Loyalty strategy: a major business challenge

Photo d'un lévrier

Magazine
Enchantons !

Loyalty strategy: a major business challenge

In terms of customer relations, every company has more or less known a time when acquisition was paramount. While it is still necessary, it is important not to forget loyalty, which is just as important, if not more so. Explanations.

Back to magazine

Back to magazine

Building loyalty to save money

 

In the complex world of marketing teams, many have heard the famous saying that retaining a customer is 3 to 6 times cheaper than recruiting one. Whether or not this is far from the truth, the fact remains that the process of retaining a customer is less costly in the long run than over-soliciting.

However, it would be unrealistic to say that this does not require a certain level of commitment and therefore a significant financial investment in order to offer ever more precise and relevant ways of building loyalty. Loyalty programmes, customer experience improvement, among others, are sometimes complex and costly to implement but remain more interesting and profitable than an acquisition strategy subject to the strict rules of highly competitive markets.

 

réunion avec plusieurs personnes qui se serrent la main

 

A loyal customer spends more

 

It's no secret that a satisfied customer is not necessarily a loyal one. It is therefore easy to imagine the efforts made to retain them. This effort pays off, however, because according to a study by Bain&Company, a company that increases its customer retention by 5% can increase its economic results by 25% to 55%.

Indeed, a loyal customer, as their seniority increases, will tend to consolidate more of their purchases within the same company, which will become more valuable over time. In other words, the more recognition a customer receives from a brand, the less their purchase decision will be influenced by price.

 

A better brand image

 

By adopting a hyper-personalized approach with the customer, we enhance their commitment to the brand. A real bond is developed with the company, enabling them to become the best possible ambassadors. This has many advantages, as it not only contributes to the company's results, but also allows the acquisition of new customers.

"Our mission at John Paul's for nearly 15 years has been to take care of the Customers that brands entrust to us, by assisting them and creating high value-added, tailor-made experiences for them. Our expert Concierges are available 7 days a week and are specifically trained to facilitate and enchant their daily lives. Our expertise creates a strong emotional bond between the brand and its customers." explains Olivier Larigaldie, John Paul Group CEO.

In the long run, a brand's entire offer will benefit from a good loyalty strategy. The services and products on offer will become better and the company's reputation will be enhanced.

 

Let's talk
Back to magazine

Back to magazine

Our readers liked

Our readers liked

Garnished dinner table
Inside John Paul

Our Concierge Whispers January 2023

Trendy restaurants, cultural outings, current events or hotels to try? Here are our three Concierge ...
En savoir plus
Press release

O Lifestyle selects John Paul's Conciergerie Services

Alain Grange, O Lifestyle's CEO has been a foremost authority and pioneer in the arena of luxury ...
En savoir plus
happy woman looking at her smartphone
Trends

Proximity: the key to a trusting customer relationship

In a number of sectors, brands are increasingly valuing proximity with their customers. This is a ...
En savoir plus
EmailLinkedInInstagram

Would you like more information?

*Required fields
By submitting this form, I agree that the information entered may be used in the context of the commercial relationship that results from it. No other processing will be carried out with my information. Learn more about our privacy policy.

Tempted
by other topics?

happy woman looking at her smartphone
Trends

Proximity: the key to a trusting customer relationship

In a number of sectors, brands are increasingly valuing proximity with their customers. This is a ...
En savoir plus
Trends
logo John Paul blanc

Quality of service, the cornerstone of Conciergerie

“Service quality? For a Conciergerie, it refers to the capacity to honour but also to exceed the ...
En savoir plus
homme souriant avec une tablette à la main
Trends

What marketing actions to build loyalty?

Customer loyalty represents a set of marketing approaches aimed at implementing means of building ...
En savoir plus
Trends
John Paul logo

Staycation and Revenge Travel: definitions of these new trends

In recent years, the tourism sector has undergone considerable change and has undoubtedly had to ...
En savoir plus
smartphone with a growth chart
Trends

How to define an effective business strategy?

En savoir plus
Trends

What is the purpose of retaining employees?

Employee engagement is an increasing concern for HR departments. Indeed, employees no longer spend ...
En savoir plus