Last time we talked about Maya, your new customer in your candle empire. She has purchased your product and was pretty happy with it.
Question. How do we know Maya will return to buy another set of candles and will not go to your competitor?
The answer is simple. You should work on increasing your customer loyalty and retention. There are lots of technologies that can help you create loyal customers who make repeat purchases and ultimately generate positive word of mouth. Here are some of the technologies we are talking about:
Research shows that consumers who participate in high-performing loyalty programs are 80% more likely to choose the brand over competitors. On of this, loyal customers are less price-sensitive.
Choose the type of reward programs that suit your company best: points-based, tiered, paid, or value-based loyalty programs. Don’t forget that these programs should mutually benefit your business and the customer.
It requires your effort and creativity to find the right loyalty program for your business. But it should not stop you when customer loyalty is on the line.
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