How to build customer loyalty

Every successful business will have its own unique selling
points – helping them stand out from the rest. They don’t have to offer the
latest gadget or have famous brand ambassadors on board. It can be as simple as having great customer service or ethical values.

It’s these aspects that help establish ways to build
customer loyalty. The more you invest in creating a dedicated clientele, the
faster leads to business longevity and success.

Let’s take a look at what customer loyalty actually means.
And how employers can build solid relations with new and existing consumers.

What is customer loyalty?

Customer loyalty is all about creating an ongoing relationship between a consumer and a company.

All employers should aim to grow a committed and engaged
clientele for their business. It’s not enough relying on who walks through your
shop-doors or visits your website everyday. Employers need them to come back –
again and again and again.

These loyal shoppers are the ones who help drive sales,
promote products, and encourage business growth. That’s why it’s vital not to underestimate the importance of building customer loyalty.

But, you can’t just manifest this from wishful thinking.
Employers need to hold this as a core company value and live up to it. From
here, you’ll be able to build up customer loyalty that leads to long-term
retention and allegiance.

The Importance of customer loyalty and how it leads to repeat business

Customer loyalty leads to repeat business in a number of ways:

• Loyal customers are more likely to make repeat
  purchases. This is because they have had a positive experience with
  the company in the past and trust them to provide quality products or
  services.
• Loyal customers spend more money per
  purchase. This is because they are willing to pay a premium for a
  brand they trust and enjoy.
• Loyal customers are more likely to refer new customers
  to the company. This is because they want to share their positive
  experiences with others.

How to build customer loyalty for your business

Each business holds something unique that makes them stand
out in a crowded marketplace. Whether it’s providing great customer service or
offering enticing reward schemes – employers need to hone in on these.

From here, you’ll be able to manifest trust and respect from
both existing and new consumers. Let’s take a look at how you can build
customer loyalty for your business:

1.    Know your customers

The first step involves getting to know your customers (and
them knowing you). This includes more than just having their name and email
address on hand. It’s about familiarising yourself with their consumer
interests and habits – creating a memorable buying journey.

There are countless examples for building customer loyalty
this way. For instance, you could create a campaign to offer Eid gift-cards.
This would be ideal for those celebrating the Islamic festival. Also, Eid is
celebrated twice a year – allowing you to replicate the campaign again with
ease.

Employers could specifically offer this to customers who
they believe will be interested in buying Eid gift-cards. This type of
personal, tailor-made customer experience is what drives retention rates for
your brand.

As mentioned, acquaintance is a two-way street. Employers
should be open when it comes to matters that affect your consumers. For
example, if you need to recall a product for health and safety reasons.
Customers will respect being kept updated on such developments.

2.    Introduce a customer loyalty program

The next step is introducing a customer loyalty program.
Marketing strategies like these help identify valuable customers who have a
long-term or extensive interaction record with your brand.

There are countless customer loyalty programs to choose
from. Such as, credit card programs, gift cards, stamp cards, and points apps.
Choosing the right one depends on your business needs. Remember, most programs follow the same format – spend more to gain more.

For example, if customers buy 10 cups of coffee, you could
offer them an 11th cup for free. This encourages customers to solely buy from
you in the hopes to attain a freebie. A loyalty program like this directly
stops them from going to a rival business.

However, employers need to ensure they’re offering a decent
incentive that measures up to the level of customer interaction. If a customer
is regularly spending £100s a month, they won’t be satisfied with being given
one free sample-size gift.

3.    Create a referral scheme

The next step employers should consider is creating a
referral scheme. It’s similar to loyalty programs in that customers are
rewarded for interacting with your brand. However, it usually involves them
bringing in a new customer through their recommendation.

Customers will convince a friend or family member to
interact with a business they’ve visited before. The existing customer is then
rewarded for bringing in new people through the referral scheme.

It’s a great marketing tool, as new customers are far more
likely to be convinced by their acquaintance than a salesperson they’ve never
met before. Employers then benefit from strengthening their relations with
existing customers, whilst managing their new ones.

However, like loyalty programs, referral schemes need to
provide the right incentives for loyal customers. For example, you could offer
customers 20% of their next purchase for every referral they bring.

4.    Utilise your business strengths

Business marketplaces are crowded and you’ve probably got a
few competitors listed in your head. Despite that, a business is only
successful if it has unique selling points.

Employers need to play to these strengths – showing
customers why their brand is more trustworthy and investible over others. It’s
these concepts that help attract and retain customers – transitioning into
loyalty for your brand.

You may already have a steady influx of new customers. Here,
it’s not wise to completely change up your onboarding processes. If you want to
trial new strategies to build customer loyalty, do it in small steps – just to
test the waters.

Employers should also be careful not to stray too far from
their brand originality. Too vast a change may render the business as
unrecognisable – deterring both new and existing customers.

5.    Don’t underestimate the power of social media

creating social media platforms for your business. A regular thread of posts
and short-vids presents a direct insight into your brand, values, and services.

Social media platforms are essentially a great tool to
present free, authentic advertisement. Having a digital stamp or presence is
now the norm; and without one, your business may be seen as old-fashioned or
irrelevant.

But socials aren’t just used for posting pictures or funny
memes. Each has a unique aspect that can help build an active online business
profile. From here, you’ll be able to invest and build customer relationships
and loyalty from a virtual clientele.

Another great aspect it provides is instant interaction.
Gone are the days of email newsletters or paper pamphlets. A direct message or ‘poke’ can help consumers faster than
any customer service team. Just be sure to use social media platforms that best
suit your brand and values.

Get more guidance on building customer loyalty
with highstreetvouchers.com

Rewarding customers who stick to your brand is a fool-proof
way to build a loyal customer-base. What better way to do this than by giving
gift cards and vouchers!

At highstreetvouchers.com, we offer a variety of rewards guaranteed to help utilise your customer loyalty programs and referral schemes.

Whether you’re rewarding long-term customers or those with
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for you.