Customer loyalty is the outcome of a company’s consistent efforts to meet and exceed customer expectations. Loyal customers are the key source of your revenue, which is why focusing on repeat business is a necessity. But, how?
The most common perception among businesses globally is that if their product or service is great, then customer retention will follow naturally. And, while this might be the reality in some instances, the harsh truth is that sooner or later, your customers tend to leave you!
So here are four ways you can increase customer loyalty:
1. Reward your customers
Customers want to feel appreciated. After all, they have chosen you and not your competitors. A properly designed and managed loyalty campaign will do wonders for your business. Customer Loyalty Cards have been quite effective in creating a loyal customer base. However, modern customers are bored of carrying too many cards from different stores and brands. Many brands have already been strategizing around converting users from cards to digital platforms like loyalty apps. moLotus platform has gone ahead revolutionizing the digital loyalty cards space with its mCard. Top International Brands have replaced the plastic cards with mCards which gets directly to the receivers’ mobile phone - increasing loyalty.
2. Collect Actionable Customer Feedback
Listen to your customers by seeking actionable feedback from them. Collect and store all the feedback data you receive and share it across all departments. To get an appropriate product/service rating from your customers start using marketing automation platforms like TrustRadius, moLotus, etc. Sending out customer feedback surveys like NPS and CSAT could be a good option.
3. Create Customer Delight
Delighting your customers is a must for customer retention. Research shows that customers react positively to surprises like thank you notes, birthday coupons etc.
Greet your customers on special occasions and events. For instance, customized birthday greetings will keep them engaged, enhancing loyalty. Since ages, traditional channels like cold calls, SMS and printed mailers have been used for this purpose. However, top brands are fast evolving and extensively relying upon new-age platforms like moLotus for sending personalized and rich multimedia messages for special occasions.
4. Educate Your customers
Companies often use various marketing ploys to lure their customers. However, research has shown that educating customers strengthens their trust in a brand. When customers understand a product, its capabilities & limitations, it gives them realistic expectations on what they can achieve with the product. This deep understanding of a brand’s product or service is very important for building customer loyalty. Brands are educating their customers about new services or features, when they need it and how they can be benefitted. They are doing so by creating highly interactive campaigns with multiple response options like SMS, Callback, Click using an innovative platform like moLotus. In-app and email campaigns are also massively being used for the purpose however with less or no interaction.
In a nutshell
Building a loyal customer base is quite achievable if you follow the above. You are safe from spending millions of marketing dollars towards constantly acquiring new customers. Marketing automation tools like moLotus comes in handy for you because it can help you save time and keep customers loyal to your brand. Remember, it is the little things that matter.