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Tashkent institute of finance the subject of english
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| Sana | 14.11.2023 | | Hajmi | 18.82 Kb. | | #98442 |
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THE MINISTRY OF HIGHER EDUCATION OF THE REPBLIC OF UZBEKISTAN
TASHKENT INSTITUTE OF FINANCE
THE SUBJECT OF ENGLISH
ESSAY
Theme: How do we achieve customer loyalty ?
Done: ___________.
Assessed: ____________
Tashkent 2023
Essay
Most businesses formulate their marketing strategies targeting new customers. While it is important to increase the customer base, businesses must not overlook the critical role played by existing customers in the company’s growth. Customer loyalty is often connected to the inclination of a customer to continue associating with the company. This paper looks at some benefits that can be realized by promoting customer loyalty, as well as ways of increasing e-loyalty.
Loyal customers offer the company a chance for repeat business as they are likely to purchase company products on several occasions over a period of time. Contingent on the type of business the organization conducts, the company is likely to sell more products to a loyal customer than to ten first-time customers. Retaining the loyal customer base is also considerably cheaper and, therefore, more profitable than attracting new customers.
In order to maintain customers in the long-term, e-companies need to offer added value in their products. The internet enables companies to tailor goods and services to fit customer preferences. The company can use the records of the customer’s previous visits to understand the customer’s needs. Customers are likely to appreciate the personalized experience. The company can also design its website interface in an interactive and an easy-to-use way that motivates the customer to perform repeated visits. The website ought to be registered with search engines that enable customers to access different products easily. An appealing website presents a good face of the company to clients and motivates customers to identify with the company.
To conclude, customer loyalty is important in maintaining competitive advantage in any business. E-loyalty is even more important given the competitive nature of e-commerce. E-companies, therefore, need to work on their websites and products to make sure that their customers can identify with the company, and to encourage referrals.
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