Your Loyalty Yardstick - CRMAdvocate: 2/11/2013

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My Take: Your Loyalty Yardstick
Gary Lemke, Chief Customer Advocate (February 11, 2013)

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Do organizations place too much emphasis on loyalty? Does your organization? Lately, the question of whether or not loyalty matters encourages one to examine the role of loyalty in driving business value and growth. And what is the role of switching costs versus loyalty building (also see the customer's bully)?

Let's take the discussion of loyalty in a slightly different direction. If you are a retail organization, are you able to determine the average loyalty of the last dozen people to walk through the door? If you are a B2B sales representative, are your repeat customers more or less loyal than those of other sales reps? How has customer loyalty changed for your business in the last year?

Regardless of the business model (B2B or B2C) and the type of customer interaction (direct or indirect), what specific actions can you take right now to elevate the loyalty of the next dozen customers? Or the next million?

Here's the point. There is little argument that loyalty as exhibited by your customers is a good thing. However, the ability to quantify that in a meaningful and measurable way on a sustained and specific basis is not.

If you can't find the "loyalty yardstick" should loyalty be the measure?

What's your take?

Gary Lemke

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