We are in a competitive environment where businesses are always striving to gain new customers. What is overlooked is that the most effective and cheapest growth strategy is protecting existing customers!
Although existing customers are thrown into the background in the race to gain new customers, the number of those who argue that they are much more valuable than new customers is negligible! Addressing loyal customers who make a lot more profit than new customers who prefer companies once, and who also shop more by number, can help companies make a difference.
Considering the fact that the cost of acquiring new customers is higher than maintaining existing customers; It would be logical choices for companies that want to stand out from their competitors to spend more time on customer loyalty. Firms with loyal customers can manage their marketing costs more easily, get to know their customers better and increase their service quality by evaluating the feedback they receive from them. Although it is not easy to gain customer loyalty, there are 4 important strategies to accelerate this process.
1. Improving the Customer Experience
The most effective method to increase customer loyalty is to improve the customer experience. The results of a study conducted by the White House Consumer Affairs Office also highlighted the importance of improving the customer experience. As a result of the research, it was found that 80% of the customers who gave their opinions agreed to pay more money if they saw a good customer experience. By satisfying your customers and making them feel special, you can reduce their chances of choosing different companies. You can always make them prefer you with a sincere approach. Thus, you can increase both your brand's awareness and your sales.
2. Give Morale to Employees
Employees are representatives of companies, they act as a bridge between customers and companies. Therefore, the more satisfied and happy employees are, their attitudes will directly reflect on the customers. The more committed employees are to their jobs, the better their approach to customers will be.
Check out: Tell Me About Your Cashier and Let Me Describe Your Brand
The power of satisfied employees who can communicate with customers should not be overlooked. Companies that find different ways to boost employee morale can also increase their customer satisfaction rates.
3. Sharing Customer Success Stories
Sharing your customers' success stories is like shooting two birds with one stone. If you are selling directly to end users, this strategy may not work for much. However, if you work directly with companies, this strategy will be enough to satisfy you in terms of gaining customer loyalty and acquiring new customers. You can share the success of customers working with you on social media, on your website or on any platform where you exist. You will make the companies you share their success feel special and increase the chances of companies that want to advertise you.
4. Conducting a Loyalty Program
Rewarding your existing customers for constantly choosing you is an effective customer loyalty strategy that can be easily implemented. The goal of loyalty programs is to reward customers who frequently shop from you. With this strategy, you elegantly show your thanks to them. If you know your target audience, you can determine the award that appeals to them the most. You set up a system where they can earn points per shopping they make, distribute discount coupons or apply special discount rates. The choice is yours, you can find the right method by considering the industry of your company and the expectations of your target audience.
Check out: What Is Brand Loyalty?
All companies should attach importance to customer loyalty. Companies; They can keep their customers happy by increasing the customers' experience, keeping the motivation of the employees high, organizing special loyalty programs for them and caressing their pride. Before they start looking for new customers, they can manage to increase their earnings by establishing a bond with existing customers.