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Industry Research Research Insight: Effectively Measuring Customer Loyalty

Customer loyalty is critical to the success and profitability of any business. But what exactly is it? Customer loyalty can be defined as the feelings or attitudes that would cause a customer to consider re-purchasing a particular product or service, continue to do business with a company or be faithful to a specific brand.

A recent survey  of senior-level service and support professionals found that while most companies recognize the importance of customer loyalty, they vary on how they actually measure it. When asked if they currently measure customer loyalty in terms of customer profitability including revenue contribution, customer references and referrals, nearly 62% of participants reported that they do not.

However, when we look at more traditional contact center metrics, the situation changes.  The Customer Satisfaction Index was the most frequently used metric, with over 87% of respondents reporting using this as a key benchmark. Response and resolution time by priority came in second, with nearly 62% of the response. Employee metrics were also popular, with employee productivity measured by 53%, employee utilization measured by 46.8% and employee satisfaction measured by 44.6% of respondents. Interestingly, a customer scorecard was only used by 24% of participants.

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