Customer loyalty is a set of factors such as customer satisfaction, positive customer experiences and the overall value of the products and/or services the customer receives from the company/brand.
When a customer is loyal to a particular brand/company, he is not easily influenced by categories such as price or availability of products and/or services. They are willing to pay more if they get the same quality product or service that they know and love. Research shows that as many as 39.4% of customers will spend more money on a product from a brand they are loyal to, even though they know there are better value products/services elsewhere.*
Loyal customer:
- in as many as 60% of cases will recommend the brand they like to family and friends*;
- will access the loyalty program of the brand they like (52.3%)*;
- is also interested in other products of the brand he likes;
- they are more understanding when problems arise and trust the brand to fix them quickly;
- happy to share feedback with the brand so that the brand can improve its products and/or services…
Regardless of the size of the company, customer loyalty is of key importance and that segment should be actively worked on because it affects the strength of the brand and helps in many ways in making strategic decisions related to growth and development.
———–
* source: yotpo.com