Loyalty is about emotion, not logic
The best customer is a loyal customer.
Hopefully most of you already know and understand this fact of life in today’s business environment. The math for most businesses is very simple: repeat customers cost less to acquire than NEW customers.
Why do some companies have higher loyalty than others?
Mediapost is doing a series covering the Brand Keys 2012 Customer Loyalty Engagement Index and in their initial post, they outline the study’s very clear findings:
More than ever, the core drivers of brand loyalty are emotional rather than rational. That’s the takeaway from the 2012 Brand Keys Customer Loyalty Engagement Index (CLEI), which marks the survey’s 16th year.
While emotional engagement factors have become more critical each year, the influence of two core, overarching components rose markedly in 2012: the brand’s “values” and the consumer’s brand “experience.”
Importantly, they note that these findings are true across the board and that most companies risk delivering commoditized products and services:
“Across most of the 83 product categories, we found that consumers’ loyalty now hinges more than ever before on the degree to which a brand has established a clear core value proposition — a differentiator that goes beyond the basic utility of a product or service,” he says. “Today, delivering on the ‘rational’ reasons to buy a brand — good or superior quality and value for the price — is just the ‘door-opener.’ If that’s all a brand is doing, it’s in grave danger of being commoditized. In fact, it’s not a brand; it’s a category placeholder.”
So, are you prepared to create emotional connections with your customers?
If you’re developing apps, you’re in a noisy market, with lots of competition. Assuming you want to be around for a while, you must be asking yourself the question: “Do my customers love me?” If you don’t know how to find out the answer to that question and to make it true for more of your customers every day, contact us, we’re helping tons of developers do just that!