10/10/2017

Importance of Rewarding your Loyal Customers

Brand loyalty is the stage where customers choose your brand over the other. It is a state of mind among customers who are more than satisfied towards a product or service. To put simply, once you attain this, your brand stays on top of the mind of each consumer whenever they think of buying or availing a product or service.

However, these days, with the growing number of competition and advancement of technology all happening at once, the market is being overwhelmed by the number of brands, products, services, which makes it harder for every company to compete since consumers have a variety of commodities to choose from. Hence, giving businesses a hard time attaining its holy grail – customer loyalty.

That being said, it is important for your business to develop and execute sound loyalty rewards programs to attain brand loyalty among your target market.

1.    Builds Connection  

Having customer retention programs build better relationship among customers because this makes them feel valued and appreciated, especially when they receive rewards or exclusive perks whenever they purchase or avail your products or service. Intangibly, this creates deeper emotional connection to your brand, which makes them automatically grabs your product off the shelf each time they do their shopping.  

 

2.    Increases profit

A study claims that an increase in customer loyalty can increase your average profit per customer by 25% to a whopping 100%.[1] This is highly probable due to the growth of the base of your loyal customers and increase in their purchase frequency.

 

3.    Helps Develop Sustainable brands

Lastly and most importantly, an effective customer loyalty program should be able to lead your brand to a sustainable one, which depicts long-term success while maintaining competitive leverage over other players in the market or industry.

Sodexo Benefits and Rewards Services Philippines, Inc., being a service company that offers solutions to over 3,000 clients nationwide, we can offer you sustainable solutions to your pains in rewarding your loyal customers. Because with our widest and excellent merchant network, you can now offer your valued customers rewards that would allow them to shop at multiple stores of their choice.

 

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[1] https://citygro.com/mind-blowing-loyalty-and-marketing-stats/

 

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