Top 3 Tech Business Decisions That Can Guarantee Consumer Loyalty: William Schantz

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Consumer Loyalty

Consumer loyalty to any tech brand is worth its weight in gold as it is the most significant factor that ensures the survival of any brand. William Schantz explains that when brands have loyal buyers, they can count on meeting their projected sales targets, which allows them to borrow credit from the market to keep innovation alive for their business.

It also helps their brand recognition and marketing stay afloat because consumer loyalty generates word-of-mouth marketing. Everyone knows the most effective form of marketing is word of mouth as it can generate a level of interest that no other form of marketing can. Plus, it costs nothing and is entirely based on consumer loyalty.

However, consumer loyalty cannot be bought in the market – either a brand has it or doesn’t. Yet, Schantz believes a business can take steps to ensure this is in your favor.

1.     Referral Partnership & Discounts

If a business wishes to have unrivaled consumer loyalty among its target audience, they need to introduce referral partnerships & discounts for its loyal customers. As mentioned above, the power word of marketing has no other form can match. So if your loyal user has additional reasons to promote you, their word will do you a lot more good.

Brands should give them special discounts for every referral they bring to the company and should always offer them the chance to pre-book their latest launch before anyone else. If brands do this, they will generate a level of consumer loyalty that is unprecedented until now.

Previous Product Trade Deal

According to William Schantz, being able to trade older products for newer models in the tech world is also one of the business decisions that brands should make if they want unparallel consumer loyalty. The reason for this is because this makes customers feel as if they are getting a special hookup, and using this, they stay with your brand longer, forging a long-term partnership.

Collect Feedback Before Commencing Production On Next Product

The final decision a brand should take if they are serious about achieving consumer loyalty with their audience is to include them in their decisions. Brands should contact and collect feedback before commencing production on their next product. If they do this, it will make their customer feel valued and remain loyal to you.

Final Thoughts

Consumer loyalty can make a brand into a global sensation overnight, and similarly, if brands lose them, they can become irrelevant even more quickly. However, knowing how to achieve it is a difficult task; hence to help you, William Schantz has explained 3 decisions that can guarantee consumer loyalty to brands. Which one, according to you, is your favorite? Let us know in the comments section.