Enhance Customer Loyalty With Relationship Marketing

It costs less to retain existing customers than it does to attract new ones.

Dogs are loyal. But are your customers? (image from subscription)

Loyal customers are profitable.

They purchase from a business more than once.

They tell their friends.

Businesses do not need to invest as much into marketing to attract new customer leads.

We all want loyal customers, right?

This article explores the relationship marketing strategy and tactics businesses can use to encourage loyalty from their target customers.

What is Loyalty?

The mass-marketing approaches of the ’60s and ’70s ignored the role of customer loyalty as an essential parameter of marketing activities. There has long been a shift from this transaction based-approach into a relationship-based strategy.

The focus changes from acquisition to retention. The new goal is to enhance customer loyalty by focusing on existing customers' lifetime value…