Loyalty Is Royalty: Ways to Earn Customer Loyalty (And More Money)July 15, 2018 Peter A. Liefer II
Customers, clients, consumers, or however you wish to call your buyers—are the lifeblood of any business. Attracting customers is the main goal of nearly all brick-and-mortar and online marketing businesses. After all, it is the customers who create demand for goods and services, and you always want that audience to be sufficiently large to keep your business afloat.
What Is Customer Loyalty?
Beyond Philosophy, a consultancy and training company, defines Customer Loyalty as “the result of consistently positive emotional experience, physical attribute-based satisfaction and perceived value of an experience, which includes the product or services.” In simpler terms, customer loyalty is a measure of how likely a consumer will do repeat business with a brand.
Repeat buyers or consumers are your most valuable customers. Even though they do not make big purchases in one go, it is likely that over time, their recurring investments will exceed your income from big one-time buyers. In fact, repeat customers spend up to 67 percent more than new or one-time customers.
How to Earn Customer Loyalty
Even though only 13 percent of retailers described themselves as “digital-first,” 51 percent of Americans prefer to shop online, and 96 percent of them have made an online purchase in their life. Furthermore, with hundreds and thousands of competitors online, getting people to visit your site, click on a link, and more importantly, become repeat customers, is more challenging than ever.
To overcome this, let us discuss the six things you can do to earn customer loyalty–and get them to keep coming back for more.
1. Share and practice your company values
Do you ever wonder what makes customers choose one brand over the other? Here’s a clue: Commitment, honesty, efficiency, and reliability—and no, these are not just adjectives—these are values that will help customers choose you over your competitors. Often, customers not only buy products, but they invest in what your company stands for. In fact, 64 percent of consumers cite shared values as the main reason they remained loyal to a business.
Also, having values is not enough; you must practice what you preach, too. Build a business culture focused on a set of shared values, which may or may not include the aforementioned, as well as other great company values such as integrity, consistency, and dependability (among others). These core values should reflect your products and services, your employees, and every decision your business makes.
2. Provide quality products and services
In line with practicing your values, if you say your product or service is superior compared to your competitor’s—you need to walk the talk. Many new and established businesses fail to live up to their promises. In hindsight, having a well-established reputation for quality and reliability can cultivate repeat business.
As an example, if you are an e-commerce site that promises to deliver orders within 24 hours, you need to live up to your end of the bargain. Remember that consumers prefer businesses they can rely on. Thus, give them that, and they will compensate you with support and loyalty.
3. Reward customer loyalty
An excellent way to secure loyalty is to reward it. Offering complementary goods, discounts, and exclusive purchasing opportunities to regular customers is a form of “nourishment,” showing that you value and appreciate them. As a result, these customers may reward you by making more purchases in the future. You can also reward shoppers and clients with a points system, or by giving them discount codes and coupons to entice them to come back.
Depending on the nature of your business, you can customize the type of freebies and rewards you offer.
4. Talk to your customers
Making time to communicate with your customers is crucial to the long-term success of your business. With that said, you must never ignore queries and qualms in your social media pages. When a prospect or long-time customer reaches out to you on social media, retaining that customer may rely on your eagerness to listen and respond.
Your customers will be much more willing to stick around when they know you are responsive to even the simplest concerns.
5. Encourage customer feedback
Are your customers satisfied with your service? What did they like (or dislike) about your products? Is there something you can do to improve your business? — These are questions best answered by people who have tried and tested your business.
Since over 88 percent of online shoppers incorporate reviews into their buying decisions, you need to make sure that your products and services receive excellent reviews. How? By asking for feedback! You can use a myriad of platforms to gather responses, including an online survey or questionnaire.
As an example, many e-commerce sites reward customers who leave reviews with store credits and discounts, which further encourages them to provide their feedback.
6. Make your customers feel special
Making your customers feel special, exclusive, and valued is essential to fostering loyalty. For instance, if your customer will be experiencing a delay in deliveries due to inclement weather, you can inform them through email instead of making them wait for a package that will not arrive for another 2 or 3 days.
Another way to make your consumers feel valued is through small surprises, including discount coupons on their birthday. Surprising your customers keeps your business top of mind, and reinforces your values.
Happy Customers Equals Great Business
Earning repeat, loyal customers should be a top priority for any business, including yours. As long as you focus on your customers and meet their needs with superb service, they will reward you time after time.
Need Help Securing Your Customers’ Loyalty?
If you are struggling to obtain the loyal customers your business desires, PrimeView can help plan and execute surefire ways to win customer loyalty. We know people want the best deals, but we also understand that they appreciate value. Together, we can build your brand for all to see it as the trustworthy and reliable business it is. Dial 480-970-4688 today to get a free quote.