Consumer is King. Attracting the consumers and keeping them loyal is almost an art, which has to be mastered by all business organizations. There are two main kinds of customer relationships - Transactional and Experiential.
Transactional relationships are those which just involve the exchange of money for products and services. Experiential relationships, on the other hand, are ones that involve a feeling or an experience, something that cannot be replaced easily, or taken over by a competitor, like the kind of relationships established by corporations like Disney or Cadburys; where the customer has a sense of attachment for, and loyalty towards a product or a service.
To develop such loyalties among customers, Corporations have to think beyond the normal monetary leverages in the form of discounts, and look at more creative, experiential concepts.
Such experiential rewards can be in the form of Live Chat facilities employed in their websites, to enhance consumer satisfaction. It can be in the form of Personalization, where a company can send personalized Thank You cards and notes to their customers, thus surpassing the mundane technology dependent methods.
Another major manner to ensure Customer loyalty would be Transparency. The more the transparency of a company with her customers, the more would be the reciprocal faith and loyalty from the customer’s side. Customers are a business’s biggest assets. To enhance their growth and survive in the market amidst the intense competition from other companies, any corporation definitely requires a solid consumer base. This kind of a strong base can be founded and built by way of such creative and personalized marketing strategies.
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