This digital age has given buyers limitless information, endless choices and, overall, more power in making their purchasing decisions. All of this means more time, resources and money are poured into acquiring new customers, and it remains just as easy for the buyer to change their mind and leave your company. When this happens, it's time to devote better energy to retaining existing customers instead of continually chasing after new ones. So how do you build customer loyalty?
Customer loyalty can be the result of a positive buying experience, continued satisfaction and the overall value the customer has received from your organization. It's a reflection of that customer's willingness to rcs database continue purchasing from, or working with, your business. Look at your customer like an iceberg: the majority of potential revenue is below the surface, so when you acquire a new customer, it's just the tip of the iceberg. In fact, according to For Entrepreneurs, 70 to 95% of forecasted revenue comes from additional purchases. Let me repeat that: If you lose a new customer, you're losing 70 to 95% of possible revenue!
In the era of the marketing flywheel, creating evangelists is equally as important as creating leads. When you have loyal customers who are evangelists of your brand, you open the opportunity for testimonials, recommendations, referrals — all of the social proof you need to better fuel the growth your business. Savvy B2B marketers know it can be especially difficult to acquire new customers without this added element of trust from your current customers.
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