CUSTOMER LOYALTY MAKES BUSINESS WORK
by Margaret Ross
In this competitive economy, customer loyalty is a necessity to keep your business growing. So how to you keep your customers and keep them coming back?
During my two decades as a business marketing strategist, I’ve observed that top performing companies focus on attracting and keeping customers. Why? Loyal customers provide greater profitability. Profits are powerful. Loyal customers spend 80 percent more than other customers. Eighty percent of a company’s sales come from 20 percent of their customers. Loyalty can’t be purchased by the pound nor can it be stocked on shelves in colorful ‘new and improved’ packaging.