In these days of online reviews, customer purchase decisions are increasingly influenced by referrals. Word of mouth counts for a lot, even if it comes from total strangers. However, when referrals come from family members and friends where there is a high level of trust, they are that much more powerful in influencing a customer’s
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“Keeping one more loyal customer is the equivalent of gaining 95 new customers!” – Bain & Co The quest for the Holy Grail of customer loyalty has led to a proliferation of loyalty programs and wallets bulging with loyalty cards. The loyalty boom has been around long enough now to be measured against ROI. In
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In his book, Customers are People: The Human Touch, John McKean asserts that our decision to buy is based on the degree to which we are treated as people. Specifically, he says that ”70% of a customer’s decision to buy is based on human interactions and only 30% is based on product attributes.” The human
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Sales expert Gerry Layo says, your customers don’t stop buying. They just stop buying from you. They go somewhere else. But why? The Rockefeller Corporation study found that there are a number of reasons, but one surpasses them all. Image source Indifference! Customers leave because of a “perceived indifference.” They aren’t feeling the love, shall
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Brand loyalty has been a focus for many companies recently. In an effort to distinguish their companies from the pack, they have tried to create new buzz and recognition around their brand identity to increase brand loyalty. But that may be putting the cart before the horse. If we say that brand loyalty is the
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One of our clients recently said: “What I value the most about working with Client Insight is the ongoing comfort of knowing that we are doing what we should be doing with our customers. It provides us the validation that what we are doing is correct. It is in effect, an Early Warning System when
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Did you know your company might be sending its customer loyalty over a cliff? You are Not Rewarding Loyal Customers Are you taking your customers for granted by assuming that customers who repurchase are loyal? But do you know why they repurchase? Customer loyalty cannot be assumed, or taken for granted. You need direct customer
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Customer loyalty is not the Holy Grail of marketing. It’s not rocket science either. It turns out there are three very simple keys to capturing customers loyalty…and keeping it. 1. Reliability Reliability forms the basis for customer loyalty, and it is developed over time. Your customers need to see that your company doesn’t just make
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http://www.swissteach.ch Some marketers make the mistake of thinking that customer retention is the same thing as customer loyalty. Not so. Just because you have repeat customers does not mean those customers are loyal. Customers might continue to buy from you for a variety of reasons that don’t include loyalty. These could include: Convenience. They have
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Does your company focus its marketing budgets and efforts on attracting new customers? Do you recognize the value of including customer retention and loyalty in your marketing spend? A common marketing mantra is that it costs five times as much to gain a new customer than to retain an existing one. In some industries, it
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