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How Loyal Are Your Online Customers?

How Loyal Are Your Online Customers? Gone are the days, when customer loyalty was related to financial terms. Now according to the new definition, most loyal customers are the ones who keep returning to have business with you. Customers are the most important business asset as without them, the business would not exist. However 12% of customers are loyal to single brand and they represent to 15% from 55% to of sales of that brand. 70% Here, a question arises that how do these loyal customers show love for their favorite brands? 80% spread good words of mouth about the brand 63% starts buying more from their favorite brand 44% refuse to buy other brand products As per experts, price is the biggest incentive for customers to switch brands However, 80% BRAND X BRAND Y BRAND Z of the customers state that loyalty programs impact their purchasing decisions. It shows loyalty programs do affect customers' purchasing behavior. However, it has been observed that 67% 'of the customers change brands for little or no reason. costs 8 times more to find a new customer than to retain the existing one. On the contrary, 51% of the customers buy more items just to maximize the loyalty points they receive for purchases. 51% It is essential for online entrepreneurs to hold onto the existing customers as just 5% reduction in lost customers Can increase your business profit by up to 75%. %24 When is the Most Critical Time for a Brand to gain Customers Loyalty? Alas! Hardly any business works on "Lost Customer" reactivation program. Before People Buy Before Company Render Services When Customer Faces Any Issue When Customers Start Considering To Buy From Competitors Bottom Line: After reading this all, you must evaluate your business practices against these pointers to find out whether you are developing profitable customer relationships with existing loyalty program or not? greetC? 24 web greetCÅ™ 365 A LIVE SERVICE PROVIDER www.WebGreeter.com

How Loyal Are Your Online Customers?

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Getting traffic to your e-commerce website is just the first step in setting up your online business. However, to have a successful online business venture, you need to convert those visitors into cus...

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Adam Methew

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Business
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