Customer Loyalty

customer-loyalty

 

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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