Firms don’t understand ‘loyalty’
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.
