Client loyalty is what keeps businesses afloat. Whether your company is as large as Amazon or as small as a family bakery, loyal customers will keep you going - and growing.
You know the statistics. It’s ten times more expensive to attract new customers than it is to keep the ones that are already doing business with you. Repeat customers spend 67% more than new customers.
While you know that you must create brand loyalty, it’s undoubtedly easier said than done. How does one build a loyal client base in a world where it appears that low prices are the main piece for which customers look?
Are Customers in 2021 Only Concerned with Price?
The short answer is no; customers are never “only” concerned with price. You can see an example of this in your local grocery store. If all customers wanted was the lowest priced product, then generic brands would be the only foodstuffs purchased. That’s certainly not the case.
Here are a few 2021 customer trends to consider:
- Omnichannel delivery. “Omnichannel” is the buzzword of 2021, but truly, it is essential to provide seamless services across devices. Customers expect to be able to connect with you on their phone, laptop, or at your brick-and-mortar office.
- No-contact options. Even with more clients going out to have face-to-face interactions here in America, it’s vital to offer no-contact options like delivery or video calls. Not only are these options something we are all used to at this point - but they are also highly convenient.
- Personalization. There are two ways to look at personalization. One is the personal connection between the brand and the customer. The other is personalizing the actual product to customer needs. Both are important.
- Sustainability. Customers care about sustainable business practices. Share your green processes, donate money to green causes - and be sure to tell everyone that you do so.
The above trends are not specific to your industry. So, once you look over the data, be sure to create a customer survey to get the exact information about what your customers need from your business at this time.
Five Strategies for Building a Loyal Client Base
Your business requires a loyal client base to thrive and survive. That means more than simply updating your logo for better brand recognition. Creating loyal customers means offering excellence in everything you do. That is the best way to get referrals and build stability in your business.
Here are five strategies that you can implement to build customer loyalty into your business model:
1. Form a customer retention plan
You can build a loyal client base in two ways.
The first is naturally, as a consequence of having a great product and excellent customer service. The other is purposefully, after offering a fantastic product and following a customer retention plan.
While natural growth is possible, it is often slower than more consistent growth through a customer retention plan.
This plan can be as simple as charting out what happens to customers once they have purchased your product. Or, it can be more in-depth, structuring how customers interact with your brand and its representatives.
2. Provide more than they expect
Many companies provide excellent free products like ebooks and other loss leaders. However, most of those are enticements to get a customer to buy. Once they have purchased your product, what is there to keep them coming back to you? Why would they refer their friends and families to your business?
This is when you begin to provide more than expected so that customers are blown away by the service you continue to deliver.
3. Give them a consistent experience
Consistency is key to customer retention. If a client receives inconsistent service or a product that only works occasionally, they will not return for more.
The best way to create consistency in your company is to set up processes and procedures for customer interaction. These can cover every interaction from the first moment of outreach through the purchase process. However, they should also cover eventualities like, “customer receives a faulty product” or “there is an outage on our end.”
Ensuring that your employees communicate and demonstrate your company values consistently in every transaction will go a long way to keeping customers returning to your business.
4. Show why you are exceptional
You got into business to provide an exceptional product or service. Show your customers why your business is head and shoulders above the competition. Share how your company is unique when it comes to:
- Quality
- Price
- Product/Service provided
- Company values
- Customer service
- Commitment to principles
- Culture
- Green/Sustainability
- Charitable activities/donations
- Community support/involvement
- Commitment
- Garnering trust and loyalty
Each of these factors is important to customers. Ensure they know why you are the best choice for them, their families, and their friends.
5. Keep improving - and communicate about those improvements
No business is perfect. We all must keep improving through training, innovation, and development. Don’t keep company improvements to yourself! Share them with your customers so that they know what to expect when interacting with your business.
As your company grows, so must your consistency, communication, and quality. If you would like to grow in these areas, be sure to contact Business Success Consulting Group. We will provide a free initial consultation to discover how we can best serve you and your growth needs.
