Driving Business Revenue Through Customer Loyalty Essay

1185 Words Aug 17th, 2016 null Page
Driving Business Revenue Through Customer Loyalty Driving Business Revenue Through Customer Loyalty
B2B buyers can 't help but to be influenced by retail sales processes, user-friendly features and customer loyalty programs because they also buy retail goods and services over the Internet. Business-to-business platforms increasingly try to provide the same level of user-friendliness and loyalty incentives that are popular among consumers who shop on B2C websites. That means customizing displays based on each buyer, providing complete access to customer buying histories, delivering multiple customer service options, enabling onsite buyer research and providing consumerlike incentives such as B2B customer loyalty programs. A fully integrated B2B platform can provide unlimited customer-facing options that include automated loyalty programs that work differently for each stakeholder based on his or her most compelling action triggers. Competition and price-shopping are common reasons that customers switch companies, and only 12 percent to 15 percent of customers stay loyal according to a Center for Retail Management at Northwestern University report. This loyal base, however, generates between 55 percent and 70 percent of corporate revenue.[1] That 's why it 's important to nurture this core constituency to build revenue because B2B buyers respond just as enthusiastically as consumers to personalized incentives that add value to the buying experience. Strengthening…

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