In any business, it is the customers who are the backbone. No customers, no business.

It can be tempting to hunt new and potential customers, grab their attention and get them into the store, whether it's online or in a physical space. New customers are important, but don't forget the enormous value existing customers have.

We'll give you 5 reasons why customer loyalty is crucial to your business.

1. Loyal customers keep marketing costs down

It's expensive to acquire new customers! It's actually 25 times more expensive to acquire a new customer than to keep an existing one. Existing customers don't require the same marketing efforts that new customers do, after all, they already know who and where you are. Customers who have been with you for many years do not need the same type of marketing efforts as new customers. Create your own campaigns for your loyal customers, campaigns that recognize their commitment and give them real value. Never oversell to your loyal customers, it will only be perceived as noise.

2. Loyal customers act as brand ambassadors

Often, loyal customers will represent and promote your brand. They know a lot about the company, and they have experience with what you offer and may be very interested in talking about it to friends and acquaintances. Since customers are perceived as objective, this is a very good way to get attention; It is completely free and gives a high probability of attracting potential new customers.

3. Loyal customers leave good reviews

A good review online is valuable. If it comes from a customer who has been loyal over time, it is worth even more. It shows that your business can be trusted, delivers quality to customers year after year and is worth coming back to. If you are good and respond to the reviews, you further show that you are a business that invests in your customers. Should the review be bad, it's almost even more important to respond, it shows that you're serious and takes all backbits seriously.

4. Loyal customers lead to upselling

Loyal customers regularly stop by your store, and they trust you. Since this trust has already been built up, it is easy for them to try other products in the store as well. Loyal customers spend more money than new customers.

5. More loyal customers means higher profits

The obvious reason why loyal customers are important to your business is that they account for a higher portion of your total profits. The effort you put into creating loyal customers has great value, while also being a sustainable method. With the right tools, you can create a valuable customer base, while increasing revenue.