Preparing for loyalty’s next frontier: Ecosystems
As James L. Heskett likes to say, there is a relationship between profitability, productivity and customer loyalty. To capture relevant value, satisfied and loyal customers must be the first asset, but above all: dynamic companies. Thus, quality improvement being the main factor impacting consumer satisfaction, brands must acquire a broader vision of their loyalty programs.
Ecosystems programs strategically provide additional experiences and services to customers that enhance engagement. With this ecosystem-driven loyalty, brands benefit a higher profit margin, as customers perceive they have received more attention.
