Media Room

Date: 11/20/2019

The Holy Grail – Customer Acquisition and Loyalty

What does every business want more than anything else?  To attract and keep good customers forever!

But that is easier said than done, right?  Understanding how to communicate with your customers throughout all stages of the customer lifecycle is more critical than ever, particularly as E-commerce giants like Amazon expand their universe.

Our research on this topic shows the following:

  • Forty-five percent of consumers say that they first heard about a new company or product through word-of-mouth, primarily a recommendation from a friend or family member.
  • When asked about the factors that most influence their likelihood to buy something from a retailer they have never purchased from before, 36% ranked comprehensive product information as their #1 priority.
  • Figuring out how to instill deep customer loyalty is critical, as 54% of research respondents say they will actually pay more to do business with a company they feel loyalty towards.

Overall, consumers rank the following factors as influential when purchasing something from a retailer they have never shopped with before:

  1. Price (47%)
  2. Quality (39%)
  3. Variety in product selection (8%)
  4. In-stock availability (7%)

Based on these consumer preferences, here are some ways to increase your customer base and instill long-term loyalty:

By Cathy Ackermann, Ackermann Marketing & PR