No matter how big or small your business is, it won’t survive without customer loyalty. One study shows that the average repeat customer spends 67% more than the average new customer. Moreover, the cost of acquiring new clients is way higher than retaining cold ones.
By investing your time, money, and efforts into customer loyalty strategies, you will make sure that your business achieves steady, cost-effective growth. Here are a couple of tried and true ways that can help you achieve that.
By talking with your customers often, you’ll always keep them fresh in your mind. That doesn’t mean you should pester them by constantly trying to chat them up. Instead, make it easier for them to come to you when they have any questions.
Your website and social media pages are your business cards. Make sure your customers can find your contact info easily and quickly. If you’re not able to provide the answers within for hours, they may go somewhere else. Responding to social media inquiries can get you far.
However, installing live chat support on your website can get you even further. It’s all about offering quick help to your customers without imposing on them. Write a Frequently Asked Questions page (FAQ) that offers clear-cut answers.
We all like to feel special. Your loyal followers are your VIPs. Treat them accordingly. Make sure to reward your most dependable customers. Discounts and gift cards will do the trick. You’ll spend a couple of extra bucks, but are sure to get a good ROI. Make sure that all promos are time-limited.
However, not all clients are looking to save a couple of bucks. And, not all perks require slashing prices for the most loyal. You can offer special “off-the-menu” services to more affluent customers. Such perks may include special meet-and-greets or the ability to skip the line.
What’s better than getting a little something extra? Getting a little something extra that money can’t buy! You can even make it a bit competitive. For instance, you can offer incentives for referrals.
A customer that brings in two friends can get a special reward. That way, you’re acquiring new customers, while ‘cementing’ your relationship with the old one. Two birds with one stone.
Building Trust Through Social Proof
The purpose of social proof is to build credibility and trust among customers, old and new alike. You’d want to make sure that your clients know they’re making the right choice by sticking with you. But, telling them that yourself won’t cut it.
Word of mouth has all the power here. Try to organically encourage your customers to write reviews and testimonials. You can publish customer testimonials on a regular basis.
When there’s a genuine user behind the words, they are much more reliable. In some niches, your whole business can depend on your credibility and reputation. For instance, game of chance platforms rely on genuine casino reviews as people want to make sure they can trust the platform before they even sign up.
However, by having a review section on your website, or even a forum, you’ll build a community of loyal customers. It brings in more transparency and gives them a chance to validate each other’s’ opinions and encourage each other.
Consider Different Payment Plans
Some endeavors are almost entirely seasonal. As such, they are at risk of running into cash flow issues during seasons when they’re not in full swing. For example, wedding shops do most of their business during summer. Winter come, the struggle starts.
You can allow the customers to shop earlier and set up a payment plan that enables customers to “pay the tab,” little by little, throughout the months leading to the big season. It will help your business bring in cash during sluggish months and the manageable monthly payments will keep the customers happy.
It’s a win-win situation that will boost your sales. Try to come up with new payment plans that will fit into your business model.
Challenge Your Talent
Don’t assume your hires care about the consumer. Chances are, they don’t. It’s on you to let them know that delivering great customer experience is a priority. Incentivize good customer service and employee behavior.
Do you attend trade shows and conferences? Next time, bring an employee with you and tell them to bring a notebook. Let’s say you bring a sales rep with you.
When they discover a new product that you can introduce to your line, they won’t just study it and examine it thoroughly. They’ll study it with your leading customers in mind – ones that could benefit from the new product. Once you’re back in the shop, the sales rep can make a better pitch to the customers they already have a relationship with.
Establishing a transparent relationship with your existing customers can take you far. Offer them the right perks and assistance, and you can rest assured they’ll keep coming back. Most importantly, strive to provide value to your community of followers. They will continue to reward you with their loyalty.
Anna is a tech writer and researcher interested in startups, web development and business innovation. She is passionate about motivation, self-development and yoga. A recent hiking enthusiast, she enjoys exploring new trails and breathtaking views.