As a business owner, it is high time you shift your mindset from sales all the time to “service and support.” You must keep looking for ways of making your business or brand more valuable to customer satisfaction. Now you might be thinking about the reason behind the same. Well, the more valuable your business or brand is to the customers, the more likely they are to remain loyal to you and your business in the tough times. Let us now make ourselves familiar with a few ways you can build customer loyalty and maintain it efficiently.
1.Set up a Customer Baseline
A customer baseline refers to the typical or average customer in your industry or market. Having a thorough understanding of your customer baseline is imperative as it helps determine the marketing messages most likely to resonate with your target audience and enables you to track your progress over the period.
Most brands and businesses spend a lot of money and time acquiring new customers and pay less attention to their existing ones. The first step in setting up a customer baseline involves understanding your Customer Lifetime Value (CLV). It is a number telling you the revenue that every customer brings throughout their relationship with your brand or business. After getting your hands on your CLV, you may begin working on ways to increase it further.
2. Focus Well on Customer Experience
In the present era, customer experience has become the new battlefield. It’s where brands and businesses are all now fighting for customers. In the older days, brands and businesses could easily get away with focusing on selling their offerings, not on what the customer wanted to purchase. However, such isn’t the scenario anymore. In the ongoing highly competitive working environment, brands and businesses must give topmost priority to customer experience.
The term ‘customer experience’ includes aspects such as the initial contact like business website, marketing material, etc., post-purchase follow-up like customer service, warranty, guarantee, etc. Each touchpoint should be mapped out well, keeping in mind the customer, to create a seamless and positive experience.
3. Create a Customer Loyalty Program
A customer loyalty program refers to the approach built to motivate and encourage customers to continue doing business with a specific company. Some common perks include exclusive discounts, referral programs, offers, and freebies. You can develop a loyalty program in different ways; kindly ensure that it reflects your brand accurately and provides real value to your customers.
A few tips and tactics to keep in mind while creating a customer loyalty program include:
- Make sure the benefits offered are valuable – Customers must see that you are offering them value through your program; else, they won’t be motivated enough to sign up for your business or stay loyal to it.
- Make the program easy to use – The more easily customers can use the program, the more they are likely to stay engaged. Avoid incorporating complicated rules or redemption processes in your program.
- Keep it fresh and original – It is essential to ensure that the reward programs keep evolving to remain relevant. Remember, adding new benefits from time to time and modifying the existing ones shall make your customers keep coming back for more.
- Promote the program – A customer shall never be able to extract benefits from a program if he doesn’t know well about it. Hence, you must promote the program immensely to make the customers aware of it.
4. Get Personal
When we talk about connecting with your customers and building loyalty, personalized marketing can do wonders. Brands and businesses can establish a more trustworthy and intimate relationship by customizing offers and messages to individual customers. Additionally, personalized marketing can help brands and businesses stand out and emerge victorious in a crowded marketplace. In the present era of generic messaging and mass production, brands and businesses that take some time to tailor their overall approach and strategy shall be in a better position to win their customers over the period. Also, personalized marketing can result in enhanced customer retention. All in all, we can say that personalized marketing is undoubtedly a powerful tool that every brand and business should use nowadays.
5. Ask for Feedback
You must make a point to ask for feedback from your customers from time to time. You can do so via customer interviews, surveys, polls, focus groups, or any other method you feel would be most effective. By encouraging customer feedback, you open the door to valuable insights, which shall help significantly in improving your business. Besides, customers appreciate being listened to and stay more loyal to brands and businesses that take their feedback and reviews seriously. Seeking regular customer feedback can help build a stronger relationship with your customers and set up a loyal customer baseline.