It's All About Loyalty
Expert opinion is important, but the value of loyalty is common sense. Loyal clients buy more, don't decide strictly on price, and are the only avenue to long-term growth and profitability .
When we lose a loyal client, it is a disaster.
Yet, too often, we don't focus enough attention on our loyal clients, and we don't have a carefully thought out plan to build loyalty in the first place. Enfront's Marketing System is dedicated to major improvement on the loyalty front.
The Experts Weigh In...
Fred Reichheld on Customer Loyalty:
- ...on average American businesses spend six times more attracting new customers than on keeping them, yet customer loyalty is worth, on average, ten times the price of a one-time sale.
- Reducing customer defections five percent boosts profits 25-85 percent.
- Research studies tell us that a business is twice as likely to sell to a lost customer as to a brand new customer.
- A study by Marketing Metrics tell us that the probability of selling something to a prospect is about 5-20 percent while the probability of selling something to an existing customer is 60-70 percent."