The Importance of Brand Loyalty

Every company wants their customers to return to them and achieve brand loyalty. There are a number of reasons for this, so we’ve looked into why brand loyalty is so important and what it takes to achieve this.

Survival

According to research 80% of a brand’s future sales will come from just 20% of their already existing customer base. So this means if you have no returning customers you will make virtually no sales and therefore your business is likely to fail. Providing a good customer service and a product/service that matches its description, aka being an authentic brand, is likely to keep customers coming back for more.

Cost

Marketing campaigns can sometimes cost a lot and that is just to catch the attention or potential prospects, it does not mean you are guaranteed to close the deal. Whereas, loyal customers have already heard of your brand and know what it is all about, therefore they are more than likely to buy any new products you release.

Word-Of-Mouth

By having loyal customers you are gaining an army of free brand advocates. They are going to spread the word about how much they like your brand and therefore market your business with absolutely no effort on your part. All you have to do is then live up to your customers’ promises and all the new prospect has heard about your company.

The more customers you impress the more sales you will make and the more customers will return to your business, therefore improving your brand loyalty and growing your business. For information on the brand loyalty services that we provide head to www.credico.uk.com or email enquiries@credico.uk.com

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