How do you calculate your customer retention rate?
Customer loyalty comes by respecting and continuously exceeding customer expectations. According to a study published by Rare Consulting, 83% of customers say that their loyalty to a brand is mainly down to the fact that they trust them. The same study also reveals that while price (81%), quality (80%) and convenience (55%) are the key factors in making a purchase, companies and brands that are liked (86%) and trusted (83%) benefit from more loyal customers.