Increase Customer Loyalty
Today’s smart “Digital” shopper greatly impacts the buying process and creates elevated expectations. Customers are quick to leave a brand if disappointed. Companies face high costs for new customer acquisition and should focus on how to retain their current customers.
In the current landscape, customer expectations are sky high and brand loyalty is at risk from competitive and market pressures. Current customers are responsible for 68% of company revenue, and the cost of acquiring a new customer is estimated at 5 to 10 times the cost of retaining your current customer.
PPM is a proprietary tool that captures customer loyalty influences and delivers actionable insights to help keep your customers. PPM’s comprehensive analytical framework examines the motivating factors of why people are drawn to an offering, or leave, or stay for a lifetime.
Customer Loyalty PPM Overview
Establishes the strength and direction of loyalty attributes and influences that motivate customers to leave or stay
Examines factors that motive people to leave a brand: Price, Trust, Customer Satisfaction, Perceived Value – Push/p>
Examines factors that motive people to seek and select a brand: Alternatives Attractiveness – Pull
Examines factors that motive people to stay with a brand: Habits, Switching Costs, Involvement, Demographics, Social Influences – Moor
Delivers a holistic understanding of the motivating influences and attributes that drive customer loyalty, over and above customer satisfaction
Provides key insights for what attributes are your strengths, and what attributes need improving