Summary of The Customer Loyalty Loop

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Rating

8

Qualities

  • Applicable
  • Overview
  • For Beginners

Recommendation

Businesspeople twist themselves into pretzels recruiting new customers and closing sales. But few take the necessary steps to transform new customers into repeat buyers. Often, they don’t know how. Marketing strategist Noah Fleming provides a well-conceived, field-tested, four-stage program for developing an enthusiastic, loyal customer base. Fleming’s worthwhile book features a lot of valuable information that you can put into practice immediately, though he also tends to critique other authors and to brag a bit. Readers may bog down in his theoretical scientific and psychological material, since he doesn’t always tie it to the practical question of building customer loyalty. However, his advice about customer service is accessible and useful. getAbstract recommends his solid counsel to business owners and managers seeking strategies for developing loyal, repeat customers.

About the Author

Noah Fleming also wrote the bestseller Evergreen: Cultivate the Enduring Customer Loyalty That Keeps Your Business Thriving. His firm, Fleming Consulting & Co., works with business owners and executives to improve marketing strategy.

 

Summary

“The Customer Loyalty Loop”

Businesspeople can find any number of self-proclaimed experts who are glad to show them how to secure new customers. But while lining up new business may be fairly straightforward, developing lasting customer relationships is more complex. Yet those are the relationships that sustain your business over the long term. Despite the challenges, business owners and managers should concentrate their attention on cultivating repeat clients. Unfortunately, few firms focus on encouraging repeat shoppers. Most small businesses allocate 72% of their marketing dollars to soliciting new customers and only 23% to retain existing customers.

Bringing in new customers is more fun than attending to the needs of existing customers, but it’s “five times more valuable to keep an existing customer than it is to get a new one.” Go the extra mile to transform your current patrons into loyal clients who become repeat buyers, or “customers for life.”

To accomplish this transformation, leverage the Customer Loyalty Loop (CLL), a plan which relies on the “psychology of customer experience.” This approach will help you understand how customers think at each stage...


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