Do you favor a particular brand of tissue? Do you still call all soda Coke? What brand of toothpaste have you used since you were little and for some particular reason, you can’t shake it off? When you go to the grocery amid rows of toothpaste brands, you make a beeline for this brand. You don’t care whether some other brand is better. That’s customer loyalty. Whether you realize it or not, being true to one brand for a long time means you’re loyal to that brand. That’s great Lakeland marketing. Nostalgia, after all, is a great marketing strategy.
But not all brands have the power of nostalgia on their sides. Not everyone can depend on how we were raised as children to remain loyal to a brand of tissue paper or aluminum foil (yes, some people only buy Reynolds!).
That’s why your marketing efforts should not only focus on bringing in new customers, but also on how these customers can remain loyal to your brand. Why? Here are some of the reasons why this is oh-so-important:
Lower Costs, Higher Sales
A third of Americans say they will consider switching brands after one bad experience. Do you know that in the US alone, losing customers costs businesses more than $140 billion a year? Bad customer experience not only stops this particular customer from going to your business again. You will lose potential recommendations.
Retaining customers lower the costs of having to acquire new customers. Building a marketing strategy does not only take a lot of time, but it costs so much more, too. Besides, developing customer trust and loyalty will increase your business revenue. The more customers trust your brand, the more inclined they are to do business with you now and in the future.
You don’t want your customers to simply buy one item now. You want them to keep coming back for more. That’s why customer loyalty is so important. It means that even if customers find a similar item in another store, they would keep coming back to yours because you have somehow gained their trust. They know they are going to get quality products from you.
Recommend to Friends
This is what you’re after from your loyal customers. You want them to recommend your business to their friends and family. This is what Lakeland marketing should be about: passing on the good news to their friends. Not
only will they help their friends find great products and services from you, but they’ll also be bringing new customers to your business. In turn, these new customers will expand your network.