Businesses of all sizes need to prioritise investment in their existing customers if they want to survive the cost of living crisis. Love2shop’ Free Ultimate Guide to Customer Loyalty is filled with advice from the world’s leading experts on customer behaviour to help you create a successful customer retention strategy.
The Ultimate Guide to Customer Loyalty 2023 brings together insight from Love2shop, McKinsey, Mastercard and more to update you on the state of customer loyalty in 2023.
The value of loyalty
The cost of living crisis means businesses are looking more closely at how to improve customer value. Traditionally that means prospecting for new customers, but the latest research highlights how loyalty and retention make a more significant impact on revenue.
Far from just being a measure to protect earnings, our guide advises that investing in customers can bring a huge business boost. Research shows that retaining just 5% of a customer base can increase profits by up to 95%.
With the cost of acquiring a new customer five times higher than the cost of retaining existing ones, making customer loyalty cost-effective creates a real opportunity for businesses.
Download the guide now to discover how to build a strategy for customer loyalty, the true value of loyal customers and brand advocates and how to make data work to strengthen those relationships.
With rising energy and food bills causing shoppers to reduce spending and businesses reviewing budgets amid a cost of living crisis, everyone’s pockets are being squeezed to their limits. If your customers are not happy, they will be quicker than ever to explore other avenues.
Helping you get started
Our guide includes lots of research and insight to help businesses get started or improve their customer loyalty strategy.
This includes considering customer engagement technologies, such as flexible modular solutions like the Love2shop Engagement Platform. This allows your business to create campaigns driven by customer data and automate the core engagement functions you need. Being modular makes it a cost-effective way to implement a leading engagement tech solution while retaining the capacity for growth.
Share our customer expertise
“At Love2shop, we understand that customer loyalty is the cornerstone of any successful business, but it’s an evolving challenge,” said Frank Creighton, Director of Business Development for Love2shop.
“In today’s fast-paced world, it’s more important than ever to not only retain customers, but to turn them into brand advocates.
“That’s why we’re delighted to offer our Ultimate Guide to Customer Loyalty as a free download. It aims to empower businesses with the knowledge they need to understand the true value of loyal customers, how to build lasting relationships, and how to harness data to drive customer engagement.
“It’s been proven customers may increase their spending by between 15% and 25% with businesses that have earned their loyalty.
“This guide is a testament to our commitment to innovation and our belief that by empowering business leaders with the latest insights, we can help them achieve long-term success.”
The full, comprehensive Ultimate Guide to Customer Loyalty 2023 can be downloaded by following this link.