Small business marketing consultant in Sydney - basics of customer loyalty
Customers are one of the most important assets for every business out there. It is so crucial that since humankind started trading, we kind of started rewarding our customers with little perks. Before we talk about ways to retain customers, let’s understand the basics of customer loyalty.
What exactly is ‘customer loyalty’? It is both an attitudinal and behavioural tendency to favor one brand over all others, whether due to satisfaction with the product or service, its convenience or performance, or simply familiarity with the brand. To put it in a simple English, it means the frequency of your customers visiting your store and/or website, the frequency of them buying from you and the tendency of them steering away from your competitors. To summarise this paragraph in two words, it will be “repeat customers”.
What so good about repeat customers? You save cost to acquire new ones and they are steady revenue for your business.
Being the cheapest does not guarantee you customer loyalty even if people repeat buying. Because one day when you decide to increase your price or another competitor lowers theirs, your so-called “repeat customers” will say goodbye to you.
Customer loyalty definitely comes from the satisfaction customers get from using your product or service. Of course, quality customer service will certainly be a plus point.
So how do we retain customers? Stay tuned on Little Marketing’s blog for useful small business marketing tips.
Don’t hesitate to contact Little Marketing, your small business marketing consultant based in Sydney and Melbourne, soon!