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Top 10 Industries with most Loyal Customers
By siliconindia
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Wednesday, 07 September 2011, 01:13 IST
Loyal customers can be an important driver of sustainable business growth. Loyal customers exhibit those types of behaviors that keep a business growing, especially in less stable economic times. Therefore, they are worth getting to know. They are very helpful in enhancing company's Marketing with Loyalty solutions.
They are usually much less price-sensitive , can be nearly immune to competitive entreaties, and can become a powerful marketing arm, going out of their way to promote and defend your company online and off for free.Loyalty driver analysis enables companies to identify the business attributes that are important to ensuring customer loyalty.
Companies can allocate resources to important business areas that have the greatest impact on increasing customer loyalty. While each response from a survey can be examined to deal with specific causes of customer loyalty/disloyalty at an individual, customer level, driver analysis can be thought of as a macro look at the customer base (or customer segment).
By analyzing data from a large segment of customers, driver analysis helps companies to identify the common causes of customer loyalty across the customers. Consequently, based on the results of the driver analysis, companies can make organization-wide improvements to their business processes that will have an impact on the customer segment of interest.
Researchers at Bain & Company studied the loyalty levels of 18 industries, ranging from cell phone service and cable TV to various types of insurance.
The percentage scores are based on their NetPromoter system, which tracks the "loyalty, engagement and enthusiasm" of customers. Net Promoter score is based on the 'likelihood to recommend question'. The full study will be published in the upcoming book The Ultimate Question 2.0 by Fred Reichheld and Rob Markey.
According to Rob Markey and Fred Reichheld examination,
#1 Grocery and supermarkets got the highest Loyalty index score, about 49%.
