Customer trust is an indispensable asset for startup brands. When clients trust a company, they are more likely to make repeat purchases and become long-term patrons. 77% of consumers say they have stayed loyal to at least one brand for a decade or longer.
This loyalty is not just about repeat business; it also fosters a formidable defense against fierce competition in the market. Here are five ways to foster loyalty in your business.
If success and longevity are your goals, there's no excuse for poor products. You should do thorough tests for the product's intended purpose and get unbiased feedback from focus groups in each of your target markets to learn how and why consumers use your product.
Before adapting a product to a new market or launching its promotion in a new country, my company, Flowwow, makes sure to go "on reconnaissance" and monitor competitors' actions to assess the prospects.
In 2022, we decided to enter the UAE market. The company focused on providing safe, reliable transactions and sleek digitalization, matching the latest trends among Emirati and MENA citizens. A direct result of this approach was a 200% increase in Valentine's Day gift orders and a 1000% increase in overall sales turnover worldwide.
Related: If You Want to Be a Good Leader, Understand Your People — Here's Why the Best Entrepreneurs Make Time to Understand Their Employees
More than 79% of shoppers rely on reviews as much as they do on personal recommendations. That's why working with feedback is essential for creating a positive experience people can trust. But let's be honest: If........