Loyalty Archives - OpenBusinessCouncil Directory

The Reasons Behind Apple’s Customer Loyalty: Insights from a Marketing Expert

Hernaldo Turrillo — Fri, 12 Aug 2022 14:41:28 +0000

Introduction

Apple has always been a company that focuses on customer loyalty. They have some of the most loyal customers in the world, and they are able to maintain this loyalty by offering great products and excellent customer service. The company first made it a habit that if you want to sell iPad Pro, you don’t have to form an ad on eBay, just bring your device to Apple. In this blog post, we will explore the reasons behind Apple’s customer loyalty and discuss some of the marketing strategies that they use to keep their customers happy. Thanks for reading!

What is NPS?

Net Promoter Score (NPS) is a customer loyalty metric that measures how likely customers are to recommend a company’s products or services to their friends or colleagues. NPS is calculated by asking customers to rate their likelihood of recommending a company on a scale of 0-10, and then categorizing them as Promoters (9-10), Passives (7-8), or Detractors (0-6). The final NPS score is calculated by subtracting the percentage of Detractors from the percentage of Promoters.

NPS has become one of the most popular customer loyalty metrics because it is simple to calculate and provides valuable insights into customer behavior. Additionally, NPS can be used to track customer satisfaction over time and compare performance across different customer segments. Ultimately, NPS can help companies make better decisions about how to improve their products and services and drive long-term growth.

What Are the Reasons Behind Apple’s NPS?

1. A Focus on Relieving Purchasing Anxiety

It’s no secret that Apple is one of the most successful companies in the world, and a big part of their success is due to their focus on customer satisfaction. One way they measure this is through their Net Promoter Score (NPS). Apple consistently ranks at the top in terms of customer satisfaction.

So, what’s the reason behind their high NPS? A big part of it has to do with their focus on relieving purchasing anxiety. When customers are worried about making a purchase, they are less likely to be satisfied with their purchase. However, Apple makes sure to address these concerns head-on. For example, they offer a 14-day return policy and free returns, which helps to ease any anxiety that customers might have about making a purchase. In addition, they offer extensive product warranty coverage and 24/7 customer support. These policies help to ensure that customers are always satisfied with their purchase, no matter what. As a result, Apple’s focus on relieving purchasing anxiety is a big part of why they have such a high NPS.

2. An Obsessively High Attention to Details

Any successful company obsesses over the details, and Apple is certainly no exception. Every aspect of their products, from the design to the user experience, is minutely scrutinized in order to ensure that it meets the high standards that their customers have come to expect. This attention to detail extends to their customer service as well. Apple’s NPS (Net Promoter Score) is consistently high because they go above and beyond to take care of their customers. Their employees are well-trained and always ready to help, whether it’s solving a technical issue or simply providing advice on which product would be best for a particular need. It’s this combination of superior products and outstanding customer service that has made Apple one of the most successful companies in the world.

3. A focus on employee satisfaction

Apple puts a strong focus on employee satisfaction. Happy employees are more likely to provide excellent customer service, and this creates a positive feedback loop that benefits both the company and its customers.
Apple has built a loyal customer base that is passionate about its products. This loyalty creates word-of-mouth marketing that drives new customers to the company.
Apple provides an exceptional user experience that keeps customers coming back for more. By focusing on these three key areas, Apple has been able to achieve an NPS that is the envy of the business world.

Conclusion

Apple’s focus on customer satisfaction is the primary reason behind their high NPS. By relieving purchasing anxiety, providing outstanding customer service, and focusing on employee satisfaction, Apple has built a loyal customer base that is passionate about its products. This loyalty creates word-of-mouth marketing that drives new customers to the company and helps to ensure continued growth for the company.

What do you think is the most important reason behind Apple’s high NPS? Let us know in the comments below!

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

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How Crypto Rewards Help Win and Keep Gen Z Brand Loyalty

Hernaldo Turrillo — Fri, 15 Apr 2022 00:45:24 +0000

How Crypto Rewards Help Win and Keep Gen Z Brand Loyalty

Gen Z’ers, also known as Digital Natives, are more obsessed with brand loyalty than any other generation. Their loyalty to brands is largely centered around the incentives and social capital they receive from identifying with a brand – which is something the crypto/web 3 space encompasses.

Cryptocurrencies have given users a new way to earn without actually working. One of these methods of passive income through crypto are crypto reward programs, which reward users with crypto for small tasks like signing up, watching ads, or anything else that usually involves microtransactions.

