To do this, you first need to understand the relationship between customer retention and customer loyalty. While customer retention is a measure of customers who repeat business with you often but don't necessarily have a strong affinity for your brand and could switch to another, customer loyalty is the next step as customers move from repeat business to advocacy. Your customer retention rates may look very attractive, but that doesn't necessarily mean that those customers are loyal.
Cerdá knows the importance of customer loyalty, that’s why we want to explain to you how to strengthen customer loyalty and retain existing customers.
Be Real and Honest
We always expect honesty from our loved ones, and customers expect it from companies as well. According to a survey in 2017, about 86 percent of people believe that authenticity is significant while deciding which brands they support and to go with. This means giving customers the information they need, accurately describing your product, and acknowledging mistakes, even if they are large or inconvenient.
Stand out from the competition
Learn to stand out from the competition if you don't want to get lost in the haze. Make sure your business value proposition is short, sweet, and unique. As long as you can effectively communicate it, you're fine. However, keep in mind that you need to show how your brand must stand out from others who may have offered the same services. It's not just what you do, but how you do it and who benefits from it. Supplier reputation and product reviews are two of the most important aspects in influencing customers' buying decisions, so your brand needs to be different from others. Conduct detailed research on your closest competitors and learn more about their strengths and weaknesses. Use this information to shape your message and brand image.
Remember, loyalty breeds loyalty
Customers will be loyal to your brand as long as you can benefit them. You also need to show them your loyalty. Take the time to retain existing customers and don't make the mistake of chasing them throughout the sales cycle. Instead, focus on maintaining engagement even after the initial transaction. Ask for feedback on customer experiences. Send them tips to help them in their business, or provide a selection of resources to help them make the best use of your product. You can even try sending them surprise gifts - everyone loves surprise gifts and your initiative can go viral on social media (if you target the right customers). If possible, mark each customer's anniversary or birthday. Above all, learn to add value to your customers by continually impressing and surprising them to create customer loyalty.
Respect Your customer time
According to the 2020 Customer Experience Trends Report, over 60 percent of customers said responsiveness was an important aspect of good customer service. Make sure you have quick response tools in the channels your customers prefer. For example, being able to reply on Instagram can set you apart from the competition.
Reward Customer Loyalty
Rewards are the easiest way to build customer loyalty. Remember, everyone loves surprises, deals and gifts. But gone are the days when a simple coupon marketing campaign was enough to convince buyers to make impulse purchases. It now comes down to giving away gifts, offering free tools, exciting deals, creating a loyalty program, or giving you access to the season's top events so you can show your gratitude to customers who are bringing you valuable business. Loyalty programs are good for long-term customer retention, so don't think of them as a quick fix for a sales boost. Plan for multiple levels and rewards that will grow over time, but make sure you have the resources to support this investment.
Get customers involved your business
You can increase engagement by giving buyers a fair share of ownership of your products. Invite some people to try out the products you create or try a service that you have to offer. This helps on two levels: they are usually happy to try something new, and you get feedback on how the product can be improved without the cost of a full deployment. Plus, collecting feedback after they've tested what you have is a natural way to communicate more with customers first-hand.
Avoid spamming your customers
Many brands flood their customers' inboxes with advertisements, offers and alerts. While their ultimate goal of creating multiple points of contact is commendable, the way they do it is problematic to say the least. After all, who wants to receive direct emails every day, or multiple times a day? In truth, this approach can overwhelm the user and ultimately force them to delete and unsubscribe from your mailing list. Customers will only be loyal to brands that, in addition to offering good value and products, respect users' time by only reaching out to them with timely and personalized offers or educational content.
At Cerdá Group, we have implemented all of these incredible tips to ensure our business grows and is attractive to our clients. Our Loyalty program strategy is vital to your business and will help you to build a strong client relationship management. Don't miss the opportunity to build strong relationships with your loyal customers!