Customer loyalty is the measurement of a customer's likelihood to do repeat business with a company or brand. True loyalty goes beyond customer points programs or social media “likes” to create value for the customer and sustainable, tangible growth for the business.
So how can you harness your customer’s loyalty? This is where a well-developed loyalty strategy comes into play. The best loyalty strategies are designed to blend the science of segmented customer management with the art of marketing to optimize net revenue. This involves getting to know your customers - their behaviours, needs, wants and motivators - and identifying the make or break moments that maintain satisfaction and retain loyal customers. Companies who implement data-driven customer loyalty strategies outperform those who don’t.
So what are you waiting for? It’s time to reimagine customer loyalty for your business and seize the benefits of retention, growth, and attraction!
Check out the 3 Ways to Reboot Customer Loyalty by Differly’s Chief Strategist, Loyalty, Data and Customer Performance, Vicky Freed for Klipfolio.
Understanding how to measure customer loyalty will help you understand the areas that need more attention in your loyalty strategy. The metrics outlined in this article are the first ever loyalty metrics to be featured on Klipfolio’s MetricHQ - follow this link or simply type "loyalty" into the search bar on MetricHQ to learn more about measuring your customer loyalty with metrics developed by Differly!
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