On that note, let’s learn how crypto rewards help win and maintain Gen Z brand loyalty;

What Are Crypto Reward Programs?

Crypto reward programs are systems set up by businesses to encourage customer engagement in cryptocurrency by introducing crypto incentives.

Crypto reward programs offer customers multiple avenues of earning crypto; this is especially popular with those that are interested in holding crypto for the long term.

Types Of Crypto Reward Programs

Crypto reward programs can take on different forms, here are a few;

Crypto Reward Card

Another crypto reward program comes with the crypto credit card which offers users a percentage back based on the transactions made with the card. Reward cards are not a new concept but are now introduced into crypto with the crypto rewards cards.

Crypto credit cards work like other credit cards the main difference being that transactions are made in cryptocurrency and crypto reward cards offer users crypto rewards for crypto spent on the card.

Staking

Staking involves committing your crypto assets to a blockchain as a means of verifying transactions. As a reward for staking you are offered cryptocurrency. It helps maintain the blockchain and is an easy way to earn interest on your crypto, it is also less complex when compared to mining.

Referrals

Another crypto reward program is the referral program, a lot of crypto exchange apps in order to bolster user engagement offer referral programs where you get crypto as a benefit of registering, getting people to register, and carrying out transactions on the platform, some also offer you free crypto transactions as rewards due to the fact that the charges for transferring cryptocurrency can be outrageous.

Crypto Games

Crypto games that allow players to earn crypto are also growing massively in popularity. Titles like Axie Infinity and Plant vs Undead can net players the occasional payout for playing their games. In these games, you can earn virtual NFTs (non-fungible tokens), which can be cashed out to a player’s crypto wallet.

Crypto Rewards and Gen Z Brand Loyalty

Brand loyalty is an important aspect of any industry. Over the years people have discovered that brands are built on loyal customers so what businesses do is offer their customers incentives so that they keep coming back. Loyal customers tend to purchase more and even refer other customers to the brand.

Gen Z has been at the forefront of emerging technology and makes up most of the engagement in blockchain and decentralized finance. Therefore, it becomes imperative for brands to maintain the activities of Gen Z, and the best way to do so is through crypto rewards.

Start-ups use crypto rewards as a means of advertisement to increase brand awareness and consumer engagement, the benefit of crypto rewards which is earning without putting in so much work has been a major source of attraction to Gen Z ‘the generation of the future’ who love the idea of remote work and making money from home.

Crypto rewards have bolstered the usage of cryptocurrency, introduced new users, and has grown the crypto market while at the same time maintaining current Gen Z users.

Interestingly enough, crypto rewards also encourage people in other generations to start using crypto.

Hernaldo Turrillo

The post How Crypto Rewards Help Win and Keep Gen Z Brand Loyalty appeared first on OpenBusinessCouncil Directory.

What Makes Customer Loyalty So Important?

Hernaldo Turrillo — Mon, 17 Jan 2022 19:11:08 +0000

Successful customer loyalty can be a big boost to your company. It can increase your profits, improve sales, and help achieve the sustainable growth of your business. Let’s look a little deeper into what makes customer loyalty so important, and how you can achieve it.

What Attracts Your Customers?

The old ways of getting customers to be loyal to your brand are not as popular as they used to be. Around 95% of UK customers said they wanted customers to find new ways to reward their loyalty.

Surveys have shown that good customer service, a quick and easy returns policy, and fair pricing are now big factors in customers returning to a brand or finding another.

Another key factor is brand values. If you have values that a customer supports, they are more likely to continue shopping with you.

Before you can benefit from a loyal customer, you need to find out what they want.

What Makes Customer Loyalty So Important?

Once you have started building your loyal customer base, you need to keep them. But, why do you need loyal customers, and what can they do for you that other customers cannot?

Loyal Customers Are Your Best Marketing Team

Companies spend millions every year trying to market their brand and products. While this is a good way to drive sales, your loyal customers will also do this as well. A loyal customer is more likely to recommend your product or service, and this word-of-mouth marketing is often more persuasive.

Loyal Customers Answer Your Surveys

Surveys are a great way to see what’s working and to test out new ideas. Although you may get a few people doing your survey who aren’t loyal, the vast majority will be. This is because they value your business and want to help make it better. They can also provide valuable feedback on what works well and what needs improvement.

Loyal Customers Fuel Your Sales

With a mixture of the first two examples above, you are already getting more sales and growing your business. However, these loyal customers themselves are also helping you grow by returning many times.

