In the age of the empowered customer you need more than the data you get from social media, CRM systems and other analytics tools. Your last competitive advantage will be the relationships you build with your customers; relationships that are crucial to the success of your brand by helping you stand out in the market.
Showing customers the love and respect they demand and deserve is good for business. Companies who love their customers, get a lot:
A 2% increase in customer retention has the same effect as decreasing costs by 10%.
Source: Leading on the Edge of Chaos, Emmet Murphy & Mark Murphy.
On average, loyal customers are worth up to 10 times as much as their first purchase.
Source: White House Office of Consumer Affairs
The probability of selling to an existing customer is 60–70%. The probability of selling to a new prospect is 5-20%.
Source: Marketing Metrics.
Are you ready to make the commitment to love your customer?
In the new eBook, The Four Tenets of Customer Love, we reveal how embodying the ideals of love helps you deliver better products and more refined services to engage your customers. Download now and take your first step toward embracing the tenets of customer love in your organization.