It was just a few decades ago that customer loyalty practically felt tangible. Customers knew the names of their local business owners by name and felt an affinity for them and their goods and services. Today’s retail landscape is not quite so straightforward.
Branding, social media, online presence, a challenging economy and a competition-filled marketplace make it even more difficult for companies today to grow and keep loyal customers. So how do we define loyalty today? What affects today’s shoppers’ purchasing decisions? Customer service? Price? Discounts? You might be surprised at how loyalty today has evolved. Its likely that when you look at your own customers over the course of time how your definition of them may have changed.
Did You Know?
Less than 50% of shoppers in 2010 reported purchasing the brand they had once been loyal
70% of customers say poor service sent them elsewhere, not price
The percentage of brand loyal shoppers has steadily decreased over the last two years
So what tactics have you employed to ensure that you understand your customer better and are relevant to their needs? To help you get your arms around this idea, Customer Insight Group has developed an informative white paper titled “Does Loyalty Really Exist?” Key takeaways include:
- The core principles of loyalty
- How to best inspire true customer loyalty
- Best practice case studies of major retailers
To download this and other free white papers on how to engage, keep and grow your customer relationships, visit www.customerinsightgroup.com/white-papers.