Master the art of customer loyalty management
Posted: Thu Jan 23, 2025 5:20 am
How to earn customer loyalty without complications
Rather than gaining new customers, your efforts should be focused on earning the loyalty of existing customers. The latest metrics show that it is 500% more expensive to acquire repeat customers than to keep existing ones. In addition, repeat buyers spend 33% more than recent ones.
For all of the above, brands and companies around the world are seeking to channel all their marketing, promotion and operations efforts to achieve a long-term vision and thus generate an influx of income greater than the previous year, through customer loyalty management.
Right at the epicenter of this vision lies the trump card that, in most cases, helps brands to obtain the revenue they seek. They are popularly known as customers, and it is essential that they are treated well.
Now it's one thing to have customers, another thing to keep them for longer. And then there's the chief vice president marketing officer email list whole proposition of acquiring completely new buyers.
The greater the competition, the better the strategy
Today, we have a high-tech and highly competitive world, innovation is more than just a buzzword and creators abound. Needless to say, consumers have an open buffet of options (brands) to choose from, making them the proverbial boss.
No matter how attached one is to a brand, it doesn't take much to change the foundation these days. If anything, businesses need to work at full speed to ensure that their existing customers stay loyal to them for as long as possible, and that new ones become loyal in no time.
Brands need to master the art of customer loyalty management and that is why I have written this article, to guide you in achieving it in your business.
What is customer loyalty and how is it built?
“A customer can be called loyal when he or she makes a voluntary choice to purchase or associate with a particular brand over a period of time, as a result of the cohesive experience (physical and emotional) he or she has had with the brand in the past…”
It must be kept in mind that a good product alone is not enough to keep a customer loyal while the competition is high. Other integral aspects such as customer service and customer experience also play a vital role.
Establishing customer loyalty is not the easiest thing to do right now, it would be inappropriate to call a customer loyal just because of a couple of purchases. Studies show that up to 37% of people consider themselves loyal to a brand only after having purchased from it more than five times.
Now that I've shown you what it is, the question is: how do you earn customer loyalty?
Rather than gaining new customers, your efforts should be focused on earning the loyalty of existing customers. The latest metrics show that it is 500% more expensive to acquire repeat customers than to keep existing ones. In addition, repeat buyers spend 33% more than recent ones.
For all of the above, brands and companies around the world are seeking to channel all their marketing, promotion and operations efforts to achieve a long-term vision and thus generate an influx of income greater than the previous year, through customer loyalty management.
Right at the epicenter of this vision lies the trump card that, in most cases, helps brands to obtain the revenue they seek. They are popularly known as customers, and it is essential that they are treated well.
Now it's one thing to have customers, another thing to keep them for longer. And then there's the chief vice president marketing officer email list whole proposition of acquiring completely new buyers.
The greater the competition, the better the strategy
Today, we have a high-tech and highly competitive world, innovation is more than just a buzzword and creators abound. Needless to say, consumers have an open buffet of options (brands) to choose from, making them the proverbial boss.
No matter how attached one is to a brand, it doesn't take much to change the foundation these days. If anything, businesses need to work at full speed to ensure that their existing customers stay loyal to them for as long as possible, and that new ones become loyal in no time.
Brands need to master the art of customer loyalty management and that is why I have written this article, to guide you in achieving it in your business.
What is customer loyalty and how is it built?
“A customer can be called loyal when he or she makes a voluntary choice to purchase or associate with a particular brand over a period of time, as a result of the cohesive experience (physical and emotional) he or she has had with the brand in the past…”
It must be kept in mind that a good product alone is not enough to keep a customer loyal while the competition is high. Other integral aspects such as customer service and customer experience also play a vital role.
Establishing customer loyalty is not the easiest thing to do right now, it would be inappropriate to call a customer loyal just because of a couple of purchases. Studies show that up to 37% of people consider themselves loyal to a brand only after having purchased from it more than five times.
Now that I've shown you what it is, the question is: how do you earn customer loyalty?