The trend of brand loyalty is increasing as small businesses are repressed and are prevented from growing. When a new small business realizes there is no place for them in the space they have chosen, it may be too late to raise the finances they already have in the business. And to open a business, you need to invest a lot of money and double the effort. It is a shame to see that everything goes so fast.
But what if you change the term brand loyalty and make it work for you? Yes, it is difficult to find customers, when they start using your product out of fear, they still don't trust your brand, they don't trust you. Interesting and retaining such customers can be important to your business.
If you work hard to make sure your clients stay with you and become loyal to you, then you are successful. You have built this trust with the customer and it means they have made sure to always be with you. And don't forget that gossip works better than advertising on social media. Your trusted user may have friends and family. And so, your business begins to grow like a tree. Gradually, but steadily, with each new trusted user, it becomes stronger and more stable.
Statistics and facts
Bine Company's studies have generated interesting statistics that may affect your interest. 5% of customer retention can increase profits by up to 95%. Therefore, a new customer is more valuable than that. And that's why customer retention should be your priority, rather than customer acquisition.
Short or long term
However, most companies focus most of their efforts on customer acquisition. Customer engagement can be measured in people. This is a short term result and will work for short term business. But when he opens his business, it disappears in a year. Not You A retained customer can still affect your business in 5-10 years. Children of retained customers grow using their brand and will not use any other brand with their children.
Generally, it costs 5 times more to attract a new customer than to retain an old one. It shows where you should focus your attention and what you should prioritize. Now, that doesn't mean you shouldn't attract new customers. But you should think about what is most important to your business.
There are several customer retention techniques and Digital Marketing Expert in Lahore to guide the customer retention campaign. There are many ways to keep your clients interested and interested.