Customer loyalty is the single most important element to retain within a business relationship. A lot of positive elements can be derived from a well-established loyal customer base. Huge amounts of money is periodically allocated to advertising, primarily to garner a bigger market share of consumers, but with the existence of a loyal customer base, these expenses can be channeled towards other better and more beneficial areas.
Companies which have a satisfactory percentage of loyal customers have the advantage of channeling funds into a self-reinforcing system in which the company delivers constantly evolving superior value and high quality products and services.
This will further create the comfortable relationship desired to continue to successfully keep the customers both happy and loyal. There is also the added advantage of the pre-existing customers who consciously help to introduce friends and family to consider using the products and services based on personal testimonies and enthusiasm.