Increasing Customer Loyalty
September 1, 2017
Like you, customers have their favorite places they shop for everything they need. Whether its tennis shoes or groceries, customers form opinions about certain brands and form undying loyalties to the ones that best suit their diverse needs. In today’s competitive marketplace, improving customer loyalty is essential to maintaining strong market share and growth in the future.
Building and maintaining customer loyalty can be a balance between several different components. Customer experience, incentives, feedback, and community involvement can be powerful facets to not only building loyalty among your customers but also the future of your business.
Don’t sell a product or service, sell the experience
All too often business get caught up in promoting their products or services. Advertising sales, discounts, and company events can seem like the norm in a growing and crowded marketplace. What many businesses fail to acknowledge is that brands are far more than what you sell to your customers.
The most successful and brand loyal companies surround themselves around an experience. Take for example the amusement and theme park Disney World. It offers guests rides, food, shows, and entertainment all in one unique place.
Almost any amusement park can offer their guests rides and entertainment. What makes Disney so popular with customers and keeps them coming back year after year? The experience!
From touring thrilling attractions, to the joy of watching your children interact with different Disney characters, Disney and their associated theme parks have mastered the art of creating an immersive experience for their guests. Every year millions of guests return to Disney’s parks to relive their experiences and this for themselves.
Create Customer Loyalty Process
Building customer loyalty is a process that takes time and persistence. Trying to increase customer loyalty shouldn’t be an afterthought for customers who already purchase your products or services. To successfully build customer loyalty for customers both new and recurring, you need to implement a clear process from the start.
Whether a customer is just becoming interested in your brand or they’ve been buying from you for years, you need to create a unique way to keep them engaged. Many companies offer Membership & Rewards programs to incentivize customers with first-time buyer discounts or point-based programs for loyal shoppers.
These incentives are a great way to get customers thinking about your brand and the benefits of buying your products or services. Whether you choose to offer unique deals on customer’s birthdays, or discounts on frequently purchased items, letting your customers know you’re thinking of them is one of the best ways to increase their loyalty.
Feedback is Key!
In basic terms, customers are loyal to brands that help them satisfy their wants and needs. You can have a phenomenal product with outstanding advertising, but if what your offering fails to meet what your customers are looking for, your sales and loyalty will ultimately flop.
Customer feedback has always been a top concern for companies across the globe. Everything from focus groups, surveys, and key research methods have been used to uncover insights into what customers look for most in what they buy.
To increase loyalty (and sales) for your brand, you need to develop a firm understanding of what your customers are looking for most. Do they come to you for outstanding customer service, or is your product unique to what your competitors are offering? Do you have a great location, or are you the only provider in town?
Knowing this will help you showcase your strengths and improve your weaknesses. Moving in the right direction will help you improve your market share, customer loyalty, and overall sales.
Brands today are about far more than selling experiences and bolstering sales. Companies across the nation are taking initiatives to give back to their communities through volunteering and supporting non-profit organizations. Customers are taking notice and supporting these companies in their efforts.
Sponsoring food drives, 5k runs, and lending a helping hand at events are a great way to give back to your community. Whether it’s for a small non-profit or nationally recognized organization, customers love to see their hard-earned dollars supporting a great cause and making an impact.
This not only leads to customer support and loyalty but can also lead to great PR. Putting up a banner in your store front window supporting an organization’s event or having a shout-out in a press release is a great way to create a candid feel for your brand and let customers know you care about your community.
Feel like your brand needs a breath of fresh air? Looking to make some changes? Think VIG!