3 Things That Will Make Your Customers More Loyal

 What’s something JetBlue, Nike, Chase, Red Bull and Ben & Jerry’s all have in common? They were all category winners in Brand Keys’ 2019 Customer Loyalty Engagement Index, which celebrates brands that have demonstrated the best customer loyalty and engagement over the past 12 months.

That such successful companies have achieved brand loyalty is not surprising—it’s a critical component for business success. Although growing your customer base is important, customer retention is a key metric of a company’s health because attracting new customers is much more expensive than retaining existing ones. Brand Keys found that customer attraction costs 11 times more than retention. In fact, increasing loyalty by just 3 percent could shave 10 percent off marketing costs. And increased retention has been shown to massively improve profits as well.

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How to Improve Customer Retention

Customer retention is something that you’ll want to aim a lot of attention towards, if you want your business to succeed in the long term. Once you get customer lifetime loyalty – you have hit the jackpot. 

Failure to work on your customer loyalty and improve customer retention plans will mean that your business is on a treadmill, trying to constantly win new customers, just because you’re losing so many existing ones – something that can become quite expensive.

After all, it costs 5 times more to acquire a new customer – than it does to keep your existing customer base.

In this post, we’re going to take a look at what you can do to improve brand loyalty and customer retention within your business.

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