Maximizing the benefits of loyalty to create a circle of growth...
Once a brand is earning the loyalty of customers, you can strengthen that loyalty and accelerate growth by working with them to create a virtuous circle of growth.
By systematically following such an approach, loyal customers stay longer, spend more, and attract more customers. Costs are reduced and the experience improved, further strengthening loyalty and attracting yet more customers.
1. Encourage retention.
Loyal customers stay longer. Show your appreciation by rewarding them, making them feel special, and staying in touch.
2. Increase spending.
Loyal customers buy more from you. Use what you learn about them to highlight the products and services they are going to find useful.
3. Nurture advocacy.
Loyal customers attract new customers. Encourage them to share their opinions, and make it easy for them to do so.
4. Capture efficiencies.
Loyal customers are more efficient to serve. Work with them to identify opportunities for further efficiencies.
5. Improve the experience.
Use the data customers share to make their personal experience better, and work with them to improve the overall experience for everyone.
Simon can help you with this process. Learn more >