Customer LoyaltyThere are five questions associated with this passageSuccessful companies try to increase revenue and reduce costs by building strong customer loyalty. They do this by providing value in their products and services.Companies that are successful know that customers build relationships with their employees. The quality of these relationships affects how customers view the company. If employees offer higher levels of service, then customers feel better about the company.Employees can give better service to customers if they know more about their company’s products and services. The longer that employees stay with a company, the more they know about what it has to offer customers.Having more knowledgeable employees often means that a company can offer better service to its customers. As the quality of service goes up, customer loyalty also goes up.Companies benefit in the following ways by building customer loyalty:Sales increase as repeat business and referrals increase.The cost of finding new customers is reduced.Employees become happier because they are valued by loyal customers.Most importantly, as revenue goes up and costs go down, profits increase.It is almost impossible to build strong customer loyalty without knowledgeable, committed employees. It appears that customer loyalty and employee loyalty go hand in hand. Therefore, both customer loyalty and employee loyalty are essential to a company’s success.What happens when loyal customers value the services provided by a company?Employees become more satisfied with their jobEmployees become more knowledgeableEmployees become more concerned about customersEmployees improve their job performanceEmployees share in the company’s profits