The best customer is a loyal one. All marketers know that.
The reason being that keeping a customer is much more cost-effective than finding new ones. This survey on customer retention is a few years old now, but in it, 70 per cent of companies asked said it was cheaper to retain a customer than acquire one.
The secret to retaining a customer is brand loyalty, and social media has become an increasingly important tool in achieving that goal.
The loyal customer is more likely to comment, share, like or post user-generated content to your social platforms. In doing so, they extend the reach of your marketing and secure you new followers in the process.
But how exactly do you build the loyalty we’re talking about? It might be fairly easy for large brands with globally recognised products and big marketing budgets. But if you aren’t Nike or Coca-Cola, you’ll have to work harder to persuade customers to stick around.
Find out how with this handy infographic by Business Coaches Sydney.