519: Bain & Company's Partner Rob Markey on Customer Strategy, Customer Loyalty and Retention (Strategy Skills classics)
The Strategy Skills Podcast: Strategy | Leadership | Critical Thinking | Problem-Solving
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Understanding Customer Loyalty in Modern Business
This chapter explores the evolution of customer engagement and loyalty strategies since the 1990s, emphasizing the need for organizations to genuinely prioritize customer interests alongside shareholder goals. It highlights the disconnect between executive perceptions of customer service and actual customer experiences, urging companies to evolve their data analysis methods for real-time insights. Key discussions include the significance of measuring customer lifetime value and the necessity of adapting operational models to enhance retention, particularly in industries such as banking and telecommunications.
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