With the increasing cost of everything it is getting difficult to get things running smoothly. If you are a business owner then you will understand the heat of inflation and the task of cutting costs. If we need to keep our company or brand in the race it is important for sales to keep up with the demand.
But how do we make sure that we sell things? There are a lot of things that directly and indirectly affect them. For example – brand image, product quality, product design, customer service, etc. Here, in this article, we will talk about customer loyalty which is an important part of a successful business.
What is the importance of customer loyalty for a business?
Customer loyalty is the term coined for the customer who buys products from a specific brand willingly, more than one time within a time period.
Customer loyalty is an integral part of a business. Nowadays, when everyone is fighting for customer’s attention. Customer loyalty is the key to beating your competition and stand out from the crowd. When we are talking about building customer loyalty, we must understand how customer loyalty works in favor of running the business.
We can try to understand the value that a loyal customer gives to a brand or company. If we look at the revenue statistics of the brand and divide it on the basis of the customer share. We will find that the share of a loyal customer is around 20-25 % but they make up to 70-75% of the net company’s revenue. It could be due to product quality, customer service, or the product packaging with custom printed tape or customized corrugated boxes.
When a group of people make more than 50% of the company’s profit then it is only natural to get more of them. Not just that there are many other reasons as well that make customer loyalty important. We have written them down below :
- WOMM –
WOMM stands for word-of-mouth marketing which is the best of marketing. It doesn’t cost a dime but it is the most effective way to make other people who are not your customer get a good impression of us. Especially when their dear one talks about a product in a positive light then your brand image gets a positive boost as well.
- Share of wallet
The share of wallet is the amount of money that they spend on a particular company as compared to other competitive brands. When we have a loyal customer then we have an upper hand against the other competitors.
- Faith
When a loyal customer buys from us then they don’t just buy a product for them but also a sense of faith and trust is built in between the company and the customer. This connection is the most important asset for a company.
Afterward, we got to know about the importance of customer loyalty. There is one thing that we should remember: on average it is 25% more expensive to acquire new customers than to retain an old one.
In the next section, we will talk about one factor that affects customer loyalty: Product Packaging, which is done with the help of custom packaging tape and custom corrugated boxes. Together they are called custom packaging, which we will discuss in the next part.
What is custom packaging?
Custom packing is packaging that is made from scratch according to the products. In this type of packaging, the material selection, design, color theme, dimension, and many other things are done according to the specific needs of the product and brand.
The custom packing has many parts like a custom corrugated box, custom packaging tape, customized tissue, etc.
How to use custom packaging to build customer loyalty?
In this section, we will tell you about how custom packaging can help in building customer loyalty. Product packing plays an essential role in creating customer loyalty.
There are a lot of things involved when our customer receives a package. Even before looking at a product, a customer looks at the packing, which marks the first impression. According to statistics, around 70% of people judge the product and decide if they will buy it or not. Just a glance at your packaging and you might get out of the race even before we start running.
We can prevent it from happening by making sure that our product packaging is top-notch. We have written some of the things to remember which will affect the performance of the product.
- Express yourself
Product packaging is a great way to show your customers that you are different from others. The packaging can include all the things that make your brand unique. It should talk about the brand story and your beliefs.
Good product packaging is a way to impress your target customer when the product catches the attention of the targeted customer, we have a good chance to make a sale and to get a happy customer.
- Add your logo
How will a person differentiate the packaging from the competitor or how can we imprint our brand into the mind of the customer? The answer to this question is your brand logo.
A brand logo has the power to make a strong first impression. It is a psychological thing for a human to remember a symbol better than a string of words.
- Think about the material
These days it is important to resource material that is sustainable and eco-friendly. Especially when you target Gen Z customer who ranges from age 16 – 25. This age range cares about the environment and sustainability.
At least 19% of customers will not buy from a company that is not using any environmental practices. If we put the percentage into numbers, say out of 2000 customers who have bought your product, 19% will not repeat the purchase which is loss of 380 customers who had the potential of becoming loyal customers.
In the end
We have reached the end of this article which was about using custom packaging to build customer loyalty. Here, we talked about customer loyalty and custom packaging. Their importance as well as ways through which we can use the custom packaging. We hope that we were able to deliver the information that you were looking for.
My name is Jan McPeak a professional SEO expert having Proven skills of excellent writing demonstrated in a professional portfolio Impeccable grasp of the content creation, including interview trends and expressions. I have ability to work independently with little or no daily supervision with strong interpersonal skills and willingness to communicate with clients, colleagues, and management.
