October 11, 2018
Retailers are failing to measure the correct data to understand customer loyalty, and that is putting customer relationships and profitability at risk.
In addition, two-thirds of decisions makers do not understand why customers are loyal or have a strategy to strengthen customer relationships, according to a Forrester Consulting study commissioned by Collinson.
The research reveals a disconnect between business objectives and loyalty objectives and 68 percent do not have a framework to measure loyalty in light of overall business performance, according to a press release.
"We were surprised see that so many organizations are approaching loyalty backwards," said Phil Seward, senior vice president of loyalty strategy, Americas at Collinson, in the release.
The survey focused on businesses in the financial services, retail and travel and hospitality sectors. The study was carried out in April 2018 and polled 635 decision makers and managers around the globe.
