Did you know that compared to first-time consumers, repeat customers spend about 70% more on goods? Customer loyalty is the propensity of customers to do business with your firm again and again, which is essential to developing a successful business.
However, one of the major problems businesses face is often luring back customers to buy more from them. Stiff competition and a poorly executed customer engagement strategy could make your customers detract elsewhere for their shopping needs the next time around.
Here are 7 tested strategies for increasing customer loyalty for your brand.
1. Provide Exceptional Customer Experience
Across all industries, 68% of online shoppers abandon their carts. Cart abandonment costs businesses up to $3 billion annually, but it can be avoided by giving customers outstanding service and retaining them.
From the minute they visit your website to the time they call your customer care staff for assistance; customers engage with you throughout their entire customer experience. People also have high expectations for usability and customer service in these fiercely competitive times. Therefore, providing the finest experience to your customers is essential. One method to increase brand loyalty is by promptly responding to customer inquiries.
However, some proactive actions, like delivering a customized birthday message with a unique offer or discount code, go a long way in increasing a customer’s lifetime value.
2. Offer a Customer Loyalty Program
Creating a customer loyalty program is a great method to recognize and reward repeat business from loyal clients. In this situation, rewards are useful.
For instance, you may give your customers a discount on their subsequent purchase or a free product when they have accrued a particular number of points. These straightforward activities might motivate people to make further purchases.
The customer rewards program (7REWARDS) at 7 Eleven is a wonderful example. Through this program, consumers may earn points for almost every dollar they spend and exchange them for free snacks and beverages. Customers are encouraged to purchase more as a result since they are working toward a reward goal that they may not otherwise receive.
3. Segment Your Customers for Personalized Communications
It’s crucial to divide your customer list depending on the buying behavior and past purchases, regardless of how you want to communicate with them—via email marketing, SMS, or phone.
Nobody likes listening to sales pitches for things they’ve previously purchased or ones that don’t pertain to them. Since generic communications lack relevancy and demonstrate a lack of audience knowledge, they are rarely effective.
So, try to discover as much as you can about your customers’ buying habits, requirements, and demographics. When you do, you may categorize them and provide more enticing offers based on their interests. By doing this, you improve client interaction and encourage repeat purchases.
4. Run a Referral Program
A referral or affiliate program incentivizes your customers for promoting your business, just like a loyalty club does.
Customers are encouraged to recommend your goods or services to their network by offering them the chance to get a commission or other incentives. Not only does this aid in bringing in new customers, but it is also “lean” marketing for your business.
Customers promote your items in return for a commission on their blog, social media, video channels, or to family and friends, saving your company money on upfront marketing expenses. You only compensate or reward them when they bring you a new customer.
The best part is that it keeps your current customers coming back since it creates a reason for them to do business with you.
5. Build Lasting Relations with Your Customers
Developing enduring, close relationships with your customers is a crucial component of fostering customer loyalty. With so many social media outlets, it’s simple to establish a community and get to know your customers.
For instance, starting a Facebook group allows you to interact with your customers more deeply. It enables you to gain insightful feedback directly from those who use your goods or services. There is no greater feedback available than that.
Additionally, promoting user-generated content is simple when you have a more intimate connection with your customers.
For instance, research reveals that video marketing aided companies in achieving a 60% repeat business. Customers’ loyalty and sales might increase if you ask them to post images or videos of themselves using your items on social media.
In general, giving your customers access to behind-the-scenes knowledge about your business fosters a vibrant online community and makes them feel unique, which will keep them coming back for more.
6. Value and Implement Customer Feedback
If you want to grow your business and increase customer retention, you must prioritize customer feedback. 82% of Americans say they ask friends and family for recommendations before making a purchase, and 94% of online consumers say a bad review has prevented them from visiting a business.
You should solicit consumer feedback whenever possible if you want people to continue visiting your physical store or online site. You can better serve your customers by learning more about their needs and how they interact with your goods.
For instance, you may accomplish this by emailing a customer satisfaction survey following a transaction or by providing an easy-to-find review section on your website.
Check your web reviews as well, and if any are critical, reply to them. In fact, responding to customer feedback thoughtfully demonstrates you value your current and potential customers’ business and are dedicated to enhancing their experience.
7. Improve Constantly and Use a Marketing Platform
Make it a constant process of growth and improvement to foster customer loyalty. Pay close attention to complaints because they are indicators of your business’s operations and customer relationships.
To maximize customer happiness and loyalty, you can consider using a marketing platform that allows you to engage your customers thoughtfully. You can do all the above and more by using an end-to-end marketing platform like Qubriux that not only accelerates your revenue growth but also helps in promoting customer loyalty. To learn more on how Qubriux can help you, visit www.qubriux.com.
Conclusion
Building enduring relationships with your customers is the key to increasing customer loyalty. Additionally, building trust and excellent communication requires time and work, just like in any relationship. However, these 7 strategies will assist you in keeping the existing customers engaged and enticing them to return for more.
Have a question? Write to cs@qubriux.com.