Easy To Make, an Edublog.org weblog, has posted another great list of ten tips to help you develop customer loyalty. It’s no surprise to me that the number one tip on the list is to conduct surveys.
Studies have shown that loyal customers:
Purchase your products and services again and again over time
Increase the volume of their purchases
Buy beyond traditional purchases, across product lines
Refer your company’s products and services to others
Become immune to the pull of the competition
Give your company the benefit of the doubt when something goes wrong
Keep in mind:
It costs 7-10 times more to recruit a new customer than to keep an existing one
A gain in customer loyalty of only 5% can lift lifetime profits per customer by as much as 95%
An increase in loyalty of just 2% is, in some sectors, equivalent to a 10% cost reduction
Conducting online surveys with your customers is the easiest and best way to hear directly from them what is needed by you to keep them coming back again and again. Their responses are what you need to hear!
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