Loyalty Relationships

Loyalty relationships is an attempt to modify customer behavior over time and strengthen the bond between the customer and the company. This customer centric approach transforms traditional objective of high cost new customer acquisition to cost effective customer retention, from market share to wallet share, from developing short term transactions to developing customer lifetime value. The ultimate objective is to maximise the value of the relationship to the customer for the customer’s benefit and the company’s profit.

Building a highly loyal customer base is an integral part to the luxury business strategy. Brands over period become successful because they have designed their entire business systems around customer loyalty, a self-reinforcing system in which the brand delivers superior value consistently and reinvents cash flows to retain high quality customers and employees.