The Paycheck Protection Program ends on August 8, 2020. We will stop sending applications to lenders on August 7, 2020 at 10:00 PM EDT/8:00 PM MDT. We anticipate that an extension to the deadline for the Paycheck Protection Program may pass in the coming days. Lendio will continue to accept applications in the interim and, if Congress passes an extension, Lendio will submit your application to our lenders when the Paycheck Protection Program resumes.
Improving Customer Loyalty in 2020: Price, Quality, and Consistency

Jul 27, 2020

Improving Customer Loyalty in 2020: Price, Quality, and Consistency

For many business owners, customer loyalty is the holy grail. Loyal customers increase revenue through repeat purchases and referrals. 

While customer loyalty is valued, it’s hard to find. Customers have become increasingly fickle and aren’t afraid to abandon brands for any number of reasons, including poor service, better perceived value elsewhere, or mere curiosity. 

Companies, on the other hand, often unwittingly contribute to this problem by scaling back benefits to reduce costs—and reducing the reasons for customers to remain loyal as a result.

It is possible to build a healthy supply of loyal customers without sacrificing profitability. In fact, by prioritizing activities designed to increase customer loyalty, you not only retain more clients—you also bring in new business based on your increased reputation and resulting new referrals.

This guide will explore what it means to have brand loyalty in 2020. What brand traits make customers the most loyal? How can your business harness them? And, most importantly, how can companies track the effects of their loyalty efforts? 

The answers to all of these questions can help your brand create a roadmap to increase customer loyalty over the next several years.  

About the Author

Derek Miller

Derek Miller

Derek Miller is a writer specializing in entrepreneurship, small business, and digital marketing. His work has featured in sites like Entrepreneur, GoDaddy, Score.org, and StartupCamp. He’s currently the CMO of Smack Apparel, the content guru at Great.com, and a marketing consultant for small businesses.

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