Success Thanks to Returning Customers
Our digital age gives customers online access to a vast range of products and great flexibility of choice. For companies and brands, this means constant competitive pressure and uncertainty. This makes it all the more important to bind customers to your company or brand and generate customer loyalty. Customer relationships need maintenance and nurturing to build a tribe of loyal customers and ensure long-term profitability.
It is not uncommon for terms such as customer satisfaction, customer retention, and customer loyalty to be used interchangeably. There is no question that they all make a decisive contribution to a successful company—however, these terms are neither synonyms nor a marketing definition. They are different and yet still related to each other. Customer loyalty, for example, is only possible if there is a strong customer focus within the company and the customer is satisfied with the performance they receive. Only then does a customer decide to be loyal to a company. If this is the case for lots of customers, then this is reflected in the company’s success. Why is this so, and how can customer loyalty be turned into something measurable?
Table of Contents
- What is Customer Loyalty, and How Does It Differ from Customer Satisfaction?
- Trust, Image, and Connection: Generating Customer Loyalty
- Customer Loyalty’s Revenue Potential: How Loyal Customers Promote Profit
- Helpful Tips for Increasing Customer Loyalty
- Understanding, Communication & Effort: This Is How Customer Relationships Work in the 21st Century
- Maintaining Existing Customers to Develop and Strengthen Customer Relationships
- Customer Loyalty vs. New Customer Acquisition
- Measure Customer Loyalty with the Net Promoter Score®
Trust, Image, and Connection: Generating Customer Loyalty
There are three factors that profoundly influence customer loyalty. These are:
Helpful Tips for Increasing Customer Loyalty
Securing customer loyalty is not always easy. The following list gives several tips on how to increase it.