Why brands should appreciate their loyal customers

While customer service is ranked as one of the lowest in priority by many businesses, it can be shown that building up that customer service and loyalty can be far more beneficial in the long run for a company. According to data the highest ranked priority of businesses social media plans is to increase brand awareness, and the lowest is focusing on customer service. While awareness is certainly important, it is known that it is far more financially beneficial to have a strong pool of loyal or repeat customers. Current customers reveal a large potential for the financial security of brands because it costs less for brands to keep customers than it does to convert new ones. Current customers can be relied on to keep a business going even when they are focused on growing to larger markets. For a business using social media, this knowledge and appreciation of loyal customers can be large determining factor on their social media strategy. Social media platforms can be used more to engage with current followers and fans of the brand to continue to strengthen that relationship, rather than gearing towards people who have never heard of the brand. Strategies including exclusive opportunities for loyal customers that make them feel special or involved like signing up for newsletters targeted to them, is a way in which more brands should be attempting their social media strategies. When a business has a large base of loyal customers who will stand by the brand, even in tougher times, is what helps these brands stay afloat and allows them to grow.

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