For all businesses, a loyal customer proves time after time to hold more value than new customers. Loyal customers can be totalled up to 10 times the value of their first purchase. Businesses are able to rely on their number of loyal customers versus the amount of off and on customers.
A strategy of remaining competitive is realizing that the cost of gaining new customers is actually higher than maintaining an existing one. From having a larger size of loyal customers, businesses have the opportunity to spend its marketing budget on improving the quality, service, and products.
The following are strategies to launch your customer loyalty.