There is no universally accepted definition of loyalty and therefore, who loyal customers are. Some claim we should measure customer loyalty by their share of wallet; others say it should be based on the customer retention rate; others push frequency as the best measure, while others claim it’s the customers’ attitude towards the company that best describes loyalty.
One of the best books I’ve read that helped me with this subject is Crucial Conversations, (Kerry Patterson and Joseph Grenny). What I learned from it helps me immensely with my work and I thought I would share a few thoughts for those difficult moments you may have.
Thank you to my colleagues in USA who provided me this week with some useful insights into your prospects mindset, when assisting client with conversion rates.