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Essentials for Building a Loyal Customer Base

Essentials for Building a Loyal Customer Base

Essentials for Building a Loyal Customer Base

It has become much easier for a consumer to make comparisons of their favorite products online and for them to make their purchases as well. With this new ease, customer loyalty has become somewhat of a thing of the past. According to recent surveys, at least 90% of consumers still consider themselves to be loyal to their favorite brands. Consumers base their loyalty to products on their quality. If a customer is repeatedly let down by a company and their quality, then they will not continue to return to that company. Of course, customer service and bargains come into play as well, but quality is at the top of the list.
At least 80% of consumers consider themselves to be loyal after making at least three purchases from a company. Another 37% feel that they should make at least 5 purchases before they decide to become loyal to a company or brand. Those customers develop a firm belief in a product or brand once they become loyal.

Loyalty Goes Both Ways

As mentioned in the survey, customer service was not as high on the list as we would expect. Customer engagement actually ranked high on the list of importance for customers. At least 67% of customers expect to have a fast response time from a company when they provide feedback.

For a business, taking the time to engage with customers in this way takes more effort than providing service or products to them. When a company engages with it’s customers, they feel like they are more than just a number to the business. They enjoy rewards for their loyalty.
As a business, if you expect customers to become loyal, you have to focus on the things that are important to them. There are 3 basic rules to keep in mind:

Develop a Community

When focusing on customer engagement, you are conversing with the people that feel your brand or business is important to them. Typically, people prefer to talk online, via social media or forums with other people that share their same opinions and beliefs. By creating such forums or groups, you are allowing your customers a place to gather and converse where they feel comfortable.

Reward Your Loyal Customers

Providing perks that interest your customers will encourage them to continue to make purchases from you. They will also develop a strong belief in your company and be your best marketing yet when they share those beliefs with family and friends. Typically, consumers who are a part of loyal rewards programs, spend more than those who are not.

Make Your Communication Personal

Everyone wants to feel special, especially when it comes to consumers. When you personalize your communication with your customers, they will feel that you are really reaching out to them personally and be more likely to shop with you. No one wants to feel like just another number. Earn the respect of your customers by giving them respect.

While engaging with your customer base can be a bit time consuming, it is certainly well worth it. A little bit of time and effort on your part as a business will land you with a loyal customer base that believes in your products or services. They will share that with everyone who will listen, as well as becoming a great marketing aspect for your company. In this type of situation, a little bit of effort really does go a long ways. You will find that as a business owner, your loyal customers will be the ones to increase your sales for your business and a long standing relationship will be built.

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