Customer loyalty is the priority of marketing responsibles during crisis
More than half of the companies are investing in loyalty programs to keep their clients in the current economic conditions, according to the results of a study conducted by integrated marketing agency Gyro International.
Gyro interviewed more than 100 marketing executives from Europe, in a wide variety of sectors. 65% said it is putting more resources in loyalty marketing programs, as they begin to notice the effects of the credit slowdown. 38% claim to have significantly increased their investment in such initiatives. Among the respondents, none has reduced its budget by loyalty programs.
Gyro International also drew the fact that 83% of those responsible for investing more in marketing to establish or strengthen their relationships with existing customers. Only 2% had reduced investment in customer relationships as a result of the unfavorable economic situation.
On the results, Ana Garcia-Hierro, CEO of Gyro International in Madrid said: "The impact of restrictions on lending is beginning to notice in the field of marketing. The comments of those most responsible for marketing shows that companies are more aware than ever of the importance of brand loyalty. Instead of trying to get new customers are focusing on maintaining existing customers, while strengthening existing relationships in order to minimize the impact of the weak economic situation in their business". He added that "establishing a good relationship with key target audiences and create brand loyalty is essential to ensure business continuity, despite market conditions. Our results show it".