Customer Loyalty

"Should I stay or should I go now?
If I go there will be trouble
- and if I stay it will be double!"

extract from the song lyrics of “Should I stay or should I go“ | The Clash

Change and Turn – convincing, rather than persuading

Convinced customers are the key to success. Mere customer retention can be bought or contractually brought about. But what happens if the contract expires or if your competitor decides to invest the same amount of money in order to buy your customers? Then the loyalty of your customers is decisive.

This is why it is crucial to know one´s customers, and in particular to assess their loyalty correctly. Which customers are how loyal? Which groups are particularly prone to being carried off by the next wave of churn? Which factors make my customers immune to new offerings on the market?

If you want to answer all these questions, you are faced with the central challenge of measuring your customers´ loyalty. But loyalty results from diverse elements, therefore it cannot be assessed by means of one simple question. Rather, it is necessary to specify the indicators of customer loyalty relevant to a particular industry and to condense them into a ratio.

A number of instruments and methods draw on the customer loyalty identified and can be employed to answer additional questions...

For instance, you can use analysis of causality in order to quantify the loyalty drivers and to take measures appropriate for the future
We employ quantitative procedures of segmentation to show you which customer groups think most intensively about changing and how you can best convince them
Conjoint-based market simulations permit you to anticipate the future – more specifically, to foresee how changed market conditions influence the development of market share and churn rates.

This is but a small selection from the marketmind set of methods surrounding the issues of churn & loyalty. Talk to us personally and convince yourself of marketmind.