Advantages of customer loyalty and strategies to achieve it

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Are there more advantages to retaining customers or to acquiring new ones?

Those of us who work in the world of sales know that it is more expensive to attract customers than to retain them, and I am speaking from an economic and human point of view.

It is very difficult for a company to trust you the first time they buy from you, but if things go well and the customer is satisfied, it is much easier for them to do so again.

In fact, unless your sole objective is customer acquisition, you will find that your portfolio of loyal customers is higher than that of new ones.

Therefore, for any company or business, customer loyalty is a key part of business growth.

Let's see what other advantages we can achieve with customer loyalty and what strategies we can implement to achieve it.

What is customer loyalty?
It should be noted that loyalty and satisfaction do not always go hand in hand.

A customer may be satisfied with the purchase they made from you and not repeat it.

Building customer loyalty means applying strategies and methods to ensure that customers repeat purchases and become regular customers of a brand or company.

This concept does not imply exclusivity either, since you may have a loyal customer for one product or service who also buys a different one from your competition.

Advantages of customer loyalty
In the few lines we have written in this post, we are already detecting some important advantages of customer loyalty, right?

We look at them and expand on them in more detail, so that you can see that it is really important that you dedicate resources to this crucial task.


Advantages of customer loyalty
1.- Reduces commercial costs
Salespeople's actions usually have 2 direct costs for companies:

Economic
In addition to the salary, they will probably need to travel to the client's home to do a demonstration or email list providers in france make a sales visit.

Human
They have to spend a lot of time on the tasks they perform.

It can take many months to close a customer (or even more than a year), however, when we are talking about a customer who has already made repeat purchases, you only need to carry out specific maintenance actions.

2.- You carry out Cross Selling and Up Selling
Customer loyalty allows you to increase your turnover, whether in other products of the same or another category.

You increase the amount you spend on your business.

For example, during my 20 years as a salesperson in the transport and logistics sector, it was very common for the sales team to carry out this type of action.

Those who sell land transport, for example, can do cross-selling and sell maritime transport or storage -Cross Selling- or can also focus on selling national, international land, import, export -Up Selling-.