April is International Customer Loyalty Month. While customer loyalty should certainly take priority every month, we recognize this is a great opportunity to analyze your loyalty and retention strategy.
First, it’s important to know the difference between a customer who’s loyal versus one who frequents your business because it’s convenient in terms of location, services, inventory or pricing. Convenience-based customers only stick around until they think another business is offering a better deal. Loyal customers form a relationship with your business and are likely to stick around for years, if not a lifetime.
The idea of convincing a customer to stay loyal for life can be daunting, but it’s much more manageable if you simply focus on convincing them to come back next time. After all, 37% of consumers report they will make five or more purchases from a business before becoming loyal1 ...[more]