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Articles
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QICID: 24125
Title: The True Test of Loyalty
Copyright: ASQ
Author: Hayes, Bob
Organization:
Subject: Customer loyalty, Customer retention, Measurement, Voice of the customer (VOC), Business plans;
Series: Quality Progress, Vol. 41, No. 6, June 2008, pp. 20-26
This ARTICLE is available FREE
to all readers.
Abstract: Although the customer loyalty field has undergone major technological innovation, the quality of measurement and understanding the concept of customer loyalty has not kept up. A multidimensional approach to visualizing customer loyalty offers new insights into expanding business through new and existing customers. Objective measures of customer loyalty include number of referrals, decision to purchase again and to purchase different products, and customer retention and defection rates. Two separate studies were undertaken to determine the measurement properties of loyalty items within two industries - wireless service providers and PC manufacturers. Advocacy loyalty, purchasing loyalty and retention loyalty each provided unique data regarding the quality of customer loyalty. Loyalty indexes predict actual future growth and help companies effectively measure and manage different types of customer loyalty.
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