Customer loyalty should be the goal of any company that wants to increase sales and brand awareness at the lowest cost, but what makes someone repeat a purchase in a store or use the same service for a second time?
According to OpenText research , 71% of Phone Number List consumers** surveyed would give up buying again because of a bad experience and 73% say they are more likely to buy again from brands that treat them in a personalized way.
Therefore, to make customers return and want to continue purchasing, it is necessary to invest in the consumer's purchasing journey , offering benefits that optimize the relationship with the brand and facilitate the process of customer loyalty .
Building customer loyalty should be the goal of any manager who wants to increase sales and expand brand awareness at the lowest cost, but it is necessary to know how to consistently encourage this return.
According to Bain & Company, a global consultancy by North American Fred Reichheld, companies usually see an increase in revenue each year that loyal customers continue to purchase their products or services.
Research carried out by the agency argues that return customers (or “returning customers”, in Portuguese) tend to buy more and more from the same company over time, while operational expenses with these customers tend to decrease .
But where to start? Continue reading and understand how to retain customers with 7 incredible tips!
What does customer loyalty mean?
Drawing of a man using his cell phone and holding a shopping card.
Customer loyalty means gaining the loyalty and trust of the public, establishing repeat consumers in your portfolio.
Customer loyalty is the increase in consumers who return to buy or use a business's solutions and become fans of the brand , recommending it to other people, for example. Therefore, strategies to retain customers are considered essential for any company.
The main objective of customer loyalty is to prolong the relationship between brand and consumer , ensuring full satisfaction with the products and services offered by the brand.
This strategy is directly related to the experience your customers had during the purchasing journey, as it indicates their desire to purchase your products again.
Customer loyalty encompasses both new customers acquired by the company, who started to buy on a recurring basis, and old customers who continue to buy from the brand considered to be their favorite.
In an interview given for an academic article, specialist Fred Reichheld argues that the objective of a business is to serve the interests of the end consumer by building a network of relationships that brings benefits to all sides. This would be the basis of what loyalty means.
In other words, to gain a loyal customer , you need to add value to the shopping experience , whether through practical aspects — such as price, payment and delivery conditions — or through human aspects — such as service and support.