What is customer loyalty? I asked a number of business people the simple question, “What is customer loyalty?” The answers were mostly similar. Most agree that customer loyalty means the customer will come back, again and again.
However, what customer loyalty doesn’t always mean is that the customer is loyal to you, and only you. In other words, they may do business with you, but are also still doing business with your competitors.
The concept of “wallet share” came to mind. I’ve been talking....