17 Feb Best Strategies to Increase Customer Loyalty
According to the Pareto Principle, 20% of your current customer base would provide you 80% revenue in the future. Therefore, customer retention and satisfaction are critical aspects of running a successful business. Creating a brand would drive customers to your business as they’ll resonate more with it and are likely to buy from you again. We’ve listed down a few strategies that you should deploy to increase your brand loyalty.
Make Customer Service a Priority
Majority of consumers believe a quality customer service reflects how much a particular business values their customers. It’s imperative to have impeccable customer service if you want loyal consumers. Every customer judges and evaluates each interaction with your business, and it would reflect in their decision to buy from you. They are keeping score about everything. Therefore, it’s essential that you don’t neglect the customer service department in your business.
In this age of social media, customers expect a response quickly. Studies have shown that 42% of customers want a response in the first hour of their query whereas 32% expect a reply within half an hour. Hence, living and breathing customer service is crucial for any business.
Rewarding Your Customers
As loyal customers provide a chunk of revenue for your business, it’s essential that you give back to them as well. You should establish a loyalty program and provide them with discounts, gift cards, and exclusive offers. People prefer shopping from a place that has a loyalty program as they want to save a few extra bucks. Apart from helping them save money, you also appreciate your customers for their loyalty. Customers certainly acknowledge this gesture and would choose you again over your competitors. Advertising your loyalty programs through social media would help you gain more customer traction and more revenue as well.
Take Customer Feedback
Multiple businesses commit this cardinal sin of not getting back to their customers for feedback. Instead, they go on defensive mode and would ignore any constructive criticism. With UI/UX design on the trend, it’s crucial your storefront has a customer friendly layout. If a customer complains about the design or any feature, fix it or try inculcating it. After fixing the design, let your customer know as it’ll show that their feedback is actually valuable and being implemented as well. Opening up a two-way dialogue would help your customers connect with your brand. More passionate customers are willing to provide useful information if only you are willing to listen as well.
Provide Convenience to your Customers
With competition rising in every sector, customers now have multiple options to choose from. Therefore, why would anyone want to buy from you? It’s only possible if you provide quality service/product along with convenience to the customer. Streamline your checkout process and adhere to queries directly on social media rather than an automated mailing system. You should focus on establishing killer operations and systems because if you mess up, there is a competitor ready to take you out.
Be Authentic and Genuine
We understand that selling your product or service is what pays the bills. However, if you connect with customers when you want them to buy from you, it’ll portray a negative image of your brand. Customers need to trust you that their beliefs genuinely resonate with you. Also, they need to count on your business that you’ll deliver your best output irrespective of the circumstances. Underestimating the importance of authenticity and consistency can hurt your business repute.
Don’t throw out minimal discount offers and post content for the sake of it. You should provide customers with something that they care about and would bring value to them. Understand your customer base and their personas. Tweaking your content marketing and advertising strategies accordingly will help you reap maximum benefits.
The above-mentioned strategies are the building blocks to establishing trust with your potential and existing customers. It’s essential that you inculcate the importance of customer service within your employees and train them accordingly. A single bad experience or a negative review can significantly hurt your business revenue. Therefore, for sustainability and expansion of your business customer service should be your key priority. As the cliché saying goes, the customer is always right. Well, stick to that mantra!