The value of building customer loyalty shows in your bottom line. You know that attracting new customers is important but still not the crucial part of your loyalty program. It’s just the first step, next comes building customer relationships. It can cost your company 5-7 times more to find new customers than to retain one, so nurturing and engaging consumers once they have chosen your brand is key to big savings and a successful ROI in the long run.
Customer Insight Group, Inc. recently released an infographic that highlighted common customer loyalty concepts like communication problems when it comes to rewarding customers.
