By: Wise Marketer Staff

Posted on August 6, 2020

2019 study by KPMG reported that when a customer is loyal to a brand, 86 percent are willing to recommend the brand to friends and family. Putting our reputation on the line to those in our circle of trust is something that most people do with great care, so people’s willingness to recommend to others comes from an emotional connection made with that brand.

But we know that there are times when even our favorite brands disappoint us. What happens after our long time bank or credit union makes a mistake on an account or transaction that causes us embarrassment or anxiety, or even just costs us time? Fortunately, the power of loyalty is strong in this case too, with 46 percent of those responding to the KPMG poll saying that they would remain loyal to a brand even after a bad experience. While there is some attrition, looking at the side of the coin where customers are retained presents powerful evidence. Click here to read more.