Companies spend millions to attract new customers. After all, every company must continually gain new customers and expand market share. But gaining new customers is only part of the equation for long-term success; organizations must also retain repeat customers in order to survive. As a result, more and more companies are focusing their attention on boosting customer loyalty…and finding out that it’s not easy.
Brand Loyalty or Brand Bust?
According to Nielson, the celebrated market research firm, 78 percent of consumers are not loyal to any particular brand, so keeping customers loyal is already an uphill climb. The effort pays off for companies willing to do the work, however. Analysts at research advisory firm BIA/Kelsey tell us that a repeat customer spends 67 percent more than a new one. And since it costs significantly more to land a new customer than it does to sell to an existing customer, working to brace brand loyalty makes good business sense.
Make it Common
How can you keep customers loyal to your brand? One way is by examining how your common customer correspondence serves to help…or hinder…the everyday experience of your customers. A full 70 percent of customers cite poor service as a reason for leaving (McKinsey). Do your everyday documents – statements, acknowledgments, invoices and notifications – provide a level of service that will keep customers coming back? If the answer is no, it’s time to do something.
At Eclipse, we are experts at making everyday documents into vital tools to build and maintain customer loyalty. Our flagship solution, DocOrigin, was built from the ground up to enable business units, marketing specialists and IT departments to work together to create customer documents that make a difference. You can easily add targeted content, include relevant messaging and coordinate campaigns across multiple documents, accounts and lines of business. With a common and easy to use platform like DocOrigin, you’ll save money, increase effectiveness and boost the lifetime value of each customer. Contact us today to learn more.