In 2016, brands should be doing everything possible to promote customer loyalty. New sales are vital to a business and can help drive growth, but are executives forgetting the bread and butter of their income, their existing customers?
To find out what brands can do to make sure their customers stay loyal, international telecommunications provider Toll Free Forwarding surveyed a sample of US consumers. The respondents were questioned on some of their favorite brands and what strategies they have introduced to keep them on board. The survey found that 75% of Americans think brands should implement better strategies in order to encourage brand loyalty. So what is it that encourages them to stick by a product, and what lessons can we learn from them?
“My loyalty is partially based on the fact they agree with some of my personal beliefs, in addition to other pragmatic aspects. Such brands/companies are well worth my continued support.”
Consumers are now more savvy than ever, which is reflected in the multiple responses on corporate responsibility. There is now a greater desire for accountability with business practices, but also in supporting communities outside of the financial side of the business.
The example respondent above commented that they aligned themselves with a brand that had similar personal beliefs. This can be particularly effective for smaller businesses who can really tailor their marketing strategies towards a small target niche. Smaller enterprises can use the unique aspects of their business—for example, a food brand who only uses locally sourced ingredients to promote specifi…
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