Loyalty Programs
Because of having access to so much choice, customer satisfaction is more integral than ever before. Customer retention is significant for online business. Customers become loyal to your brand because of them loving your product. According to Invesp Consulting, existing customers are 50% more likely to try new products. In addition, existing customers spend 31 percent more compared to new customers.
Loyalty program is integral for repeat business. Make your loyal customers feel appreciated with a loyalty program. It encourages them to buy from your business and become a repeat buyers. A Wunderman study reported that 56% of respondents said they feel more loyal to brands who get me and show a deep understanding of their priorities and preferences. Also, 89% are loyal to brands that share their values. Customers remember their experience with a brand.
Companies develop customer loyalty by making customers’ lives easier by solving customers’ problems and soothing the pain. In addition, make sure the experience is valuable. In developing a loyalty program, make sure that the website or mobile app has a consistent experience for the customer. Furthermore, implement technology to customize and enhance the loyalty experience. Moreover, continue to provide the specific products and services that you know your customers love.
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