Customer Loyalty is a Businessman’s Best Friend

Today we are going to expand on the idea of customer loyalty, an undisputed key to keeping your business thriving. If you recall last week, we posted an article about fostering customer relationships, today we would like to expand on this idea and say why exactly you benefit from having high customer loyalty.

Forbes’s customer loyalty guru, Micah Solomon, wrote an insightful article on the benefits of building a devoted customer base. The most striking statement is in a quote focusing on the major danger that modern day businesses deal with. He writes:

“The primary threat to a business today is the perception by customers that all you offer is a replaceable interchangeable commodity. This hazard stalks your every move: No matter how solid your business’s advantage may appear right now…eventually your business model is going to be knocked off.”

No business is totally immune to this threat. iTunes is faltering to Spotify, taxis are fighting Uber services, all across the world, solid business models eventually succumb to a sleek, more attractive option. So how might you prevent this within your own business? The answer is creating a brand that engages with customers on a meaningful level in order to establish strong customer loyalty.

There are a few ways you can go about developing a relationship with your customers. If you recall our article from last week, there is a short list of good practices to get into. The other solution is investing in the TradeOn app for your business.

With the TradeOn app, you are allowing your customers to participate in improving your business through five minute surveys. In return they are given TradeOn exclusive rewards for your business, encouraging them to return. As a business, you can take advantage of these future visits by interacting with your customers in meaningful ways. The most sure fire way to keep your business relevant is to build strong customer loyalty, a consumer is more likely to do business with a familiar face than a complete stranger!

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