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International Customer Loyalty Month 2023

Seasonal | April 4, 2023 Share to Facebook Share to Twitter
International Customer Loyalty Month 2023

International Customer Loyalty Month is celebrated every year in April to acknowledge and appreciate the loyalty of customers towards their favorite brands. This month-long celebration was created to recognize the significance of customer loyalty and the role it plays in the success of businesses.

History of International Customer Loyalty Month

Trust and loyalty are crucial in business transactions. Loyalty is built on trust, and it has always been an asset for businesses. In the late 18th century, American sellers created marketing strategies to reward repeat customers with tokens that gave them discounts and services. These tokens were later replaced by loyalty programs that grew in popularity. The development of computing and data-driven strategies further emphasized the importance of consumer loyalty in business growth.

In the 1980s, companies began to focus on cultivating a customer-centric culture among their employees, leading to the creation of National Customer Service Week in the first week of October. 

In 2007, International Customer Loyalty Month was established in April to help businesses improve their services and learn about loyalty-building strategies.

Interesting Facts about Customer Loyalty 

  1. Increasing customer retention rates by just 5% can increase profits by up to 95% A study by Harvard Business School, proved this by determining “loyal customers are more valuable to businesses than new customers.”
  2. Establishing emotional connections creates loyalty  Customers who are emotionally connected to a brand are more likely to be loyal. Emotional connections can be created through positive experiences, personalized interactions, and shared values between the customer and the brand.
  3. 92% of consumers trust recommendations from friends and family  According to a Nielsen study, the positive word-of-mouth recommendations from loyal customers have a significant impact on a business’s reputation and success.
  4. Customer service matters most   While customer loyalty can be influenced by a variety of factors, including price, convenience, and product quality. Customer service is often cited as the most important factors in building customer loyalty.
  5. Loyalty is a journey not a destination  Building customer loyalty requires ongoing effort and investment. This includes staying up-to-date on customer needs and preferences, actively engaging with customers through various channels, and continuously improving products and services based on customer feedback. It’s not a one-time effort but an ongoing commitment to building strong, long-lasting relationships with customers.

What you can do to participate in Customer Loyalty Month

If you are a business owner, take the opportunity to celebrate International Customer Loyalty Month by showing your appreciation to your loyal customers. Here are some ideas on what you can do this month:

Interested in learning about more ways to improve your customer service and drive customer loyalty? Click here to learn more and get in touch today!

In conclusion, we want to simply thank you. Whether you are a first time reader, partner, or a loyal Shop Your Way Member, we appreciate you!

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