Why should a company measure loyalty? Select all that apply.1 pointIt reveals where they can manage customer relationships more effectively.It allows them to save money.It helps them to assess and refine strategies to keep customers.It indicates how many ads to show potential customers.

Why is it important to know about brands and their values?1 pointIt reduces costs.It improves your products.It guides marketing and sales efforts. It promotes your services.

Question 8Why is it important to measure outcomes at each stage of the marketing funnel?1 pointIt helps you find out what you're doing right and wrong, and where you can improve.It makes your ads more desirable.It reduces your budget and allows you to spend money on internal needs.It shows you which customers will spend more money.

Customer LoyaltyThere are five questions associated with this passageSuccessful companies try to increase revenue and reduce costs by building strong customer loyalty. They do this by providing value in their products and services.Companies that are successful know that customers build relationships with their employees. The quality of these relationships affects how customers view the company. If employees offer higher levels of service, then customers feel better about the company.Employees can give better service to customers if they know more about their company’s products and services. The longer that employees stay with a company, the more they know about what it has to offer customers.Having more knowledgeable employees often means that a company can offer better service to its customers. As the quality of service goes up, customer loyalty also goes up.Companies benefit in the following ways by building customer loyalty:Sales increase as repeat business and referrals increase.The cost of finding new customers is reduced.Employees become happier because they are valued by loyal customers.Most importantly, as revenue goes up and costs go down, profits increase.It is almost impossible to build strong customer loyalty without knowledgeable, committed employees. It appears that customer loyalty and employee loyalty go hand in hand. Therefore, both customer loyalty and employee loyalty are essential to a company’s success.What happens when loyal customers value the services provided by a company?Employees become more satisfied with their jobEmployees become more knowledgeableEmployees become more concerned about customersEmployees improve their job performanceEmployees share in the company’s profits

Why is it important to learn about your audience? 1 pointIt enables you to create a quick sales plan.It enables you to create tailored content for social media and set meaningful goals. It enables you to create a print ad campaign.It enables you to offer a first-time customer discount.

Identify which of the following is considered a benefit of maintaining accurate records*1 pointIt makes it easier for the business to function as there is less likelihood of errors.It helps the business comply with its reporting requirements to the ATO.All answers are correctIt provides accurate information that can assist with decision making.