Customer Loyalty: The Power of Three
Just like a three-legged stool, some things work better with a balance of three. The three wise men, those famous little pigs, the beloved Stooges – a tri-pronged approach is a tried and true way to ensure success.
While some organizations view customer loyalty as a single item of measure, this may paint too broad a stroke. In his recent book, Total Customer Experience, customer experience and big data expert Bob Hayes of TCELab outlines why three types of loyalty, not one, are needed to understand a customer’s loyalty propensity.
• Retention loyalty measures a customer’s likeliness to stay with the same supplier.
• Advocacy loyalty measures a customer’s willingness to recommend to others.
• Purchase loyalty measures a customer’s willingness to buy more.
This multifaceted method, coined by Hayes as the RAPID loyalty approach, provides a much richer picture of loyalty, which is further enhanced when the feedback data are integrated with other customer information. Integration brings depth, colour, and greater insight when customer feedback is viewed alongside purchase history, campaign responses, and employee/partner feedback.
Adopting the RAPID Loyalty Approach
Clicktools is working with TCELab to make it easy for Salesforce customers to implement the RAPID Loyalty approach. The partnership brings together Clicktools powerful feedback software and its world-leading Salesforce™ integration with TCELab’s expert survey knowledge and advisory services. Clicktools will include RAPID surveys in its survey library, available in all Clicktools editions, and integration with a RAPID Salesforce custom object. Salesforce reports and dashboards, including linkage analysis will follow. Customers will be able to call on the expertise of TCELab for advice on tailoring the surveys for their organisation and support in analysis and reporting.
Valuable information in a joint whitepaper from Clicktools & TCELab
Bob Hayes and I have co-created this free whitepaper, “RAPID Loyalty: A Comprehensive Approach to Customer Loyalty,” to present the basic structure and benefits of the RAPID approach and to offer you access to a special program for getting started.