It sounds like a no-brainer, customers become more profitable when they consistently continue to do business with your company. Easy to say, but getting harder to achieve in today's increasingly competitive markets. Research shows that repeat business isn't tied to customer satisfaction as much as it is to perceived value.
Customers respond quickly to the most attentive seller.
You are likely to have greater customer retention if your identity equates to compelling value. For one purchase, a buyer may look at your Web site, read your literature, visit your place of business, talk to friends, look at your packaging, basically performing their own market research in order to determine the best perceived value. If your value message doesn't hang together across the buyer's examination, they will probably continue searching. Successful, profitable companies have shifted from a satisfaction based or quality based relationship with their customers to a commitment based relationship. Research from the Harvard Business Review illustrates that customer loyalty, not customer satisfaction, should be the true objective of any company desiring to thrive in today's hyper competitive markets.