Customer loyalty is one of the essential things for any company to cultivate, but it’s also one of the most challenging. The happiest customers feel like they’re part of something special, and that’s precisely what you want for your business. This blog post will show you how to increase customer loyalty so that customers keep coming back for more.
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Why Is Customer Loyalty Important?
You can attract more customers by offering better products or services, but if they don’t like or trust you, they’re unlikely to return for more.
If your customers trust that you’ll deliver as promised, they’ll be willing to pay more for your products and services. To increase customer loyalty, it’s important to find out what your customers want and need from you. The more you know about their needs and preferences, the easier it will be for you to deliver precisely what they’re looking for.
Offer Discounts
Offer discounts if your loyal customers want to keep them returning. When they buy from you more than once, offer them a discount on their second purchase or even give them something for free. The more times they come back and purchase from your business, the more likely they will tell other people about it.
The 2021 Consumer Intel Report from Vericast found that discounts helped 64% of American consumers to make a purchase decision more quickly. Offer a discount if you want to get the word out about your products. This will help ensure that people are talking about your brand and what it offers.
Use Strategic Account Planning
Strategic account planning is a process that focuses on understanding your customers and their needs, so you can offer them the most relevant products and services. It also looks at how you can build on your existing customer relationships to keep them returning for more.
If you run a business that sells products or services, it’s important to understand your target market and what they need from those products. For example, if you’re selling a product designed for children, parents will likely buy it.
Hence, you have to think about what they want from that product. Strategic account planning helps you develop an organized system for identifying your customers’ needs and how best to meet those needs.
Encourage Referrals
Referral programs are an extremely effective way to engage with your customers and get more in the door, even if you don’t have enough money behind your business. According to research from RRD, 40% of consumers purchase a product after hearing about it from a friend or family member, putting it ahead of all other marketing channels.
A referral program is when you give special incentives to people who bring new customers in through word-of-mouth marketing. For example, you may offer a customer who refers another customer a free product or service, a discount on their next purchase, or some other sort of incentive.
You can use referral programs as a tool both for bringing in new customers and retaining existing ones. The more people know about what you’re doing and recommend it to others, the more likely they’ll become repeat customers themselves.
Ask for Feedback
Customer feedback is a great way to improve the customer experience. You can get valuable feedback on everything from product quality to delivery times by asking your customers what they think about your business. You’ll also get an idea of what else they might want from you, which means you can use their feedback to develop new products or services.
Not only that, but when people feel like their voices have been heard and taken into account, they’re more likely to stick around. When people feel like their ideas are being listened to and incorporated into company policy or practice, they’re much more likely to continue doing business with you than if they don’t feel heard.
A survey by BrightLocal revealed that 89% of consumers are likely to use a business that responds to all of its online reviews. So make it a point to respond to feedback and ensure you do so quickly. The sooner you respond to a customer’s complaint or feedback, the more likely they will be satisfied with your response and continue doing business with you.
Maintain a Human Connection
Sometimes when you’re working with clients, you forget they are people too. And as people who have struggled and succeeded in life, they often want to be treated like humans. In a survey by Khoros, 68% of consumers said they are willing to spend more with a brand that understands them and treats them as individuals.
When you’re having a conversation with someone, you’re not just talking about your product or even just talking about the customer’s problem they have. You’re talking about their needs, interests, and what they want from your product.
It’s not enough just to sell them something. You also want them to know you care about what they think and feel about your product and that you’re invested in their experience with it.
So how do you start? It’s easy. Start by asking questions. Find out what they like about your product and what they don’t like about it. Ask them why they bought it in the first place. Find out if any features they’d like to see added or removed. Ask them if there are any other brands they prefer over yours. Whatever it takes.
Thank Your Customers
Many things go into making a customer feel like they’ve found the right place for them. These things include reasonable prices, quality products, convenient location, and friendly staff. They all play a role in building loyalty. But one of the most important things you can do as a business owner is to say thank you every time one of your customers makes a purchase or refers someone else to your company.
Send a thank-you note or email after each purchase. Even if it’s just a handwritten note from the store owner or a short email from someone in customer service, it shows that you’re paying attention and appreciate their business. Hubspot recommends allowing customers to contact you with questions, concerns, or additional information.
Thanking customers shows them that their time and money mean something to you, making them more likely to return.
Conclusion
There are many ways to keep customers returning for more, and the key is knowing what they want. By looking at what makes them feel special and appreciated, you can tailor rewards that will get their loyalty going in a big way.
For more help understanding your consumers and how to best meet their needs, please see the resource below.
Infographic provided by Riveron – accounting advisory