About This Chapter
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.
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
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.
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.
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.
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.
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.
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.
Earning College Credit
Did you know… We have over 95 college courses that prepare you to earn credit by exam that is accepted by over 2,000 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.