Customer Loyalty and Retention

MMR Strategy has extensive experience working with clients to increase customer loyalty and retention.

Our projects allow clients to:

Identify the factors that drive customer loyalty and customer retention
Monitor changes in loyalty and retention over time
Measure the customer experience, including which elements of the customer experience most affect customer loyalty and customer retention
Analyze the relationship between customer retention and lifetime value of the customer

We use qualitative research, quantitative research, and sophisticated analytics to understand the relationship among customer loyalty, customer retention and customer experience. Our project experience includes:

Increasing loyalty and retention: MMR Strategy analyzed which elements of the customer experience have the greatest effect on customer loyalty and customer retention at a consumer services company.
Defining loyalty and retention: MMR Strategy conducted focus groups to define and examine customer loyalty and customer retention among current customers, long term customers, and lost customers of a consumer services company. For the same project, MMR Strategy conducted interviews with executives and front-line personnel to understand and evaluate their perspectives on customer loyalty and retention.
Mapping the customer experience: MMR Strategy developed Customer Journey Maps to map the customer experience at a nationwide consumer services company.
Connecting the customer experience to customer retention: MMR Strategy used workshops and interviews connect the Customer Journey Maps to internal processes and standards that guide the customer experience.
Identifying factors that lead to retention: MMR Strategy used a survey to measure and identify the factors that would lead to increased customer retention at a consumer services company.
Measuring customer lifetime value: MMR Strategy measured and identified the factors associated with high lifetime value customers at an insurance company. The information was used to train agents and other customer-facing personnel.

The MMR Approach

Loyalty and retention are related but different concepts. Loyalty is an attitudinal measure that indicates how much customers prefer to stay with a given company. Loyalty may be measured by attitudinal variables, such as likelihood to renew or likelihood to repurchase a service or product. Read more

Case Study

MMR Strategy helped a global financial services company map the customer experience.

Problem	Analysis	Results
A financial services company gradually losing customers to competition wishes to improve the customer experience.	MMR facilitated workshops with management, interviewed employees, and utilized existing research and data. We identified key customer interactions with the company and the underlying processes that support those touch points. We also developed customer-focused standards and metrics as they relate to the customer experience.	The company set out to align internal processes with customer objectives and expectations. They created offerings to address gaps between customer wants and actual experience.