The foundation of a loyalty strategy is that customer satisfaction pays, in the long term, but can we prove it? It can be difficult to come up with an overall number (like “5% more satisfaction equates to £1,000,000 more profit”), but what’s often easier is to isolate specific mechanisms by which satisfaction contributes to increased revenue (e.g. through higher retention and recommendation) or decreased costs (e.g. by reducing avoidable contact).
https://tlf-public-assets.s3.eu-west-2.amazonaws.com/podcasts/Ep47+-+HowSatisfactionPays.mp3