Concept
of Loyalty
Loyalty
- maintaining relationships in the long term with the company's most
profitable clients, ensuring they increase what they buy.
Loyalty,
as it is understood, implies the establishment
of solid bonds and the maintenance of relationships in the long term
with clients.
Therefore,
we go from a centred marketing in the short term to a marketing with
a strategic focus. Previously, many companies concentrated on sales
and they thought that they had concluded their relationship with the
client as soon as they were paid. However, the increase in competition,
new legal obligations and growing consumer demands means that a company
has to pay attention to customer satisfaction.
The concept
of loyalty implies that consumers carry out all or the majority of
their purchases of a certain type of product in our company. A fundamental
aspect is which percentage respresents the company's sales of a certain
category of products thanks to the client.
For example,
a consumer that for the past two years has bought its shirts in
the Corte Inglés is a faithful client. A consumer that only
drinks Coca Cola is a faithful consumer. A consumer that for years
carries out its banking with two banks, maintaining its bond with
both, is a faithful consumer.
If I'm
in charge of a restaurant, one of my main concerns will be getting
faithful clientele. The business will be a great success if a certain
group of people are clients for years. Even if this group of faithful
clients eat in other restaurants some days.. Therefore, a fundamental
aspect is knowing how much my clients spend in bars and restaurants.
Another
aspect to consider from the marketing perspective is to try and maintain
certain cleints, normally the most profitable, whilst it is often
better to get rid of other less profitable clients.
