How Much Does Loyalty Cost?

Posted by on May 17, 2012 in Blog

Regardless of how businesses change and marketing moves forward, customer loyalty remains an important focus for all business owners. So what does loyalty mean to your business?

Are you selling a product or service that you can expect loyal customers to come back and purchase on a regular basis? Or do you deliver a high quality one-off service or product that loyal customers will recommend to their friends and family?

Loyalty programs certainly have their place. There are enough bargain hunters in the marketplace to make it worth your while to offer a rewards system, but true loyalty is born from a genuine feeling of customer satisfaction.

Whether that satisfaction comes from simply saving money on goods or from a personalised service program, happy customers are what every business owner wants. No matter what your product or service may be, if your customers are happy, they will come back themselves or send other people to you.

Consumers are often fickle and your marketing strategy needs to be kept fresh to keep their attention focussed on you. If you are going to offer a rewards system, make sure you keep changing the rewards to avoid customers getting a “been there, done that” feeling when the novelty wears off.

Listen to your customers and find out what they like, what they want and what they will buy. Often it is so much more than simply the product that they are buying from you, it is the whole shopping experience.

If you were buying your product or receiving your service, what would make you feel like it was a particularly good experience? What would make you go back or recommend that business to everyone you know?

Loyalty comes from a certain level of trust, so being friendly and respectful and offering a very humanised and personal service is often worth more than saving a few dollars to most people.

TAGS: loyalty, customer loyalty, customer appreciation