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10 benefits of Customer Loyalty

1. Acquiring a new customer costs a lot more than retaining an existing one
2. Loyal customers tend to be less prone to making deals and negotiating on price
3. Loyal customers are likely to provide free word-of-mouth advertising and referrals
4. Loyal customers are likely to purchase additional products with less marketing effort
(and expense)
5. Loyal customers tend to place frequent similar orders, and therefore usually cost less to serve
6. Loyal customers are easier to serve because they understand your company’s operation and use up less employee time asking questions and seeking reassurances
7. Loyal customers can be used to improve the effectiveness of marketing activities through feedback, market research and customer surveys
8. Long-term customers supply ideas for new product designs
9. Loyal customers are more tolerant and forgiving when things go wrong
10. When things go wrong, loyal customers give the organisation time to make amends, rather than just asking for a refund and finding a different supplier

*What can YOU do to encourage even greater customer loyalty for your goods and services? Would you like to take advantage of a free sales & marketing audit – and take away a superior marketing plan for future growth and prosperity? Please contact me for a mutually convenient appointment on 07549 153391 Or follow the link to contact me http://www.philipgwynne.co.uk/contact/

Next time: Just how dissatisfied are YOUR customers?

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