The Science of Brand Loyalty
When customers are asked to rate the service they receive (on a scale of 1 to 5), have you ever wondered what they base their decision on? You may be thinking of factors like cost, quality, variety, timeliness, or other things particular to your products or services. If you do a good job on those fronts, you’ll likely have a satisfied customer (they’ll give you a 4). But what researchers have learned is that customer satisfaction isn’t enough if you want a successful business—because a satisfied customer is not necessarily a loyal customer. Someone who gives you a 4 is six times more likely to go somewhere else, compared to someone who gives you a 5. What does it take to earn a 5?