Companies should have a clear understanding of customer satisfaction and loyalty before they try to measure their success or failure and ultimately develop clear new programs. Loyalty is a relationship concept that is expressed through a variety of behaviors that create value for the company, according to 1 to 1 Media.
Loyalty behaviors include creating retention value through continued patronage, creating cross-sell or upsell value since they are buying more from that brand and driving referral and positive word-of-mouth value by recommending the company to others, the source reports.
Business Insider recommends that companies think about building customer loyalty through long-term relationships. Consumers could become even more impatient and accustomed to instant gratification for feedback and information in the future, the news source explains. When customers have established deeper, longer-term relationships with the brands they use, they will be more likely to stick with the company despite small problems that may arise.
Electronics company Best Buy recently launched a loyalty rewards program that sweetens the deal for its best customers as a way keep them from straying, according to Daily Finance. Shoppers who spend at least $2,500 a year at the stores are eligible for membership in the Reward Zone Silver program, which offers free shipping upgrades, premier access to product releases and extended returns policies.