customer loyalty
Lifespan Extension Equals Loyalty Escape Velocity
Adam and Larry Mogelonsky | November 16, 2022
By Larry and Adam Mogelonsky If you’ve spoken to either of us in the past couple years, you know that we’re very bullish on the growth of wellness for hotels. Still in its nascent years is a growing body of scientific research to support the notion of uber-wellness in the form of lifespan extension. And this can have profound implications for hotels in terms of ‘customer lifetime value’ (CLV). First, how we derived the term in the title: Escape velocity is used to describe the speed at which a rocket ship must attain in order to break through the pull of the Earth’s gravity to achieve orbit Renowned futurist Ray Kurzwe...
Money or Miles for Frequent Flyers?
PolyU’s School of Hotel and Tourism Management | February 25, 2022
“CANCELLED”: The word no passenger wants to see on an airport display board. Failing to appease disgruntled clientele can seriously damage customer relationships. Dodging the kickback of service failures is therefore supremely important, especially when customers have already pledged their allegiance to a company – as have frequent flyers. But how should loyal customers be compensated? In an important recent study, Dr YooHee Hwang and Dr Lisa Gao of the School of Hotel and Tourism Management (SHTM) at The Hong Kong Polytechnic University and their co-author explored the best ways to regain customer loyalty after a service failure. The u...
The Secret To Customer Loyalty
Shep Hyken | October 13, 2021
Shep Hyken Okay, maybe it’s not the secret, but what I’m about to share with you is one of the secrets. Actually, three secrets. In the real estate world, the three keys to success are location, location, location. In this article, we can say that three secrets to creating and sustaining customer loyalty are communication, communication, communication. The way you communicate, what you communicate, and how often you communicate can create the experience that gives a customer the confidence to continue doing business with you. So, with that in mind, here are three communication tips that will help drive custo...
The Difference Between Repeat Customers and Loyal Customers
Shep Hyken | August 13, 2021
By Shep Hyken “We love our customers, and they obviously love us. They keep coming back, again and again!” Who doesn’t want to be able to say that? And, if that is the case with your organization, let me ask you this question: Do you know why they are coming back? Not to be a “downer,” but we shouldn’t confuse a repeat customer with a loyal customer. They are not the same. Don’t get me wrong, I love repeat customers, and we absolutely want them. Repeat customers are very desirable. I write about this topic in my latest book, I’ll Be Back: How to Get Customers to Come Back Again and Again. As a business, yo...
The Loyalty Question 2.0
Shep Hyken | November 19, 2020
By Shep Hyken If you have been following my work, you may remember something I refer to as The Loyalty Question. It goes like this: What am I doing right now to make sure the customer comes back the next time they need whatever it is we sell? Most people think customer loyalty is about a lifetime. That’s a pretty big goal—making a customer stay for a lifetime. But if you break it down into smaller parts—as in the next time—it becomes much easier. As you ask yourself the loyalty question, think about the next time every time. Eventually, it can become a lifetime. That question is still relevant, now more than ever, but le...
How to Measure Customer Retention
Shep Hyken | June 24, 2020
By Shep Hyken Get ready to do a little math. While not my typical lesson, this is very important. It’s about customer retention—which can lead to customer loyalty. Loyal customers are important to all businesses regardless of industry or size—large, small, B2B or B2C. Most businesses know their numbers, but do they know the right numbers? It’s easy to measure customer satisfaction at different levels. We find out how they liked our experience. We know that if they liked the experience, that is the first step in getting them to come back. The “getting them to come back” number is different than the “were you happy with us?...
COVID-19 Presents Travel and Tourism Industry With a Unique Opportunity to Evolve
Zongqing Zhou | April 28, 2020
By Zongqing Zhou As the tourism sector has been hobbled by the pandemic, the industry has also been presented with an opportunity to reevaluate and improve its practices, a necessity if businesses are to attract and gain the trust of both existing and prospective customers. The impacts of COVID-19 have posed significant challenges to the travel and tourism industry. Airline sales are expected to drop by $314 billion and hotel room vacancies have eclipsed 50%. For these industries to survive, they must rapidly invest in new initiatives to keep their current customer base engaged while improving conditions for their employee...
Global Hotel Alliance Partners With Shiji Group to Bring Advanced Technology to Independent Hotel Brands Worldwide
Shiji Group | February 25, 2020
Global Hotel Alliance (“GHA”), a network of independent hotel brands worldwide, has entered into a partnership with Shiji Group, a leading global hospitality technology solutions provider, to provide their member brands with a suite of advanced hospitality technology products and services. GHA serves as the world’s largest alliance of independent hotel brands with over 35 brands across 78 countries and offers its members DISCOVERY, a hotel loyalty program with participation from its entire portfolio of hotels. The global service agreement between Shiji and GHA will allow both companies to build on its existing relationships and ex...
