6 Strategies to Build Customer Loyalty
The cost of a good or bad customer experience and the eventual ROI associated with it is of the utmost importance, speaking volumes to your brand’s integrity, its reputation, and its future. Building customer loyalty is by far the most meaningful and rewarding of pursuits. The financial benefits and ramifications have been analyzed time and time again, and here’s what we know for sure.
- Millennials will spend 21% more for a brand that provides amazing customer service
- 7 out of 10 customers claim to spend more money with a business that goes above and beyond when it comes to customer service
- It’s 5 to 25 times more pricey to snag a new customer versus keeping the one you already have
The proof is in the pudding when it comes to the advantages of curating solid experiences, but how do you meet and then exceed the expectations of your customers (not to mention how your brand’s stacks up to the experiences its competitors are creating). The relationships you work to build with your customers directly impact their loyalty to your business. Are you investing in your front line?
6 ways to build lasting customer loyalty:
1. Keep all of your communications in one place
It’s paramount that your service representatives have the necessary tools and resources to craft true, lasting loyalty in your customers, but you’d be wrong to believe that the customer experience begins with your service teams. Instead, the experience begins when a potential customer lands on your website. Perhaps they have an inquiry about a product – how quickly can they get an answer from your team? How quickly did they receive the product after they ordered?
Your customers may choose to interact with your brand in a variety of ways — live chat, email, social media, phone. Keeping all of your communications in one place with an omnichannel platform is the most efficient and effective way to ensure you never miss a single interaction.
2. Deliver on quality
Always, always, always prioritize quality. What’s the over-under on losing customers because of a poor-quality product? It’s nearly guaranteed. The fast-track to building customer loyalty is actually delivering on the quality you claim to supply. A customer expects to receive what they are paying for, and they want the product to run the course. Furthermore, if you’re running a subscription-based business model, quality control is even more important.
3. Build out strong scripts for your agents
Despite the quality of your products being top-notch, there will always be a reason for your customers to call upon your service agents. Building out strong scripts for your agents empower them to take matters into their own hands without having to unnecessarily escalate issues.
Additionally, if you are using overflow support like the on-demand INFOCU5 Connect marketplace, you’ll want to have well-crafted scripts for outside agents to hop right in and begin serving your customers with the same gusto as your internal agents.
4. Create a loyalty program
Who doesn’t appreciate a loyalty program? Most customers are familiar with loyalty programs — you know, the ones where you purchase 10 sandwiches to receive one free. Consider creating a loyalty program that makes sense for your customer base. Your tried and true customers deserve a little something something to keep them engaged, loyal, and coming back for more. Extending special discounts and offers to your repeat customers bolsters loyalty.
5. Get feedback
There may be nothing more humbling than soliciting feedback from your customers, considering you are asking the right questions. Generic questions may not be enough for you to understand where the real work needs to be done. Sending regular surveys is a great way to find out what people really think about your brand and your products. Perhaps the worst thing you could do when it comes to customer feedback is ignore it.
Many of your customers likely call in for support, so if you have the capability to listen to calls between your customers and your support staff, you’ll likely find some good and valuable nuggets to chew on there too.
6. Use the feedback to implement change and improve
What do you do with the information you receive from your customers is entirely up to you; however, you’d be amiss to ignore it. Turning a blind eye to unflattering feedback would be to the detriment and a disservice to your brand. Instead, use it to implement changes that improve your customer experience, which inevitably leads to deeper brand loyalty from your customers.