Customer Satisfaction
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Customer satisfaction is what ensures that most businesses get repeat custom and continue to thrive. Only businesses that operate in a monopoly can alienate their customers and yet still ensure consistent revenues, because of the lack of alternatives. However, most consumers with a choice will abandon companies that consistently offer bad service, inferior products and uncompetitive pricing by taking their business elsewhere.
many companies operate customer loyaltymarketing programmes in an effort to attract and retain customers. The real secret to customer retention is ongoing customer communication; encouraging brand loyalty through familiarity. Knowing what motivates your customer when it comes to how they regard your brand is very important, as is what motivates their buying decisions.
Customer loyalty can be encouraged by using all the relevant tools in the marketing arsenal and if used effectively will result in an improvement to the bottom line. If you are managing a company that does not have the internal expertise to exploit such marketing activity you should consider using specialists; the cost of which will be recouped by an increase in customer retention levels.
Ensuring the use of focus groups, constant customer communication and establishment of customers individual preferences will ensure that you get high value from customer loyalty marketing programmes. Once you get to know your customer you will easily be more able to make changes for the better to your offerings, and also give customers repeated benefits in exchange for their loyalty.