Cross-buying : The customer is already satisfied with one of the products they have purchased and is looking to purchase other product families from your company.
In general, a repeat customer is much more russian whatsapp number willing to make a new purchase than a customer who is just starting to discover your business. A loyal customer already knows your company, knows what you offer, and even has clear expectations of what you offer.
In contrast, attracting new customers involves having them go through all the phases of the loyalty process - which is much more expensive.
In short, the great advantage of having a customer loyalty process is that you can achieve higher revenues with less investment in marketing and sales.
A side effect of having loyal customers is getting new customers quickly. In other words, doing referral marketing naturally.
As we've said before, attracting new customers means investing money in marketing and sales - each prospect must go through all the stages of the buying process. But this isn't always the case.
When you retain a customer and they make a good recommendation to someone they know, it is more likely that this new customer already has a positive opinion of your company.
This is a common occurrence in the B2B business world, where professionals talk to each other and recommend products and services on a regular basis. At Vendomia, over 60% of our customer base comes from recommendations made by our most loyal customers.
As a result, customer loyalty can help you achieve more business volume without investing so many resources in the Discovery and Interest phases .
Achieving client exclusivity
A third advantage that is not so obvious is exclusivity. A customer who decides to turn to your company again and again is very likely not using the services of a competitor.
This depends a lot on the type of business and the industry you work in. Some industries are exclusive by nature -- for example, telephone or Internet service. And in other cases, it's normal for a customer to visit several businesses at the same time, such as a supermarket.
In either case, building customer loyalty helps your company stay top of mind. Or at least above the rest.
This is known as Mind Share , and it is a very important factor in making a customer come to you first and not to the competition.
Customer loyalty strategies
Now that you know how customer loyalty works, let's take a look at some strategies you can employ.
Having a customer loyalty process is something that works in the long term - it is very difficult to get immediate results, since each customer follows a different path. Some customers will fall in love with you, almost instantly. Others will change their opinion of your business, over the course of months or even years.
In general, a loyalty strategy seeks to carry out small actions that reinforce your image in the eyes of your customers. The main objective is to make them happy and satisfied.
