Brands’ constant focus on the acquisition of new customers and disregarding existing ones can harm customers’ loyalty towards them.
Treating every customer as an individual and building a long-term relationship with them can help brands establish customer loyalty. This article argues that before online shopping arrived, customers were more loyal to brands because businesses recognised their regular customers and offered them personalised treatment.
The author argues that brands can also cultivate the same loyalty in the digital era by establishing a deep understanding of their individual customers. This understanding can be achieved if marketers can collect and analyse customer behavioural data from all available sources and start recognising patterns.
Understanding customer data can help marketers recognise them, welcome them and improve their shopping experience. This can not only help marketers to retain existing consumers but can also help them build lifetime relationships with newly acquired customers.
[4 minute read]