In both the B2B and B2C space, companies can benefit greatly from efficient customer loyalty strategies. In fact on average, loyal customers are worth up to 10 times as much as their initial purchase. Chuck Cohn says, in order to increase the likelihood that your company sees, and benefits from, this repeat business, consider implementing these three measures:
1. Develop a positive feedback loop
• One of the best ways to encourage customer loyalty is develop a positive end-to-end user experience that makes your consumers return again and again.
2. Listen to and respect customer feedback
• Aim to provide a forum or other means of communication between you and your current and future customers.
3. Utilize data and metrics to analyze and encourage loyalty
• Utilize technology platforms to track consumer information, including how, when, and what they buy.
Read the full article at forbes.com.