I’ve written many articles about the different types of loyalty and how each can affect your business’ growth and revenue. However, I’ve never written an overview of how all these components fit together in a holistic manner. Hopefully, this blog article will help put the pieces together so that you better understand these concepts more[…]
I came across an excellent blog article recently that discussed the different forms of loyalty that exist in the car business. In this article, the author described three levels of customer loyalty: brand loyalty, dealership loyalty and salesperson loyalty. He described these three different types of loyalty as follows: Brand loyalty: The focus here is on customer loyalty to[…]
The Ritz-Carlton hotel chain has an exciting customer service policy that empowers every employee with $2,000 to satisfy any guest without approval. This isn’t a one-time power but it’s per incident. Some business owners like the general idea but express concerns about providing employees with this much freedom. They worry that employees will either abuse the empowerment[…]
There are countless articles on how hard it is to create a truly loyal customer and how easy it is to lose one. Creating customer loyalty is a challenge that all businesses face. There are many techniques and strategies that can assist you along this path but, at times, we’re presented with opportunities that can accomplish this[…]
A new benchmark report published last month by RSR Research, provides some interesting information about retailers and the shifts in focus and importance from 2012 to 2013. According to the study, 61 percent of retailers feel customer retention has become more difficult, and building loyalty has become more challenging. This is a 10 percent increase from 2012. The study[…]
A recent article in Direct Marketing News offers an in-depth analysis of the typical obstacles that companies must overcome to build customer loyalty. If your business is not getting the most out of its customer loyalty program, it’s probably due to one of the following four reasons: 1. Difficulty in measuring and using data Loyalty programs cannot be measured in[…]
One challenge all businesses face is creating loyal customers. As business owners, we try to analyze our customers to figure out what methods we can use to build that base of customers which is so important to future growth. Without loyal customers, your efforts at customer acquisition quickly go from growing your business to replacing defecting[…]
There are many benefits to having an automotive loyalty program at your dealership to increase business and customer retention. You must be mindful, however, of some dangers that exist if the program is not implemented and administered properly. Loyalty programs seek to reward behaviors. For dealerships, automotive loyalty programs exist to reward customers for spending money at[…]
In the virtual world, merely unlocking the front door of your online store is hardly enough to bring in shoppers. Web surfers aren’t curious enough to open just any door—they need an incentive to come in and wander around, to tell their friends about what they see there and to come back for another look[…]
As football season approaches, I am reminded of a story that was widely publicized last spring. Joe Flacco, having just signed a $121 million contract with the Baltimore Ravens which made him the highest-paid player in the NFL, decided to celebrate by going to McDonald’s. Why would a man who could obviously afford to celebrate anywhere choose[…]