Creating customer loyalty is increasingly important in today’s marketplace. While today’s customers prefer certain brands, they can be easily swayed to another brand through price, access, reputation and perks. Being a standout brand that inspires customer loyalty can be a major marketing strategy for your business. Today, new customer acquisition costs 5 to 10 times more than customer retention. Loyalty pays, too. Happy long-term customers spend nearly 70% more than new ones.
Contemporary consumers are constantly exposed to advertisements that make them aware of their many options. It’s also easier than ever to hop on the internet and find a brand that costs less than the brand they were planning to buy. All of these reasons make capturing the attention of your customers—and keeping it—extremely important.
Loyal customers not only purchase your products or services consistently, they are also more likely to recommend your brand to others. In this post, we’ll discuss some concrete methods to build customer loyalty that will create huge dividends for your business for days, months, and years to come.
Provide Excellent Customer Service
In today’s world of instant feedback, excellent customer service is critical. Just a handful of poor reviews on Yelp or another online business review site can greatly affect your reputation. Customers that have had a bad experience are often more likely to take the time to review a business than customers that have had a good experience. Providing great customer service doesn’t just mean treating your customers well at the point of sale, it also includes handling complaints with professionalism. On platforms like Google, Yelp, and Facebook, customers can see first-hand how you handle complaints or negative reviews. Engaging with dissatisfied customers is just as important as engaging with satisfied customers, if not more so. Make excellent customer service your mission and handle positive and negative feedback promptly and appropriately.
Add a Personal Touch
Automated customer service is fading away because more and more consumers are demanding a more human touch from the businesses they patronize. In fact, the more you can personalize your marketing to a customer’s needs, the more successful you’ll be at creating customer loyalty. Email marketing and direct mail may seem as though they don’t leave room for personalization, but they definitely do. Personalization doesn’t have to be complicated. It could be as simple as sending emails from an actual email address with an individual’s name rather than something like firstname.lastname@example.org. You can also take your personalization up a notch by using the customer’s name in the email message. Regardless of your specific method, make sure to engage with your customers on a human level and let them know they aren’t just a number.
There’s no better method for creating customer loyalty than distinguishing your brand from all the other brands out there. Constantly think about creative and valuable ways that your business can be different and better than the competition. Instead of always going with traditional marketing techniques, think outside the box. See your business from the customer’s point of view. You may be in a position to get involved in community events or charitable causes to show your customers that you care. In all of your business decisions, keep inventing and reinventing ways to distinguish yourself from your competition.
Creating customer loyalty is one of the most important things you can do for your business.
3 Ways to Build Brand Loyalty
Today’s customers are not only purchasers, they are also voracious content consumers. They want to know that their purchase will bring value to their lives beyond the product or service itself.
To meet this consumer need, there are a few specific things you can do:
- Create an excellent first impression – Make sure to create an excellent first impression that will remain in the mind of your new customer. They’ll be more likely to remember your brand—and you’ll be more successful in creating customer loyalty—if the initial impression was exceptional.
- Engage on multiple levels – Social media and email marketing are great ways to engage customers on multiple levels. You can provide a variety of different types of content offering them more information about a product they just purchased, helpful tips, frequently asked questions, and so on. These are also great methods of providing promotions for special events and deals.
- Offer a loyalty program – One way of incentivizing customers to stay true to your brand is to create a rewards or loyalty program. Customers are more likely to keep coming back if they believe they are valued. Loyalty programs can be structured to provide customers with discounted or free products or services through simple punch card point systems or more complex digital rewards systems.
Start Building Customer Loyalty Today!
- Use the information we’ve given you here as a reference for your own business
- Take time to think about how you can improve in these areas
- Create a plan to implement ideas for better customer service, standing out, and engaging with your customers to build loyalty
- Contact Valpak for help with creative, affordable ways to build consumer loyalty programs