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Customer loyalty driven by trust, communications and experiences - study

10th Jun 2011
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Trust drives up to 44% of customer loyalty in a brand, with communications, management policies and practices as well as consumers’ previous experience all playing their part.

According to a survey undertaken among 2,000 UK and US consumers and 20 senior marketers by the ESCP Europe Business School on behalf of customer analytics software and services provider Pitney Bowes Business Insight, the two most important factors in building up consumer trust is effective communications (15-20%) and satisfaction with self-service channels (10-20%).

David Newberry, the firm’s chief marketing officer, said: "Trusted brands build upon each interaction to enable lifetime customer relationships. Every customer interaction – in person, on a website, with direct mail or with a call centre – is an opportunity to build or break trust."

As a result, customer communications management programmes were important to deal with interactions in a positive manner in order to improve the value and profitability of each relationship, he added.

The study entitled ‘The Role of Trust in Consumer Relationships’ also indicated that the older the consumer, the more trusting they tended to be, particularly if they were over 65 years old. Higher income customers earning more than £70,000 were the most trusting group in salary terms, meanwhile, while the least trusting in occupational terms were either self-employed or employed part-time.

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