From the course: Building Customer Loyalty
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Building your loyalty action plan
From the course: Building Customer Loyalty
Building your loyalty action plan
- Customers can be fascinating, there's no doubt about it. But building relationships with your customers shouldn't be left up to them. We need to put in the work on our end. To do that you need a loyalty action plan. This includes all the steps you'll take to build a customer loyalty program. Now a loyalty program is not the be all and end all to increase profits and organizational growth. But it can offer a tremendous opportunity to gain knowledge and understanding of your customer base and increase the profitability of your current customers. With a properly structured loyalty plan in place, your customers will continually move up the rungs of a carefully designed ladder of loyalty. This in turn should allow you to increase the revenues from your best customers and increase loyalty and revenue from your less profitable customers. A loyalty plan also increases customer retention and referrals. It's essential to build a loyalty plan that has value. Don't waste anyone's time offering…
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