The Pulse: Customer Retention | Big Village


We surveyed Americans to see how loyal they believe themselves to be to products and brands. Additionally, we asked them what they would be willing to do for the products and brands they love and what makes them turn away from products and brands.

 

Most Americans feel a loyal connection to at least some brands. About one-quarter of the population describes themselves as extremely loyal while another quarter say they are not loyal to any brand or product and happily switch often.

Attitudes Toward Brand/Company Loyalty

 

How can a brand increase their chances of becoming irreplaceable? Have a fair price, act in ways that inspire and create trust, and make sure that there is an adequate selection of options from which to choose.

What Makes a Brand / Product / Company Irreplaceable

 

Similarly, price and trust are most often given as reasons customers stay away from or end up despising brands/products/companies.

Why Customers Leave or Despise Brand/Products/Companies

 

Customers are willing to support the brands they love with their loyalty and additional share of wallet.

What Customers Will Do for the Brand/Products/Companies they Love and Despise

 

To define loyalty in terms of tenure, we asked Americans how long they have been doing business with their favorite/irreplaceable brands. Nearly one-third have been loyal for twenty years or more! A true return on investment for brands/products/companies who have worked to price products correctly, establish trust, and deliver the right mix of options/selection.

Customer Loyalty Average Tenure with Brands/Products/Companies We Love

 



Source link

Share:

Leave a Reply

3 latest news
On Key

Related Posts

Building for our AI future

Ed note: Today, Google and Alphabet CEO Sundar Pichai shared a number of structural changes to improve velocity and execution across the company. His note

Solverwp- WordPress Theme and Plugin