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The Importance Of Customer Loyalty And How It Can Help Your Business

Published on March 18, 2013
Tags: Web Design London

The focus of many businesses always seems to be on getting new customers: how can we attract new clients? What will make them want to use our services or buy our products? What incentives can we give them to come to us instead of our competitors? While getting new business is obviously extremely important – and always will be – the amount of resources spent on this area of marketing can be out of proportion with the returns. What will really help your business is identifying your most loyal customers and keeping them happy, instead of spending all your time on tracking down new clients.

What can you do to focus on your current customers? And what are the benefits of this?
1. Reward Their Loyalty
Your current clients already know your company and have proven their loyalty by sticking with you when there’s so much competition in your market space, so why not reward them for standing by you? You could offer them early access to your new product or give them a discount on one of your services. It shouldn’t just be new customers who get all the incentives to sign up with you. Pay attention to your existing client base first and ensure that your loyal customers will be there for your company’s future; businesses often make more profits from current customers than they do by going after new ones, and the cost of marketing for this is a lot lower too.
2. Building Your Brand
Word of mouth has always been important, and in today’s digital age, it’s more important than ever before. Not only can customers tell their friends about their experience with a certain brand, but they can also like your Facebook page, follow you on Twitter, and share any of your blog posts they like with the click of a button. Thousands can be spent on social media marketing to boost your brand to new customers, but encouraging existing clients to effectively be free sales people for your company will cost very little and can see a huge ROI.
3. Getting Reliable Feedback
Getting feedback from your existing customers will not only help you with improving your products and services, but it will also let your clients know that you haven’t forgotten about them and that you care about what they have to say. Quick surveys and emails asking questions are all very well, but if you have a chance to personally talk to even just a few, you’re likely to get a lot more out of it. Loyal customers are more likely to tell you what they actually think, as they already like your brand and probably want to help out as much as they can. Utilise their answers and improve your business where needed.
There are so many more advantages to focusing on customer loyalty, but in today’s fast-paced world of business, existing clients can all too often be forgotten. Do them and your business a favour by rewarding them for their long-term support.

By Chelsey Evans

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