Definition of Loyalty Marketing

The reasons customers leave:
No or little customer contact 67%
Product or service dissatisfaction 15%
Competition 9%
Move or die 4%
The U.S. Office of Consumer Affairs says that for every consumer who complains, there are 26 more that remain silent...
Ninety-one per cent of unhappy customers will never purchase again
Wronged customers will normally tell 8 to 10 people, and now much more with the internet.

Loyalty marketing is the management process of identifying"best customers" and utilizing customer data and insight to create, retain and grow profitable relationships. Best customers are those who are the most commercially valuable - they bring the most profit. Also important are those whose characteristics suggest that they have the potential to become categorized as best customers.

I would appreciate feedback regarding loyalty programs that have worked for your company.
Thanks

Exposure - Loyalty Building - Keys to Success

The key to self-marketing is EXPOSURE, and let's face it, realtors are a business within a business and certainly are self owned. Today that exposure means being a local celebrity (a well know person and face) plus social networking exposure for relocation leads, contacts and information.

The idea is to STAND OUT and sometimes that is for expertise in types of homes or specific desired properties (examples: condominiums or first time buyers). A slogan is helpful and it must be concise and to the point so it attracts attention and is memorable. Your image must have the perception that you are very successful. Quality brochures give the perception of success and are important, versus printing out fliers on your own printer.

Remember that marketing efforts take time to produce results. Consistent and timely marketing needs to be an ongoing process. Repetition is a key to success and persistence does produce results.

Customer - Loyalty

All REALTORS strive to find ways for keeping their customers, and developing clients to the point where they are loyal. Satisfied customers are often not really loyal customers. Loyal customers are repeat customers and/or provide referral business. "Correctly mining your customer database will create a means to acquire new clients over time. A system to creatively mine your customer database, providing meaningful and value added "Treats" along the way is a sure way of creating and maintaining a successful business."

When asked, REALTORS often relate they spend 70% of their marketing budgets on finding new customers and 30% on their existing customers. Yet, the successful REALTORS also say they get 70% or 80% or even 90% of their business from existing customers. I contend that targeted marketing to your existing customers leads to creating new prospects through your existing customers. Following up on those leads over time will produce new customers with a much greater return on your marketing budget and efforts.