To develop and compensate for its customer base, every company must find the right balance between prospecting and retention. As Sam Walton said: “There is only one boss: the customer! And he can fire anyone in the company, from the CEO to the rank-and-file, simply by taking his money elsewhere.” If you still don’t know why you should build customer loyalty or how to do it, then read this article!
Reasons To Build Customer Loyalty
Most companies think that acquiring a customer is enough for him to come back eventually. Indeed, they often turn to commercial prospecting without worrying that their customers can disappear at any time. According to INSEE figures, one out of two companies does not exist after 5 years because they only think about chasing customers to increase their turnover rather than adopting an efficient and long-term strategy.
As companies understand the importance of managing their brand awareness and profit, their main concern will become customer retention. With the fierce competition in every industry, every company is trying to figure out how to retain their customers. Thus, the commercial strategy must always be based on these 2 points: customer relationship management and customer loyalty.
4 Essential Points To Set up a Loyalty Strategy
Customer loyalty is not limited to the implementation of loyalty cards. It is necessary to go further and find good techniques and strategies pushed back, especially in these 4 elements:
To strengthen the attachment of consumers to a brand, it is advisable to :
– highlight its values with a narrative hook or “storytelling”;
– Respond to customer opinions and comments, especially on social networks;
– create “brand content”.
To maximize customer satisfaction (related to the use of the product), it is essential to:
– take care of the quality of the product;
– Surprise the customer with bonuses that they were not expecting;
– personalize their purchase thanks to the packaging.
For customers to benefit from your services, you must:
– set up a quality customer service;
– adapt your services to the market’s evolutions to guarantee an offer that meets everyone’s expectations;
– have a sales force to inform and advise them.
Marketing and Sales:
To maintain the commitment of its customers, here are 3 points not to be neglected concerning the marketing and the commercial:
– The implementation of loyalty tools such as sponsorship or loyalty programs.
– The customer file’s control to get information on each consumer’s habits and buying behavior. This allows us to propose relevant offers that meet their expectations.
– The implementation of satisfaction surveys such as CSAT or NPS to determine the negative points to correct and the positive points to consolidate.
The way companies communicate has completely changed. It is now possible to create a relationship of trust with customers through the Internet. This is why web agencies are in full expansion.
To improve your relationship with your customers, think about creating your own professional website.