In 2018, a study into the habits of consumers was carried out by professional services provider PwC. An insightful finding from this study was that there appears to be a distinct connection between a customer’s experience with a company and their intention to stay loyal to the same brand, with 73 per cent of people in the survey claiming that they would be loyal to a brand if they had a good customer experience with them in the past.
Building customer loyalty for your brand is important both for the brand and the consumer. While the brand reaps the benefits of further spending from the same customers returning, the customers that are continuing to return are clearly enjoying the product or service the brand is providing. Additionally, it’s more cost effective for the brand, as marketing consultancy providers Bain & Company claim that it can be anywhere between five and 25 per cent more expensive to entice new customers than it is to appease existing ones.
According to consumer experts Retail Customer Experience, brands that provide a superior customer experience are likely to bring as much as 5.7 times more revenue than brands that don’t. With this in mind, it could be worth gauging the thoughts of your customers in relation to their experience with your brand. In this post, we focus on how the choice of in-store background music could be the difference between keeping and losing valuable customers.
But, as a manager or employer, it’s crucial that you keep members of staff engaged, focused and motivated when working from home.