The average company loses half their customers in 5 years and half their employees in 4 years This has significant impact to overall customer, employee, investor and supplier loyalty. Loyalty is the degree to which these groups are loyal to your product, service and organization.
In today’s market, being customer focused is a key to survival and longevity. High levels of loyalty have positive impact on customer satisfaction, profitability, and reputation. Happy employees work harder, produce more and stay with an employer longer. Investors and suppliers feel increased confidence in the organization and their actions reflect that.
So how do you know if your organization is lacking in loyalty or strong in it? Here are just a few key steps in gauging and improving loyalty:
1. Evaluate current levels of loyalty. Information can be gathered from customers, employees, suppliers, partners and investors. Ask questions such as: How satisfied are you with our product and service? How well are problems handled? How can we better serve you? Ask your employees how satisfied they are in their jobs and how well are they communicated with. These all affect...
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