What is Loyalty? A Feeling, Expressing Strong Support for Someone or Something
It’s a term that has redefined the way we do business. More and more organizations are discovering that the key to long term business success isn’t rooted in what you are selling but rather who you are selling to. Developing loyal relationships with customers keeps businesses thriving year after year. Just think about what keeps you going back to some of the same retailers or service providers. It’s easy to see why loyalty and customer relationships are an essential component of business today. In fact, 70% of buying experiences are based on how the customer feels they are being treated.
A former director of a telecommunications firm captured the concept of customer loyalty quite well: “Today’s competitive markets require that we not only sell and service more customers than ever before but that we stay closer to each one.” And organizations have been getting a lot closer to customers. In fact, loyalty program membership grew 26.7% from 2010 to 2013 and the average consumer is a member of 7.4 loyalty programs!
However, your loyalty experience as an everyday Starbucks consumer is a lot different than your experience purchasing marketing automation software for your small business. Why is that? What makes B2B loyalty programs different from B2C programs? What can B2B marketers learn from B2C marketers and vice versa? Join us on this 4 part loyalty series as we dive into customer loyalty with a focus on B2B organizations:
Part One –Why Loyalty? : The Importance of Loyalty Programs for B2B Organizations
Part Two – Rewards, Rewards, Rewards: How to Pick the Right Customer Reward for a B2B Loyalty Program
Part Three – The Perfect Package: How to Deliver a B2B Loyalty Program to Customers
Part Four – Loyalty Lessons: What B2B Organizations Can Learn from B2C Loyalty Programs
Stay tuned over the coming days for each new part!
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