Customer Loyalty dictates your profitability & sustainability
Profitability has a huge positive correlation to loyalty and many business owners don’t fully appreciate how much the loyalty levels of their customers and employees affect their profitability and growth.
In its simplest form “Profit = revenue less expenses”. To maximise profits and growth business will traditionally focus on 2 things – maximising revenue and minimising expenses. So let’s look at how improving loyalty impacts these 2 actions.