The basis for strong customer loyalty is customer satisfaction. It expresses how satisfied the customer is with the requested product or service. The higher the satisfaction of the customer is, the higher his loyalty to the company. Customer retention refers to a customer’s inner attachment to a product or a company, expressed to trust in the partner and the desire for a stable business relationships.
Long-term customer loyalty is sought in Customer Relationship Management through individual approach and competent support of the customer. The so-called relationship marketing goes beyond the pure short-term sales success. Moreover, the handling of complaints plays an important role in term of customer retention. The negative effects of customer dissatisfaction should be minimized and be used as an opportunity. Given that customer satisfaction is key in the company’s success. That’s why the CRM strategy’s goal is to increase it.
