Thursday, August 22, 2019

Firms don’t understand ‘loyalty’

Oct 23. 2018
Facebook Twitter

By The Nation

1,336 Viewed

The majority of organisations do not understand what is driving customer loyalty and are therefore putting customer relationships and profitability at risk, according to a key finding of a study conducted by Forrester Consulting on behalf of Collinson, a global leader in loyalty and benefits.

In a survey of decision-makers in organisations with revenue exceeding US$300 million (Bt9.8 billion), respondents graded their programmes based on a series of measures and also shared their key goals and challenges.

The study surveyed and compared the results for a multitude of countries and regions in Asia Pacific (APAC), including Hong Kong, mainland China, Singapore, Indonesia, Japan, Korea and Australia.The research found that two-thirds (65 per cent) of those surveyed in APAC markets do not understand why their customers are loyal to their organisations.

Almost 7 out of 10 (67 per cent) reported that they do not have a proper framework in place to measure loyalty in the context of overall business performance.

Tags:
Facebook Twitter
More in Business
Editor’s Picks
Top News