Did you ever run a lemonade stand growing up? If not, you can surely recall seeing the scenario play out on TV or in a movie: A small child tries to peddle lemonade for a quarter — it’s young entrepreneurship at its best.
What do you do when you happen upon the adorable and smart neighbor who regularly sells lemonade on the corner to raise money for a team fundraiser, for example? You stop and buy some, right? It may not be the best lemonade in town, but you keep purchasing because it makes you feel good to patronize them. And when you buy for reasons like this, you become a loyal customer.
Using this example of a child’s lemonade stand, we’ll walk through the answer to the question, “how do you build customer loyalty?” We all know it’s important, and we know the benefits of customer loyalty, but how do we actually make customers feel the feelings and derive the value they need to keep patronizing your business again and again?