Consumer loyalty seems quite elusive nowadays. The reason for this is that the modern consumer shops around much more than before. For example, a study conducted by Daymon Worldwide found out that only 29% of millennials stick with purchasing from the same brand, compared to 35% of Gen Xers (2018). This is showing that customer loyalty is actually decreasing among younger consumers.
On the other hand, however, 57% of small business owners state that having higher customer loyalty drives sales (according to a study conducted by Braun research). Therefore, all companies should put more effort into improving their customer loyalty if they want to increase their business and retain their customers. Read below to find out the 3 best ways to improve your customer loyalty:
1. Ask for feedback
Asking for feedback is a great way to start increasing your customer loyalty. By sending customer surveys you indicate that you value your customers’ opinion and you care about what they think about you and your company. Therefore, constantly ask your customers for feedback by sending them regular customer surveys.
In addition, ask them about their experience after any customer touchpoint, for example after contacting support, returning a product, buying from your website, etc. Finally, ask them to leave you reviews on social media, so that you can increase your brand awareness amongst their friends and family.
Most importantly, however, is don’t just to ask for asking’s sake. Instead, actively listen to your customers’ feedback and change and improve based on it. Once you do, inform your customers that you have put their advice into practice and watch them come back again and again.
2. Create a community
Customer satisfaction is a rating. Loyalty is a brand.
Every customer who buys a product or a service from your company is part of your community. Make them feel part of it by organizing events where you celebrate your customers and you show them that they are valued. In addition, encourage your customers to follow you on social media. In this way, they can interact with other customers and share their experiences. Thus, you can build a community around your brand and increase your loyalty and retention rates.
3. Take advantage of technology
Taking advantage of technology can improve your customer loyalty tremendously. Therefore, get a customer feedback tool so that you can track your customers’ satisfaction rates over time. You can also use it to create reports and see which product performs the best. Moreover, you can send personalized customer surveys where you ask for specific feedback in order to better understand your customer’s needs and wants. The better you know your customer, the better services you can order, which in turn will directly lead to more customer loyalty.
In conclusion, by following these 3 tips you can greatly improve your customer loyalty rates. If you want to find out more about how to increase your sales with the help of customer feedback, click here.