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In today's market environment, simply knowing how to define the extent of your customer's loyalty and the drivers behind it is not enough. To successfully build loyalty, you need a clear roadmap of strategic actions that will drive market outcomes and ultimately impact your bottom line.
Learn how to quantify your level of customer equity through an understanding of four key factors that play a role in influencing the customer experience:
· External factors impacting buying decisions, including social media
· The degree of goodwill toward your brand
· The ability to distinguish how you deliver from what you deliver to create differentiation and memorable experiences
· The degree of loyalty to and dependencies on your brand
· A clear line of sight between strategy and desired outcomes is essential
· External Influences continue to play a more significant role in how brands are perceived and ultimately selected
· Goodwill has a substantial impact on customer loyalty and forms the basis of competitive differentiation
· Dependence must be mutually beneficial in order to positively influence customer loyalty
· Simply measuring customer experience and customer loyalty is no longer good enough – you must be able to quantify the equity you have in your customer base
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