<?xml version="1.0" encoding="UTF-8"?>
<article>

    <title>Building and Maintaining Costumer Loyalty</title>

    <slug>building-and-maintaining-costumer-loyalty</slug>

    
            <parent>
            <title>Volume 1 Issue 1</title>
        </parent>
    
    
            <post_type>
            <title>ARTICLES</title>
        </post_type>
    
    	
	
	<year>2024</year>

    
	<volume>1</volume>
	
    
    <content><![CDATA[<p><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">The topic of consumer loyalty has been explored by several authors in </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">the marketing literature. Customer loyalty represents an emotional, </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">positive, long-term relationship between a satisfied customer and the </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">company. The importance of this topic stems from the fact that retaining </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">existing (loyal) consumers is more cost-effective than acquiring new ones. </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">Loyal customers ensure the survival, functioning, and profitability of the </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">company. However, retaining existing customers is a complex challenge </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">that requires a lot of effort on the part of the company. There are a lot </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">of measures to retain loyal customers, including the implementation </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">of loyalty rewards programs, personalized marketing, subscription </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">services, exclusive deals for repeated customers, referral programs, </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">bundle offers, engagement through social media, gamification, event </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">marketing, exceptional service support , etc. </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">This paper aims, with the help of secondary data, to sublimate the theoretical </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">viewpoints on customer loyalty, on its building, measurement, </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">maintenance, as well as to note some of its future trends.</span></span></p>]]></content>

    
            <references><![CDATA[<p>Akin, E. (2012). Literature Review and Discussions on Customer Loyalty and Consciousness,<br />European Journal of Economics, Finance and Administrative Sciences, ISSN 1450-2275, Is-<br />sue 51 (2012), http://www.eurojournals.com/EJEFAS.htm<br />Alemany, C. (2024). Maintaining Customer Loyalty in the face of inflation, Harvard Business<br />Review, Retrieved on 5.10.2024 from https://hbr.org/2024/02/maintaining-customer-lo-<br />yalty-in-the-face-of-inflation<br />Deloitte Global report (2024). 2024 Consumer Loyalty Survey: Insights to evolve brand loyalty<br />programs, Deloitte, Retrieved on 5.10.2024 from https://www2.deloitte.com/us/en/pages/<br />consulting/articles/brand-loyalty-program-consumer-behavior.html<br />Dimitrieska, S. &amp; Efremova, T. (2021). Loyalty programs: Do companies really make consumers<br />loyal? Entrepreneurship, ISSN: 2738-7402, DOI: 10.37708/ep.swu.v9i2.2 Volume: IX,<br />Issue: 2, Year: 2021, pp. 23-32, https://ep.swu.bg/images/pdfarticles/2021/Loyalty_prog-<br />rams_Do_companies_really_make_consumers_loyal.pdf<br />Faria, J. (2024). Leading Brand Loyalty among countries worldwide in 3rd quarter 2023, Statis-<br />ta, Retrieved on 6.10.2024 from https://www.statista.com/statistics/1077882/why-consu-<br />mers-are-loyal-to-brands-worldwide/<br />Freedman, M. (2024). Your Best Asset: The Power of Customer Loyalty and Its Significance,<br />Business.com, Retrieved on 5.10.2024 from https://www.business.com/articles/what-ma-<br />kes-customer-loyalty-so-important/<br />Ipek, I. (2024). Measuring Customer Loyalty: Key Metrics and Analysis Techniques, LoyaltyLion<br />blog, Retrieved on 4.10.2024 from https://loyaltylion.com/blog/how-to-measure-brand-lo-<br />yalty<br />Jain, A. (2023). Customer Lifetime Value: A critical metric for building strong customer rela-<br />tionships, Gartner blog, Retrieved on 4.10.2024 from https://www.gartner.com/en/digi-<br />tal-markets/insights/what-is-customer-lifetime-value<br />Katz, E. (2022). How to Build Customer Loyalty, Forbes, Retrieved on 6.10.2024 from https://<br />www.forbes.com/councils/forbesbusinesscouncil/2022/06/09/how-to-build-customer-lo-<br />yalty/<br />KPMG Customer Loyalty report. (2019). The Truth about Customer Loyalty, Wonderly, Lon-<br />don, UK, Retrieved on 4.10.2024 from https://assets.kpmg.com/content/dam/kpmg/xx/<br />pdf/2019/11/customer-loyalty-report.pdf<br />McNichols, M. (2022). Customer Loyalty today: Types, Tips and Trends for engagement, Modern<br />Marketing blog, Retrieved on 4.10.2024 from https://blogs.oracle.com/marketingcloud/<br />post/customer-loyalty-trends<br />Oliver, R.L. (1999), Whence Customer Loyalty, Journal of Marketing, 63, Special Issue, 33-44.<br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">Olson, S. (2022), 7 Ways to build Customer Loyalty – and why it is important, Zendesk blog. Ret- </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">rieved on 4.10.2024 from https://www.zendesk.com/blog/build-customer-loyalty/ </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">Painter, L. (2023), Customer Loyalty: A Guide to types and strategies. Zendesk blog. Retrieved on </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">4.10.2024 from https://www.zendesk.com/blog/customer-loyalty/ </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">BRJ </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">Balkan Research Journal26 </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">Paton, J. (2022). How has Customer Loyalty changed, Dotdigital blog, Retrieved on 4.10.2024 </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">from https://dotdigital.com/blog/how-has-customer-loyalty-changed/ </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">Quatircs blog (2024). What is Customer Lifetime Value and how can you increase it. Qualtrics </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">blog, Retrieved on 4.10.2024 from https://www.qualtrics.com/experience-management/ </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">customer/customer-lifetime-value/ </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">Saleh, K. (2023). Customer Acquisition Vs Retention costs – Statistics and Trends. Invesp blog, </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">Retrieved on 4.10.2024 from https://www.invespcro.com/blog/customer-acquisition-retention/ </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">Wren </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">, H. (2024). Customer lifetime value (CLV): what is it and how to calculate it. Retrieved September </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">25, 2024, from https://www.zendesk.com/blog/customer-service-and-lifetime-cus-tomer-value/ </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">Zaki </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">, M., McColl – Kennedy, J. &amp; Diaz, D . (2023). Unlocking the Secrets of Customer Loyalty. </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">University of Cambridge, Cambridge Service Alliance, Retrieved on 4.10.2024 from https:// </span></span><br /><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">cambridgeservicealliance.eng.cam.ac.uk/system/files/documents/customerloyalty.pdf</span></span></p>]]></references>
    
            <keywords>customer loyalty, loyal consumers, personalization, referral
programs, loyalty programs, gamification</keywords>
    
    <date></date>

    <url>https://brj.ibupress.com/articles/building-and-maintaining-costumer-loyalty</url>

</article>