How to Earn Customer Loyalty: 5 Hidden Secrets
Before talking about ways to earn customer loyalty. One needs to understand what exactly the meaning of the term is. Is it having permanent customers? Is it about retaining customers? Or Is it about having a large customer base? Well it is about all of these facts and much more.
Customer loyalty is a way of measuring the chances of a customer continuing doing its business with your company repetitively irrespective of the other options available in the market. It is a way of feedback showing their satisfaction and good experience from the product and services offered by the business.
Customer loyalty is a lot more than just satisfaction from receiving the services, it is their journey from picking your product to trusting you and staying with you. Customers put their trust in your product/ services by trusting you with their money because you are offering them value for their money.
Now there are a lot of ancient and latest ideas to earn customer loyalty. With the regular development in technology, a new trend of customer loyalty platform solutions is swarming the market. These platforms not only offer strategic solutions for maintaining and earning customer loyalty but also keep the track of all the customers and their necessary details.
The perfect quote to understand why you need customer loyalty
“There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.” — Sam Walton
Now without wasting time lets understand the secret yet effective ways to earn customer loyalty. Always remember every minute detail in business is important to consider and work on.
- Customer service
Always be ready to apply more and more measures to enhance your customer service which will eventually lead to a satisfied and happy customer. Customer loyalty is not earned in a single day, it’s a continuous process.
If needed, make sure to use techs like Customer Loyalty Platforms to manage all the data and be efficient. In this cutthroat competitive environment having an edge is important. Having loyal customers can offer you the biggest edge you need.
- CSR – Corporate social responsibility
Being caring towards the society and environment is a humane thing to do. However, it does help in building a strong bond with customers across the globe. You will be surprised to know that, “84% of online consumers say a poor environmental track record would or might cause them to stop buying from a brand.” As per the latest data statistics,
“The number of consumers who would pay more for eco-friendly products has risen from 49% in 2011 to 57% in 2019.” The facts are enough to prove the point that being a good eco-friendly company can help in earning brownie points from customers.
It has been seen and noted that most of the companies invest their time and money in acquiring new customers instead of retaining the current ones. This act is a big mistake on company’s part. Acquiring new customers is a good strategy but ignoring the current ones is not.
As per the research, “44% of companies still pay attention to customer acquisition, while only 18% implement strategies aimed at boosting retention.” Make your current customers your first priority as they will offer a far better conversion rate than anyone else. It will also help you in earning their loyalty.
- Communicate but not too much
Don’t get in the mythical side of the market where rumors and myths fly around like eagles on dead meat. Share information with your customers from time to time, keep them updated with offers and schemes, but that should be the end of it.
Customers do not wish to see their phones filled with promotional emails and texts. Appreciate them, wish them on special days and share information but in limitations. The Customer Loyalty Platform Solutions can help you in keeping track of your engagement.
- Customer Feedback
Never ever ignore customer feedback. Most of the customers do not offer feedback for two reasons, firstly they believe no one is paying attention and secondly, they simply don’t care about feedback. Out of all the customers the small percentage who still share their views are the ones who are either loyal to you or can become one.
Pay attention to what your customers are saying and act on it. It will not only help you in getting customer loyalty but will also help in improving your products and services. In nutshell, always remember that your loyal customers are always there for you, so you need to do the same.
Understand their needs, make them your priority, always work on enhancing customer experience, take feedback seriously, etc. Pay importance to them and you will be rewarded with customers who will not only stay by your side but will also bring more to the group.
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