Application of EPSI, NPS and CLR indicators to measure the correlation between client satisfaction and loyalty in relation to banking services
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Politechnika Świętokrzyska
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Loyal clients often make repeated purchases; they are less sensitive to the price and more willing to recommend a brand to others. Moreover, retaining loyal clients is much less expensive than acquiring new ones, which makes establishing long-term relationships with clients one of the key elements of a company’s marketing strategy. Clients’ loyalty and satisfaction are linked to a client’s positive perception of a service, i.e. their satisfaction. Satisfaction may lead to loyalty, but it does not guarantee it. Literature review shows that client loyalty, unlike satisfaction, is not only a temporary condition but also an attitude requiring additional factors: trust, relationships, brand identification and long-term benefits. The Client may be satisfied with the service, but only permanent, positive experiences build proper attachment to the brand.
The article describes the client’s satisfaction and loyalty and analyses the correlation between them.
The article aims to use the EPSI, NPS and CLI indicators to verify the strength and direction of the relationship between satisfaction and loyalty of clients of the selected service type.