How Innovation Affects Brand Loyalty

How Innovation Affects Brand Loyalty

Retention Rate is the best indicator of a company's long term viability. Understanding the four types of purchasing styles - Brand Laziness, Brand Loyalty, Variety Seekers, and Problem Solvers can be helpful in retaining customers. For example, for Brand Laziness, it's important not to disrupt the purchase flow, while for Brand Loyalty, consistency is key. Variety Seekers can be locked in with free trials, discounts, and loyalty programs, and Problem Solvers need as much information as possible about the product or service. The best innovators understand each type of loyalty so they can continue to provide their customers with what they want.

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More Innovation Resources:

Do You Have 5 Minutes? The True Cost of Context Switching

Using a Kanban board can improve communication and eliminate the need for status updates, resulting in increased productivity and reduced interruptions.

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A Guide to Design Thinking Strategy

A Guide to Design Thinking Strategy

Design Thinking is a non-linear approach to building and shaping using insight and empathy to solve creative problems. This article highlights the key elements and benefits of Design Thinking and how it differs from other approaches.

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Using Modern HR Tools to Gamify Training Programs

Gamification can make employee training effective and engaging by using specialized online training software with gamification elements like challenges, levels, points, competition, and collaboration.

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