Customer loyalty might as well be considered one of the most important factors to increase revenue, but it is easier said than done. While it is not burdensome for established companies to enjoy high customer loyalty because they are providing services for years on end and spending heavily on marketing efforts to ensure continued loyalty, the same cannot be said for smaller businesses or startups.
One of the first questions that come to your mind while contemplating to purchase a new product or trying a new service is asking why would you want to purchase this instead of buying what you usually do. Customers prefer convenience and familiarity, which makes it tougher for a company to establish its brand presence and build customer loyalty. Here are a few suggestions to look at customer loyalty through a new lens in 2019:
Engagement: Someone famous said, "The more you engage with customers, the clearer things become and the easier it is to determine what you should be doing." Instead of offering customers what you think they should purchase, ask them about their opinion and suggestions. There's nothing that makes a customer feel more valued than when you ask them what they prefer and what could be different.
Customization: In a world of AI and chatbots, voice-based smart home assistants, and online tech assistance, customers spend a lot of their time interacting with machines instead of humans. Make your brand stand out by ensuring personalization at every step. Tailor your product and services to the individuals need, making them feel like a valued customer. From small things such as addressing your customers using their name to special promotions on their birthdays, to bigger things such as bundling products or customizing the service to their needs helps build customer loyalty.
Partnerships: Your brand perception increases when you partner with another brand and offer additional services to your customers. The partnership need not be monetary and can be mutually beneficial to both the companies involved. Both the companies gain a new set of potential customers, there's little to no cost involved, and customers can leverage the benefits and in turn, be likely to purchase more and stay loyal.
Social media presence: 72% of consumers say social media helps them stay more engaged with brands. It does not matter if you are a local store owner or a B2B company with a niche target audience, a company without any social media presence is set up for a downfall. That being said, your company does not have to be active on each and every social media platform. You can choose and prioritize the social media channel that helps you connect with your customers and engage with them there.
Benefits and rewards: It all depends on how important your customers feel. Are you offering them discounts, free trials, tips and tricks to take care of their product, etc. These small gestures can have a huge impact on their loyalty. Customers are also twice as likely to purchase your product if you offer extended warranties on your products. Fortunately for you, Mulberry offers a simple integration and a hassle-free product protection plan, which ensures increased loyalty.
Building customer loyalty in today's competitive ecosystem is no easy feat, and you have to be mindful of every step you make to draw more customers in and continue to engage with your existing customers. Finally, the best way to differentiate yourself from your competition is to show your customers that you genuinely care.