Why is customer retention important?
Customer retention is an important part of a company's growth and success. Businesses rely on loyal customers to stay afloat and grow, as word-of-mouth recommendations fuel sales and create opportunities for new clients.Mamie Dardashti21/09/20215 minutes 31, seconds read0 Comment
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Boost the referral programme by offering rewards to both senders and receivers, encouraging customers to spread the brand across different channels, and creating motivating and shareable referral messages. While it is obvious that returning customers who spend more money are good for business, there are other, more subtle benefits for loyal customers.
Customer loyalty is a measure of the likelihood that a customer will make a repeat purchase with a company or brand. It is the result of customer satisfaction, positive customer experiences and the overall value of the goods or services the customer receives from a company.
Someone who is loyal is reliable and always faithful, like your trusty dog. Loyal comes from the Old French word loial, which means something like legal, but if someone is only loyal to you because the law requires it, that is not true loyalty, which must come from the heart, not from a contract.