By nurturing customer loyalty and encouraging them to spread the word, you are making sure that your business is on an upward curve.

How Can You Build Customer Loyalty?

Companies use a myriad of ways to encourage customer loyalty. A loyalty rewards program is still a popular choice, though not as popular as it once was.

Customer service is another vital way to build trust and loyalty in your brand. Customers are 86% more likely to return to your business if they have a positive customer service experience.

If you have a number of loyal customers, try making a few of them brand ambassadors. These will be able to spread the word and actively promote your brand.

Conclusion

If you want to be a successful and growing business, you need loyal customers who can champion your brand and drive sales. Thus, by following these tips and tricks, you will be able to build the foundations for a future-proofed company.

Hernaldo Turrillo

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6 Features Your Business Bank Account Should Offer You

Hernaldo Turrillo — Wed, 22 Dec 2021 15:24:48 +0000

When it comes to switching bank accounts, or opening a business bank account for the first time, there are a range of things you’re going to want to look for.

Not too many of us understand just how much can actually be provided by your bank account beyond just a place to store your income. Some accounts offer a great interest rate, perks for using the account and even give you access to certain perks in stores and more.

In some cases you might even find that insurance comes standard on some bank accounts, or interest rates may be exponentially high for a certain period of time, giving you the chance to make some extra cash with your hard-earned savings.

That being said, let’s take a look at some of the features your bank account (for business) should offer you below.

Expense Tracking Solutions

In a post-pandemic world, there’s a good chance you’re looking to keep your savings and expenses close by you at all times, and with that, the top tip we have is to look for bank accounts that have tracking features.

You’ll be surprised to know that these solutions are still not standard across the board, and so work to do your research and look into accounts that help you track and understand how you’re spending money. This way you’re able to work to best mould your finances to suit your lifestyle better, and also grow your savings a little more while you’re at it.

This feature is especially important if you’re looking to open an account for your business, as it makes tracking your expenses that much easier without the hard work.

You can see this page for a little more information on a few perks to check for a bank account.

Financial Protection Solutions

Another perk of a business bank account is financial protection.

You don’t want to run the risk of essentially losing everything you’ve worked for to a hacker, or losing your credit card on the street and so looking for bank accounts that offer financial protections is a good place to start.

This type of protection comes in the form of insurance which may be offered at an extra fee, though some accounts do offer this free of charge if you meet deposit requirements.

Credit Score Protection

A third feature or waiver in a sense, is credit score protection for business credit cards.

We all understand that running a business can be profoundly different to managing your own savings, and sometimes a little extra risk is required to make things work for you – and that means taking out lines of credit more often than you might like.

What we suggest here is looking for business bank account features which essentially segregates your personal credit score from your business one, and vice versa. This way, you will have more freedom to undertake business as usual without the worry of credit scores damaging your business, or personal accounts. Click here to better understand business credit cards and credit scores.

Rewards and Perks

One big perk that many of us overlook are the rewards and cash back perks that come with using specific credit cards.

You want to be rewarded when you join a bank, for your loyalty to that specific financial institution and so we suggest looking for business bank accounts and cards that offer cash back perks as opposed to point systems which very rarely result in anything tangible coming from the card or account itself.

This way, you’re able to work to use your card for business expenses and be rewarded with perks and cash that can be injected right back into your business. Of course, this feature can reward unnecessary spending and so keeping an eye on expenses still remains paramount here.

Low or No Fees

No one likes bank account fees, especially if you’re a business looking to keep an eye on your cash flow, and so looking for bank accounts that feature little to no bank account fees is a good place to start.

Many banks offer accounts with zero fees for a certain period of time, or if you’re able to deposit a specific amount of cash each month. However, when it comes to avoiding fees, it’s always best to choose an account that simply has none to begin with and doesn’t require deposits to make this happen.

However, it is good to note that for businesses, these bank account fees are tax deductible, so you can remove these when it comes to tax time.

Loyalty Perks or Rewards

This feature is one that you may have to directly ask for, though it’s always worth it.

If you’ve noticed that your current bank account isn’t cutting it for you or your business and you’re just about to move banks, then it’s worth your while to call your bank and let them know. Ask for any information on loyalty rewards or perks and you may find that they have something to offer you.

When they don’t then you’re free to move banks without the concern that you might have missed out on something like a reduced rate or zero fees.

Hernaldo Turrillo

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