Customer loyalty creates six competitive advantages, three related to the bottom line, the profitability of the company, and the three related to the top line, the growth and the revenue of the company, which are really the two things a company tries to manage, primarily to deliver the shareholder / stakeholder value.
- Profitability (Bottom line)
-
- Command higher prices than competition
- Great insulation during a crisis
Your loyal customers generate new customers more effectively, more efficiently than any amount of money you will spend on your own.
-
Loyal customers give you so much of feedback and co-create new products and new ideas and new innovations, which is a top-line growth model