Consumers have so many choices in the world and generally edit their possibilities and maintain their own manageable menu of brands they trust. These brands are said to be in the “inner circle”. The inner circle is like your favorites or bookmark list on your computer. In our age of information and global competition, companies are looking to loyalty programs to put themselves in the customer’s inner circle.
In the study, Carlson Relationship Builder 2007, it was noted that that customers with high levels of relationship strength aided a company’s bottom line. When relationship strength is high, the customer is 49 percent more likely to remain a customer than when it is low, and 55 percent more likely to shop within the next year. In addition, a customer in a strong relationship is 1.82 times as likely to recommend a company to friends and family.
So how can you strengthen the customer’s connection with the brand and putt you in the customers inner circle of favorite brands? Find out in this new complimentary white paper by Customer Insight Group, Inc.
Filed under: Loyalty Marketing