Adding some credence to the conclusion of Bank of America analyst Jessica Reif Ehrlich’s assertion that Netflix has won the streaming wars, a new survey from brand research consultant Brand Keys has concluded the streamer was among its “Loyalty Juggernauts.”
Those are brands the company says are “of such overwhelming economic force that their ability to meet expectations makes them far more powerful than universal awareness alone.”
That is according to the company's 27th annual Customer Loyalty Engagement Index (CLEI), which was based on surveys of almost 100,000 consumers ages 16 to 65.
Other category leaders were Fox News and MSNBC (cable evening news), NBC (network evening news), Fox & Friends (cable morning news) and Good Morning America (network morning news).
Brand Keys says the ranking is more than a feel-good stat.
“It costs 16 times more to recruit a new customer than keep an existing one,” the consultancy pointed out, arguing that a 5% increase in brand loyalty can translate to a big boost in profit per customer.
