While conversion still remains a key objective of any digital strategy, customer retention shouldn’t be overlooked—especially when you know the cost of retaining a customer is less than acquiring a new one.
Plus, your company’s existing customers spend an average of 31% more than your new customers, according to an infographic from lead generation company Fieldboom. Even better: retaining 5% of your customers makes it possible to increase your profits by 25 to 90%.
Faced with some of the benefits it represents, it is essential to equip yourself with a loyalty strategy. However, how do you keep your customers when the competition is fierce? Find out all of our advice to guarantee your buyer’s loyalty.
factors of loyalty
Consumers are supposed to be fickle. They can switch from one brand or company to another very quickly. Still, there are certain factors that promote customer loyalty.
86% of consumers believe that loyalty is possible only when a form of friendship exists between the brand and the consumers.
The Twitter social network is supposed to be a reference that consumers can rely on. 30% of potential customers confirm they can recommend a company that answers their questions on Twitter. This figure rises to 44% when it comes to sharing their customer experience (online or offline).
The social network also contributes to an increase in sales because it encourages consumers to buy more from a brand if the latter interacts with them.
To make your customers happy, bet on these social platforms! They will be happy to discuss with you before, during and after the purchase to take advantage of your advice. Then they will be more inclined to talk about you to the people around them and buy from you again.
Personalized emails also influence customer behavior by promoting loyalty, with offers tailored to the needs of your consumers.
read also 10 Steps to Win Consistent Sales
Plural Profile of Loyal Customers
Unlike men, women are more loyal to a product or service, regardless of its quality, price or benefits.
Facebook users, on the other hand, associate themselves with a brand more easily. The more they engage with social networks, the more inclined they are to be loyal to a brand (+125%). The same is true for Instagram.
Millennials, the followers of social media, represent the most loyal customers of all age groups.
read also : “customer intimacy”: much more than a relationship of trust with the customer
barriers to loyalty
Consumer behavior has changed in recent years. With the advent of the Internet, they are becoming more and more demanding and impatient. So the quality of customer service should be immutable.
In fact, if customer service doesn’t live up to their expectations (nonexistent or predictable answers to their questions, very long response times, etc.). This results in a 71% customer loss for businesses.
Consumers also pay close attention to how a company treats its employees. 32% of them are willing to speak negatively about the brand if it treats its employees badly.
levers of customer loyalty
There are many ways to retain your customers. Who are here!
1. Your Company Value
One of the first questions to ask yourself when setting up your loyalty strategy is: “What are the values of my company that I want to communicate to my customers?”.
You should try to establish what are the aspects of your brand that will earn the loyalty of your customers and which will differentiate your brand from others.
2. Customer Satisfaction
Contrary to popular belief, retention costs 5 times less than customer acquisition. Why ? Because it is very easy to sell a new product to a consumer who has already made a purchase in your store or subscribed to one of your services.
However, even though it is easy to go back to a known service provider, it should be tailored to the customer’s needs: a study by Blackhawk Networks shows that 94% of consumers are loyal to a company that meets their needs. fulfills it completely.
So customer satisfaction is a crucial issue in generating loyalty – even some indicators like Net Promoter Score can help you measure it.
3. Exemplary Customer Service
Again, it is essential that your customer service is irreplaceable. We saw it above, if your customer service is lacking then half of your customers will go elsewhere.
Customer service should be a priority in your strategy.
4. A Loyalty Program
Encouraging your customers’ loyalty usually involves setting up a loyalty program to encourage them to renew their purchases.
Remember also to encourage your customers who are already convinced to become spokespersons for your brand, you should find out who these customers are and make them the right ambassadors for your brand.
Then you can go on looking for customer feedback. This will allow you to assess the effectiveness of your efforts, continually improve your customer service, and give your customers a voice. Always moving in this direction, you should be able to build a deeper connection with your customer base than just customer service: you have to be there for them.
For example, more and more brands are creating Facebook groups where they can connect with their most active fans. We think in particular of Starbucks, which has created a Facebook group for fans of its famous Pumpkin Spice Latte.
5. Special Offers
Your loyal customers should feel valued. Offer exclusive deductions, benefit them from exceptional offers, invite them to events organized by your company. In a word, pamper them! 62% of them are fond of these little touches that allow them to save money on their purchases.
6. Build loyalty with cross-selling and up-selling offers
Cross-selling encourages customers to order products linked to their previous purchases. For up-selling, this means going upmarket and selling a product that is already more expensive and “better”.
In both cases, the key to success is customizing your offering as per the expectations of the customers.
Discover our selection of 12 tools to boost your cross selling and up selling.
7. Private Sales
What is Private Selling Privileged Status! By establishing a close relationship with your customers, they feel that you care about them.
Give your customers privileged access to your new products or exceptional discounts. This method essentially improves their sense of satisfaction with your company. They will check your newsletters regularly, looking for good deals.
Read also: 4 Ways to Build Customer Loyalty Through Membership
8. Constant Innovation
The study conducted by Blackhawk Network tells us that 76% of consumers are loyal to a brand if it knows how to renew itself: Always on the lookout for the latest trendy items, helping your customers turn to your competitors Won’t hesitate if you don’t. T go with the flow.
To retain your consumers, don’t rest on your laurels! Learn how to improve your services and discover new products they won’t find anywhere else.
9. Multi-channel communication
In the digital age, customer relationships are no longer limited to the telephone. Communication is multi-channel: online after-sales service, website, social network, chatbot, etc.
These channels allow consumers to interact with brands in real time as per their requirements and according to the time of day. They can then get additional information about a product, guide their purchase, or find a solution to a problem.
56% of consumers will be more loyal if you take the time to talk to them through social media and update your profile.
Wherever your customers are, stay constantly connected with them, stay on top of their minds.
10. Gamification
Bring some play to your marketing! Gamification lets you reward your customers for each purchase level they pass or membership duration increases. The older the customer, the more he will interact with your brand and the more he will be rewarded!
Promo offers, vouchers, gifts, membership discounts… Rewards can be many and varied.
conclusion
As you can see, loyal customers buy more regularly, and these customers cost less to sell. A satisfied customer is valuable because they will come back to you, but also because they will recommend you to their loved ones through the magic of word-of-mouth.
Pampering the loyalty of your customers has now become imperative to the sustainability of your business. The time, effort and money you put into retaining your customers will pay off.
Social networks, blogs, mobile applications, newsletters… these are not the channels you are missing to communicate with your customers and keep them close to you!
If you need help building customer loyalty, the many freelancers at Codeur.com can help!
Learn how to create a loyalty program on WooCommerce by following our tutorial.