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Ch 5: Customer Loyalty & Retention

About This Chapter

Businesses do not have repeat customers by chance; deliberate actions lead to customer loyalty and retention. These lessons will give employees a thorough understanding of what customer retention is, procedures related to customer retention, and customer loyalty.

Customer Loyalty & Retention- Chapter Summary

This chapter contains lessons that present information related to customer retention and loyalty in a concise, but detailed manner. Employees can learn how to:

  • Determine the level of customer retention
  • Distinguish between a marketing funnel and a loyalty loop
  • Use tools to analyze and promote the loyalty loop
  • Induce customer loyalty

Instructors have created lessons that offer instruction on all of the skills necessary to achieve customer loyalty and cause the occurrence of the loyalty loop. Together, the lessons and assessments offer a complete means of educating employees on this very important concept.

How It Helps

  • Build skills: Employees learn different actions they should take to increase customer visits to a business.
  • Increases competency: By understanding how to measure customer retention, employees understand the empirical processes involved.
  • Emphasizes goals: Employees will learn about different sales models so that the optimal model can be clarified to aid in goal setting.

Skills Covered

At this chapter's completion, employees will be able to:

  • Discuss the standards for measuring customer loyalty
  • Compare the marketing funnel to the loyalty loop
  • Describe customer loyalty
  • Determine how to create customer loyalty

6 Lessons in Chapter 5: Customer Loyalty & Retention
What is Customer Loyalty? - Definition & Retention

1. What is Customer Loyalty? - Definition & Retention

Customer loyalty can help a business become extremely profitable. This lesson defines customer loyalty and discusses how a company can use various retention techniques to build and maintain loyalty.

What is Customer Loyalty? - Analytics & Solutions

2. What is Customer Loyalty? - Analytics & Solutions

What brands or products are you loyal to? How do you find out what customers are loyal to your company? This lesson will explain customer loyalty, analytics, and solutions as well.

Customer Loyalty Loop: Definition & Model

3. Customer Loyalty Loop: Definition & Model

In this lesson, we will examine the customer loyalty loop. We will explain customer purchasing behavior, in the context of brand loyalty, as we go through the steps.

Marketing Funnel vs. Loyalty Loop: Comparison & Explanation

4. Marketing Funnel vs. Loyalty Loop: Comparison & Explanation

The well-known marketing funnel is being challenged by a new way of thinking called a loyalty loop. In this lesson, you'll learn more about each method and how they compare for business and marketing practices.

Measuring Customer Retention for a Business

5. Measuring Customer Retention for a Business

How does a company find out if their customers are returning to them? This lesson will explain customer retention, the importance of customer retention and different ways to measure customer retention.

Calculating Net Promoter Score Benchmarks

6. Calculating Net Promoter Score Benchmarks

The Net Promoter Score is a good indicator of customer satisfaction and loyalty. In this lesson, you'll learn more about the Net Promoter Score and how to calculate it for your business.

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