Customer loyalty is a company's ability to retain satisfied customers. Maintaining customer loyalty is one of the toughest challenges for any marketing department in a business enterprise, since the wants of a customer are modified at much faster rate than their needs. It requires a business enterprise to follow a pro-active approach that includes formulating strategies for brand consolidation, researching and continuing with new product development, following TQM (Total Quality Management), implementing CRM systems, and also, working out Pipeline Management tactics.
Better customer service and faster issue resolution ensure strong loyalty. Information technology can help companies achieve customer loyalty by providing tools for analyzing customer data to assist in informed decision making, and managing customer relationships from the sales process through to fulfillment and support.
The focus and proficiency in the work done should be reflected in very strong intellectual properties that are applied to engagements.
Within this topic, there are many methodologies for calculating loyalty and satisfaction. Net Promoter Score is one method that uses willingness to recommend a good or service to a colleague or friend as a simple metric of customer satisfaction and loyalty.
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