All this will then in turn contribute to the retention and loyalty of customers. Factors that Influence Customer Loyalty Excellent customer service and complete satisfaction with the product or service are major factors that are relied on and influence customer loyalty. (Leland & Bailey, 2006, p. 9) stated, “Customers want a competitive price, good value, convenience and customer service and they want it yesterday” This suggests that customer loyalty relies upon customer service and matching what the customer wants and what they get in terms of satisfaction. There are many factors that can influence this such as, • Handling of customer complaints and compliments • Addressing
This is the start of building a customer relationship. 4) Needs Assessment – this is where the needs of the customer is assessed to establish how a product can benefit a customer. It is important that a good relationship is built to gain confidence and trust with the customer which will help to convince them that choosing this product is to their benefit. 5) Presentation – this is a presentation of a product and all of its features. A presentation needs to be focused on how the product will benefit the customer.
It focuses on retaining and enhancing existing customers and improving relationships with them rather than on acquiring new ones (Vavra, 1995). It involves keeping easy communications with customers regarding their queries and complaints and resolving potential disputes to customers’ satisfaction (Garfield, 1990). Good customer relationship encourages customer to buy the product or service and to recommend it to others, which adds to an increase in company income, company growth or revenue and reputation. This customer recommendation by word of mouth or good and positive feedback on web 2.0 social networks is free advertisement for company. According to Gitomer (1998) companies try to get customer’s loyalty as keeping existing customers is cheaper than finding new ones, and having a base of loyal customers for one product or service improves sales for the company's other offerings.
2000: 826).The individual market segments should be targeted in terms of developing customer loyalty. Customer loyalty is one of the most important and critical factors for a company's success. Customer loyalty happens when customers have a great experience, and it leads to many benefits: loyal customers return for future business, refer friends and family to a business, and spread positive comments about a company through word-of-mouth advertising. With social media and the ease of rating companies. There are several factors that can influence customer loyalty.
A rapid increase of start-up businesses in the modern day has resulted in a rise of market competitiveness. Furthermore, because these customers determine a corporation’s success or failure, the relationship between a customer and an organisation is extremely vital. Katz’s Theory on managerial skills stresses that human skills are necessary for most leadership roles (Katz, 1974). This skill is much needed by managers in this day and age in an effort to combat the changes and challenges caused by customers. This
It is because to understanding customers’ buying behaviour is one of the elements that help to the firms or companies to be successful. In addition, if the firms or companies have problem regarding on communications the firms or companies will have difficulty to understanding the customer behaviour. So, many of firms or companies have developed and implemented the Customer Relationship Management (CRM) to learn about customers and to develop relationship with them with aim of increasing customer loyalty and satisfaction. By doing this research, it will examine about intimate communications to conduct relationship management through the Customer Relationship Management (CRM). From there the firms or companies will know the important of the Customer Relationship Management (CRM) to conduct the operations management on their organization.
Background In a service oriented industry like the telecommunication industry, loyalty is of the greatest importance. Several studies have been conducted on the correlation between increased levels of customer retention to increased revenue and profits. Various strategies and programs are implemented by service providers to ensure their customers stay loyal and to reduce the number of customers who switch their services to other service providers. One of the many strategies adopted by telecommunication service providers to improve customer loyalty is to implement Customer Loyalty Programs (CLPs). Having a customer loyalty program does not automatically guarantee customer loyalty, but it does help an organization in getting close to its
Customer’s loyalty Customer loyalty play a major role in every business’s success today. Customer loyalty is not only an attitudinal and behavioural tendency to favour one brand to all others. The situation will happened due to the development and modernization, advance technology, increasing in competitiveness, satisfaction with the product or service, convenience or performance, and simply familiarity or comfort with the brand. It can be seen as the main key element of customer relationship management and illustrates the loyalty which is built between the customer, organization, persons, products or brands. Customer loyalty will results in recommending the products and services offered by the particular organizations to associates of the
Nowadays, in order to sustain longer in the business worlds, the organization or company have to compete against their competitor through the competitive advantages. Building brand equity or strong brands can be considered one of the important elements that drivers of business success as the brand are to be said “the heart of marketing along with business strategy”. As there are many identical products or services available in the market, customer have the opportunity to chose and then select what best fits and the most beneficial to full fill customer’s interests. As the time passed by, customer’s decision processes are not only merely based on simply laying on its fulfillment of the functional needs but also influenced by the emotional benefits
The answer is simple. If an organization is able to deliver its customer a unique experience, it will ultimately result in an increase in the consumer’s spending with the particular organization, thereby enabling the organization to earn the customer’s loyalty to its product/service. Famous editor, Jessica Sebor, therefore said, “Loyalty is now driven primarily by a company's interaction with its customers and how well it delivers on their wants and needs." The Latest Trends in Customer Experience With the advancement of modern technologies, the rising popularity of social media and the growing competition for market share, most of the companies are now exploring different ways to communicate better with their customers and add more value to their relationship. Interestingly, in one of its reports, Gartner revealed that a staggering 89% of organizations participated in its survey has revealed that they would compete based on customer experience by 2016.