Successful business owners know the importance of fostering loyalty in their target audience. When customers are loyal, they’ll return to purchase additional products and services. According to Business.com, loyal customers spend 67 percent more than first-time customers. To take advantage of increased sales and lower marketing expenses, though, business owners must gain their customers’ loyalty.
Sell High-Quality Products or Services
Gaining customers’ loyalty begins with selling high-quality products or services. According to a survey of millennial shoppers conducted by Morning Consultant, more than half say quality is the most important factor of brand loyalty. If a product or service doesn’t live up to a customer’s expectations, it’s unlikely that he or she will make buy it again.
Embrace Fear Of Missing Out
Business owners can use fear of missing out to drive customer loyalty. This involves creating deals and promotions that entice customers to take action out of fear that they would otherwise miss out. Amazon regularly does this with Lightning Deals. Consisting of discounted products that are available for a short period of time, typically 24 hours, they encourage customers to take immediate action and make a purchase.
Prioritize Customer Services
Strong, positive customer service encourages customers to make multiple purchases. A report published by Forbes found that more customers quit their relationships with businesses because of poor customer service than any other reason. To gain lifetime customers, business owners must prioritize customer service in their operations.
Customers are more loyal to a business when they can associate with its brand. Using a variety of platforms including website, Facebook, Twitter, email, direct mail, TV commercials, etc., business owners should tell the story behind their brand. By explaining their brand’s origins, values and defining characteristics, business owners can win the loyalty of their target audience.
Offer Valuable Rewards to Loyal Customers
Thousands of U.S. businesses offer rewards to loyal customers. But it takes more than just a generic loyalty rewards program to succeed in today’s competitive market, which is why some businesses now offer more meaningful and valuable rewards. A few companies, for example, offers their own cryptocurrency as a loyalty reward whereas other businesses offer cash as a loyalty reward.
Gaining customers’ loyalty isn’t something that can be accomplished overnight. These tips, however, will set business owners on the right path to achieve lifetime customers.