Customer Loyalty and Retention Strategies: Startup Starter Kit #69

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Business Basics: If your goal for your business is to increase sales, customer loyalty should be at the forefront of your strategies. Retaining customers helps with profitability, and is much more cost effective than acquiring new customers through advertising and other means. In this video, I explain the importance of customer loyalty, and share some actionable tips for your customer loyalty and retention program. I also talk about some strategies for improving your customer retention for your business.

The startup starter kit is a series of videos designed to teach business students, people interested in business, or people that are interested in running a business about the basics and fundamentals. We'll touch upon all of the basic business functions such as accounting, marketing, logistics, etc. Hope you enjoy!

Want to learn more? Don't forget to subscribe and check out the videos in the Startup Starter Kit below:

0:00 Introduction
1:07 What is Customer Loyalty?
2:28 Customer Acquisition vs Customer Retention
3:05 Customer Loyalty Importance
3:38 Example of Customer Retention (Amazon)
4:22 Creating a Customer Loyalty Program
5:21 Tip #1: Customer Experience
6:18 Tip #2: Make Customers Feel Special
7:28 Tip #3: Encourage Frequent Purchases
8:42 Tip #4: Consistent Communication & Check-ins
10:05 Tip #5: Focus on Metrics and Data Analytics
11:24 Tip #6: Creating Communities of Support
12:21 Conclusion

#customerloyalty #customerretention #startupstarterkit

[SciFirstMovieTalk]

Important information for sure - without customers where would we be! :) And the more they come back! :)

[RichMerry]

Thanks for the timestamps, very helpful for me when I return to watch.

[GUTOMOFFICIAL]

Great info Mr. Leong! I like Telus Loyalty discount! Starbucks and McDs cant be beat for rewards! Also AW, Subway, Dominos mail coupons are great.

[BusinessBasics]

Has a business wowed you with their service? Tell me more in the comments 😀