The Magic Number: 3 Transactions to Customer Loyalty
Implement this rule in your business and ensure long term committed customers with ease
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Introduction
The best way to learn a new concept of business is to put yourself in the same situation and when you understand your behaviour as a consumer, you will find a way to convert that knowledge into practice for your business.
Let’s understand how brands/ businesses have managed to create a regular customer out of you, and when you see the pattern, you will find a way to adapt the same strategy for your business.
The strategy to build loyal customers for any business
Think about the following businesses:
- a stationery store
- a restaurant
- an apparel store
- a café
- a bookstore
- a supermarket
If you’re a consumer of any of these product categories and shop offline for these products, chances are good that you happened to think of a store/ business where you’ve made purchases at least three times.
The simple logic of consumer behavior says that if a customer shops/ does business with an establishment thrice, they are most likely to become a loyal customer of that business for a long time to come.
If you’re understanding the impact of this principle, applying this to your business is basically a roadmap to build an army of loyal customers for your business.
Do share your ideas/ experiences of building loyal customers for your business in the comments.
Conclusion
If you’re a business owner, make sure you design the customer journey in such a way that you give a reason to your customer to keep coming back to your business frequently.
The sooner you get your new customers to generate three visits to your business, you increase the chance of them becoming loyal to your brand,for good.
If you’d like help with creating a value ladder for your business and if you’re feeling lost, a 1:1 consultation with me is a possible solution to your dilemma.
Want to exercise that option? Feel free to reach out to me and let’s connect.Your Thoughts!
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Prompt used to create the image for the note
P.S.: Image made on Meta AI using the prompt, “Imagine a waiter being polite, smiling and talking to a table of new customers”