Seven Types of Loyal Customers for Improved Branding
Every brand must strive to build a loyal customer base. It is vital for business growth. While brands need to acquire new customers to expand their reach, it is the loyal customers who can improve brand positioning.
Why exactly do we need loyal customers, especially if our revenue needs are met by acquiring new customers?
Businesses can grow with both tactics:
a. Targeting new customers
b. Striving for customer loyalty
However, here are a few benefits of loyal customers.
It is Cost-effective
You need to remind loyal customers to repeat purchases, whereas a new customer has to be persuaded to try a brand. So it is honestly less costly to acquire loyal customers.
Not all days are good days for any brand. Often, businesses make mistakes, and such slip-ups make a new customer contemplate their decision. Loyal customers, however, are tolerant as they have a special association with the brand.
Help Against Competition
Your competitor cannot persuade your loyal customers since they would be focused on your brand and would thus avoid comparison with other brands.
Purchase, Feedback and Referral
As discussed earlier, loyal customers often repeat purchases. In addition, they are prompt in sharing feedback and in providing excellent referrals for the brand to improve word of mouth.
What are the Types of Loyal Customers?
Not all loyal customers are the same.
So, what makes them different? What attracts them? Let's understand.