Loyal customers are the backbone of most businesses. It helps distinguish your business or brand from everyone else’s and give you an edge. Customer loyalty is an important aspect of any business, loyal customers tend to become repeat buyers and are likely to keep purchasing products from brands they know and trust. To them, the price tag is secondary to affecting their purchase decision and these repeat buyers are the most valuable to any business.
According to Hubspot, it will cost you five times more to acquire new customers than it does to retain current customers. That’s a big number and in the long run, will likely affect your business sales and profit. When customers feel valued, the chances of them staying loyal to your business increases. They also are more likely to advocate for your product by word of mouth to their friends and family and can help your business grow. Take for example the beauty industry, where one influencer’s unpaid and honest review can boost sales dramatically like in the case of the “Unicorn Tears” beauty serum and more.
Hubspot also found that existing customers are 50% more likely to try a new product as well as spend 31% more than new customers. These numbers are all the more reason your business should start considering a loyalty program and if you already have one, how can you make your customers feel more valued? Here are some of the things you can do:
No one can deny this, it feels nice to be thanked and appreciated. Start by thanking your customers for their support in your business and be genuine when doing so. You can do this through your email marketing by thanking them once they’ve placed an order, by including a personalised “thank you” card to accompany their product and more. If you know their date of birth, send them a special code as a gift on their birthdays or a specialised email wishing them! Doing so can instil a sense of connection with your brand. When you let your customers know you’re always thinking about them, it will help your customers feel more valued.
Listen to Feedback
When you ask your customers for feedback or when they share it with you, let them know you’re seriously listening and considering everything that comes in. People like it when their opinions are being heard and valued, and customer feedback is an essential part of any business. Make changes or improvements to your service factoring in this feedback. You’ll find that when you take into account your customer’s voices, it makes your approach look more sincere and lets them know that their opinions are always being accounted for.
Engaging with Your Audience on Social Media
In this day and age, customers expect quick customer service even on social media. Every interaction a customer has with your service can make or break their faith in your business. Even the numbers back this up as 76% of consumers believe a company’s customer service is a reflection of how much they value customers, according to a survey.
Use social media as a platform for you to engage and listen to your customers. People enjoy posting on social media for validation and this isn’t a bad thing when it comes to speaking about the products they love. We advocate for things we believe in and loyal customers do the same with a product or service they trust. Engage with your most active advocates online and build a friendly relationship with them. Showing your appreciation publicly for your customers helps make them feel they’re valued and special. Ask them to tag you in their posts and if possible feature them on your page too!
Take the beloved makeup brand Colourpop as an example, hosting regular giveaways and often featuring their customers’ makeup looks they’ve built a die-hard loyal fanbase. Their approach shows that a big brand can still forge a genuine connection with their audience. This method can also generate user content for your page and makes it easier for your customers to engage with your business.
Customer loyalty is something your business needs to start paying more attention to. Strengthening your base of loyal customers can help your business grow and increase sales. Remember, the customer is king, and treating them like royalty can go a long way in the future.
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- Livestreaming services
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- Media Buy
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