Customer loyalty concepts and best practices – SearchCRM.com

Customer loyalty and retention

  • coalition loyalty program

    A coalition loyalty program is a loyalty card system that offers incentives to customers of two or more businesses in return for allowing those businesses to collect user data. Such a program packages customer benefits into a single customer loyalty ... 

  • customer experience management (CEM)

    Customer experience management is made up of the processes a company uses to track, oversee and organize every interaction between a customer and the organization throughout the customer lifecycle. 

  • silent attrition

    Silent attrition is a situation in which customers stop patronizing a business without any communication. 

  • chief customer officer (CCO)

    A chief customer officer, or customer experience officer, is generally responsible for customer research, communicating with company employees and taking charge of customer experience metrics. The position typically reports one level below the chief ... 

  • loyalty punch card

    A loyalty punch card is a token that lets a customer earn free merchandise or discounts after a certain number of purchases. 

  • loyalty card program

    A loyalty card program is an incentive plan that allows a retail business to gather data about its customers. The goal of a loyalty card program is to build repeat business by offering participating customers something that isn't available to non-par... 

  • transactional marketing

    Transactional marketing is a business strategy that focuses on single, "point of sale" transactions. The emphasis is on maximizing the efficiency and volume of individual sales rather than developing a relationship with the buyer. (Continued) 

  • CRM (customer relationship management)

    CRM (customer relationship management) is an information industry term for methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships in an organized way. 

  • Direct marketing

     

  • sales cycle

    The sales cycle is the sequence of phases that a typical customer goes through when deciding to buy something. 

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About Customer loyalty and retention

Measuring customer loyalty and developing a retention strategy are critical to an organization's success. The organization that understands and manages customer loyalty has a leg up on its competition. This section includes a variety of resources, news, guides and tips to building strong customer loyalty in your organization. Get up to speed on customer loyalty-related definitions and terms. Read expert advice on how to create a sound strategy and build customer loyalty using new technology. Find out how marketers are using the Web to better connect with their customers. Learn about utilizing CRM software to build a loyalty program and identifying high-value customers in the call center. Read a chapter download on creating a customer-focused CRM strategy that can help build customer loyalty. Learn about B2B and B2C loyalty programs, and how customer experience management relates to customer loyalty.