The Importance of Customer Loyalty to Grow Your Company

Having customer loyalty is key to running an efficient company. The last thing you want is bad word of mouth or bad reviews. That’s why it is so important to let your customers leave with a smile.

Coffee shop relies on customer loyalty

Whether you’re business consists of selling a product or selling a service, you should always put your customers first. Your customers are the past, present, and the future of your company. Without them in your equation, your business can be driven to the floor!

Customer loyalty is a great way to give back to your customers and let them know that they are useful and very important. Doesn’t everyone want to feel important? Of course!

Let’s dive right into some ways to keep your customers happy and how to get a have the greatest return on your investment (ROI).

Why does the experience and loyalty of customers matter?

To have a great return of investment you need to think about your customers experience. You should provide all your customers the opportunity to provide feedback because not only will it let you know how your business is being ran, what are to improve, but it also gives your customers the sense of importance. This survey should touch points such as the product quality (if you sell a product) and customer service.

Not only should you do that but you should gain their loyalty. Gaining a customer’s loyalty means they will give their friends and family a good word of mouth about your business and keep them coming back for more.

Happy customers

How to keep your customers coming in

Keeping your customers coming back and new ones coming in is another big factor to making sure you get that return of investment. According to a recent study from Experian, three out of four U.S companies with loyalty programs generate a return of investment.

Basically, you should have a loyalty program. This means if someone were to come in and buy a couple of your products rather than just one, give them a discount, they deserve it. Companies like ComfortUp and Amazon do a good job of this in their ecommerce store.

Not only will giving your customers discounts give you business but it will also make them feel loyal to your company and important. Making your customers feel important is key. There was also another study from EarthLink that found 28 percent of retailers who installed in-store WiFi reported an increase in their customer loyalty. So get yourself an in-store WiFi!

You should keep in mind to remember customers too. Not remembering your customers who come in often make them feel unimportant and invisible, no one wants to feel this way so it will lead them to go elsewhere. Somewhere where they can be appreciated for their business. KiteWheel reported that 25 percent of consumers are frustrated when a company fails to recognize them as a past or current customer so make sure to engage and remember them.

Try making a membership or giving back your customers something when they work with you or tell their family and friends to work with you. Give your customers the incentive to work with your company or buy a product from you.

Something that not many business owners understand is that you need to give your customers something for something in return, people will not go out of their way to help but they will go out of their way if there is something in return for them if they help. It’s just the way life is go with it or get left out in the cold!

So what now?

Don’t wait until the new year to change your company around. If you aren’t appreciating your customers loyalty someone else will and you will lose business for waiting around. Try and think about your company as if you were the consumer and what would you want in return for your business? Thinking this way at all times will help you better understand your customer’s needs and wants and in will result in a big return of investment!


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