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What loyalty?
Loyalty! Everyone wants it!
From your customers, your employees and your business partners. From your friends and relations. From your sports team. And absolutely from your dog!
Loyalty; also called reciprocity by psychologists. ‘You scratch my back, I’ll scratch yours’. Loyalty is a feeling. The genuine feeling of faithfulness to a person, a brand, a supplier, an organization, an agreement or an obligation. Loyal customers are faithful customers. And this fidelity will manifest itself in repeat purchases and the continuation of the relationship.
The bond that is created between the customer and the supplier must be such that the customer remains faithful to his/her supplier despite marketing efforts from others or influences from without. In other words, this relationship is quite strong. Such a faithful relationship or bond exists, in large part, because of emotions. These emotions are created by all kinds of factors. Thanks to our many years of experience, we know how to incite and maintain the right emotional reactions.
Man is increasingly driven by emotions
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Marketers as well as economists are in agreement that customer loyalty is a crucial factor in successful entrepreneurship and for business continuity. Loyalty measures the present as well as the future. On the one hand, loyalty is an indicator for the added value that the customer attributes to the product or service. On the other hand, the profit potential and the long-term prospects of the business are reflected by the amount of customer loyalty.
It is, therefore, remarkable that only a small number of managers pay serious attention to loyalty. Most managers do not even know how long a customer belongs to the customer group on average, or when a customer is profitable. Instead of that, many businesses choose aggressive marketing methods to increase their market-share on the short-term. Without asking themselves if they will ever get a return of their investment in that new customer. Apparently the daily hectic pace swallows up so much time, that they do not get to structurally increasing loyalty.
More than enough reason to work with an external loyalty specialist!
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Loyalty-Plan / Flevolaan 38 / 1382 JZ Weesp-NL / +31 (0)294 - 492 482 / info@loyalty-plan.nl
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