A group of business leaders joined the panel to share their experience of building customer loyalty and offered guidance on good and best practice, which SMEs could benefit by.
Jurek Sikorski, Executive Director of Henley Centre for Entrepreneurship, Henley Business School chaired the event. The panel consisted of Elizabetta Camilleri, CEO of Shopological, James Malone, VP of Worldwide Sales at Opsview and Sandra Sassow,CEO of SEaB Energy.
‘With competition never being greater than it is today, building customer loyalty is uppermost in the minds of business leaders, as well as sales and marketing professionals. Today’s customers have access to an enormous amount of information about your business and research shows that customers remain with companies who go above and beyond to create an outstanding customer experience. Since studies have shown that it costs between 5-10 times more to acquire a new customer than keep an existing one, outperforming your competition and succeeding in business depends upon having loyal customers. Building loyal customers should be a priority for every business leader.
Building customer loyalty is not easy and companies should not think that just because a customer comes back to buy it has achieved customer loyalty. Ultimately, customer loyalty is a measure of the success in retaining a long term relationship with the customer where the customer recommends the company to others and where the lifetime value of a customer is maximised’.
This was a really interesting, engaging and though-provoking event from the Henley Business School about building customer loyalty from different companies and perspectives. Here are just some of the event photographs: