How To Use Psychology For Creating Brand Loyalty?
Brand loyalty is one of the most important assets for a business. Many studies and data clearly indicate that acquiring a new client is 25 times more expensive than re-targeting the existing customers. There are two different types of strategies that businesses adopt in order to get sales, which are as follows- Customer Retention Customer Acquisition Customer Acquisition vs Customer Retention If you are a business owner or an executive, focusing on getting more sales and income for your business then differentiating between these two terms will save you fortune. Being on the profit side of the equation is not only about getting more sales but also keeping your expenses in order. Customer Retention is serving your existing customers to ensure that they are not facing any problems related to your product or services. If a customer purchased your product then they are more likely to buy from you again. These types of customers are called brand loyal customers. People...