Individual Article #2. Customer loyalty. Business & Marketing Coursework

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Customer loyalty
Customer loyalty plays a vital role in the growth and expansion of a business. An organization will not survive without happy customers who continually buy the organization’s products or services. Keeping customers buying is critical to the success of a business and acquisition of new customers (Kim, 227). In reality, acquiring new customers is costly, and such customers are likely to spend less than loyal or repeat customers.
Customers are attracted to brands that offer valuable and unique experiences. As such, they are devoted to brands that have strong corporate responsibility policies (Foster, np). Consumers only want to be associated with companies that observe sustainable business practices such as environmental conservation as well as those that support the surrounding communities. Aligning organization operations to sustainable ecological, social, and economic practices can help a company achieve retain and build a loyal customer base.
Similarly, providing timely, helpful, and quality customer service can help attract and retain customers. Customer service is an integral component in satisfying the needs of a customer. Therefore, offering top-notch customer services helps companies save customer acquisition costs and build loyal customers who can refer new customers (Foster, np). With the emergence of social platforms such as Facebook and Twitter, businesses can leverage the opportunity to offer real-time customer feedback.
Customers tend to be loyal to brands they have known for a long time. They are more likely to buy from brands introduced in childhood. As such, companies can leverage nostalgia to promote a sen...