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Customer Loyalty/Satisfaction
The level of contentment customers have with a company's products or services, often leading to repeat business.
Implications
The combination of customer loyalty and satisfaction metrics used to gauge the overall health of customer relationships, often linked to retention, advocacy, and long-term profitability.
Example
Example: A hotel chain tracks customer loyalty/satisfaction by combining survey results on guest experiences with data on repeat bookings and referrals, helping to refine its service offerings.
Related Terms
Different from customer satisfaction alone, which measures immediate happiness, the combination with loyalty looks at both satisfaction and long-term commitment.
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