The importance of customers for any business is immeasurable. Isn’t that why we say, “The customer is always right!” That’s how much importance a customer holds! So, what’s better than having happy customers? Loyal customers! While you are working to make them happy, you need to turn them into loyal customers as well. It’s a tricky process, but it is very much possible.
Take the example of some of the biggest companies and organizations that have built up a loyal customer base. Amazon, Starbucks, and Sephora are just three examples. Another example that we can use for a loyal customer base is Xfinity. It also makes for an excellent example of a very highly competent team. Click here to learn a thing or two from the Xfinity customer support team.
Anyways, let’s move on to the topic of customer loyalty and why and how you can use it or build it!
What is Customer Loyalty and Why is it so Important?
First things first, it is important to know what exactly customer loyalty is. Customer loyalty refers to a customer’s commitment to your brand. Even if they have other options on the market, they will intentionally choose your product. Loyal customers are so important to any business or brand because they are likely to spend more and make larger transactions. The psychology behind this is that they have a certain level of trust in your brand and so, they won’t hesitate when they want something.
On the flip side, if you were to look at newer customers, they will still be skeptical and unsure of whether they trust and love your brand yet. Appealing to them will take more effort and time than if you were to launch a new product and sell it to a loyal customer. This is why so many resources are wasted on trying to attract new customers and getting them to trust the brand. However, loyal customers should not be forgotten!
How Can You Increase Customer Loyalty?
There are a few things you can do to increase your loyal customer base – some of them are mentioned below.
1. Discounts
Offering discounts is one way to appeal to your loyal customers and attract new customers as well. Whether you have seasonal/special discounts, or even just a particular day for discounts (like Monday discounts, etc.), this tactic is sure to attract customers and build loyalty toward your brand.
2. Rewards system
Making a stamp card like “Buy-9-coffees-Get-1-free” or something along those lines could really do the trick of attracting customers. Maybe you could offer a credit or points system for every purchase, which can be availed for a free product or service. This is something that will encourage your customer to come back to avail of these things.
3. Referrals
Referral programs are another great way of appealing to loyal customers and attracting new customers. You could easily offer a little discount to both parties with their next purchase. This will encourage them to make a purchase before the discount code expires. Maybe, they will even start referring to other people to get more codes.
4. Feedback
Seeking feedback and responding favorably to it helps your customer see that you value and care for their opinion or review. This helps to retain your existing customers and turn them into loyal ones. As for new customers, this helps them see your brand in a more positive light and they might just come back.
5. Make yourself available
Customers don’t just want to talk to a robot or a wall. They want to know that they are being heard and that their opinion or feedback matters. So, try to interact with your customers as much as possible and listen to their queries.
To Sum Up
In short, it is important to keep your loyal customers happy and pursue new customers at the same time. Unfortunately, a lot of businesses stop caring about their loyal customers and only focus on the new ones. This is obviously not the right way to go about it, at all. You can do these few extra things that are not so difficult and keep up with loyal customers as well as new ones.
