With an increase in the competition and the number of choices, there are so many reasons why consumer loyalty is worth a lot to your company in 2018. While acquisition is 5-7 times costlier than customer retention, consumer loyalty brings with it the chance to acquire new customers too. Not just repeat business but referral […]
When it involves running a successful business, customer acquisition is just the start of a client relationship. The winning brands are game changers that pull off a long lasting, engaged relationship with clients. In this day and age of stiff competition, and changing preferences, consumer loyalty counts for everything a successful business stands for, from […]
Most marketers admit to the challenges of ensuring customer loyalty. It is one thing to interest customers and quite another to sustain the engagement levels to initiate customer advocacy and trust. To build a strong bond with your customer, you need to have values they relate to. A Corporate Executive Board study in the US […]
A multinational company is located at various places over the globe and caters to customers hailing from diverse geographies. As such, the needs, demands and preferences of different market segments are different, and a blanket marketing strategy may not work well in the long run. Acquired customers are assets and the key to make them […]
When you are behind the wheel of a seasonal business, what poses a challenge is that though your peak turnover is achieved during the season, you still need to manage and control offseason expenses. Not all costs are variable and fixed overheads will create a dent in your cash flow, unless you keep your customer […]
The importance of retaining existing customers for growing your business cannot be stressed enough. Retail companies are now increasingly utilising loyalty programs and implementing systems directed at building customer loyalty. Consumer loyalty aims at rewarding purchasing behaviour. From store credits, to discounts, deals, coupons, prizes or other benefits, there are many ways to entice customer […]
One of the critical measures of long term success and sustainability in the US medical industry is the retention of customers. Managing customer attrition is quite challenging in the midst of rising prices of drug development, testing and distribution. Keeping customers engaged and empowered will make the brand stand out and keep customers from drifting […]
In an age where marketing efforts have witnessed a metamorphosis from product-orientation to customer orientation, catering to the needs of customers builds a very high-performing asset for each business, namely consumer loyalty. Customer loyalty is the qualitative decision of customers to keep opting for your brand, time and again even when faced with close substitutes […]
To achieve soaring bottom-lines and to keep competition at bay, businesses must learn to value the returning customer. Each business, irrespective of its size must work on maximizing customer lifetime value, which is explained hereunder in four different contexts. #1: Small Business with single entrepreneur Online soft skills development The industry is at its boom […]
Social media exerts the impact of a virtual snowball, driving more customers towards products and services. Social media platforms enable customers to act as public advocates on behalf of the brand and validate it as part of their social persona. Research shows that social media helps brands acquire customers to the tune of 45 percent […]
