Vitally important to the operation of a business is recognizing those who are loyal to your brand. It’s easier to retain current customers than find new ones. Also, they’re more likely to become brand advocates.
Knowing this information also helps you to consider how you promote loyalty. What does your business do to make sure customers are becoming more, not less, loyal?
Developing reward programs helps customers feel appreciated. Increasing what a customer gains over time also maintains retention. A new customer may get something free after 10 purchases, whereas a long-standing one may get it after 5. If the customer values your product, they won’t want to lose their privileges, and newer customers will want to move towards the greater benefit