As a statistic often heard (and regularly repeated) in the marketing world points out, it can cost five times as much — and by some estimates 25 times as much — to attract a new customer as it does to retain an existing one. So it goes without saying that keeping customers highly satisfied and coming back is one of the best ways to boost a brand’s bottom line.
But what specific steps can your brand take to foster more loyalty among its customers? Consider these five tips from The Brandon Agency on tried-and-true ways to boost your customer retention and loyalty:
1. Prioritize customer service
It may seem abundantly obvious, but as many let-down consumers can attest, plenty of companies regularly neglect this simple fact of business — strong customer service is critical to satisfying customers and keeping them coming back. In fact, according to a HubSpot survey, 93% of consumers are more likely to return to a business whose customer service shines.
Be sure to carefully evaluate all consumer touchpoints with your brand to ensure that your customers’ needs are being met and that reliable, courteous customer service is being provided. Going the extra mile to keep your customers satisfied is the best way to demonstrate that you care about them and appreciate their business. This also extends to social media, where it’s important to respond to customers’ questions quickly and rapidly respond to any issues they may relay via your brand’s social channels.
2. Reward regular customers with giveaways and discounts
There’s good reason that a vast majority of big businesses offer loyalty programs … and it’s that they are highly effective at creating customer loyalty — and eventually even creating brand ambassadors. In fact, according to research, 73% of consumers say they are more likely to recommend brands that offer a strong loyalty program.
Loyalty programs offer a great way to reward regular customers and provide them with added incentive to come back. When considering the implementation of a loyalty program for your brand, the options available are wide-ranging. Points programs, cash-back programs, punch-card programs and tiered programs are just a few of the loyalty-program variants — choose the option that offers the best fit for your brand, and start providing your best customers with giveaways, discounts and other perks that reward their repeat purchases.
3. Engage customers often
It seems intuitive that consumers would be more likely to exhibit loyalty to brands they feel a strong connection with. And research bears this out, showing that 53% of consumers who follow brands on social media channels are indeed more loyal to those brands. Endeavor to regularly post content on your brand’s social media channels, and be sure to keep it genuine and true to your brand’s persona, letting your followers know what your brand is about and what you’ve got going on. By frequently speaking to and engaging with your customers on its social media channels, your brand can establish an ongoing connection with its most faithful followers — and, over time, move them down the path to becoming an active brand ambassador.
4. Seek customer feedback … and heed it
There are few better ways to get guidance on improving your brand’s customer experience than to seek out and receive feedback from the customers themselves. Employ post-purchase email surveys that ask your existing customers to share their thoughts on working with your brand, with a particular focus on how the experience could be improved — then listen to and act on their responses. Social listening, which involves monitoring social media posts to hear what people are saying about your brand, is another good avenue for getting honest customer feedback.
When you do make improvements based on input from customers, share the news about the upgrades via social media. Let your customers know you’re listening, that you care about their satisfaction with your brand, and that you’re constantly working to get better and to make their lives easier … all of which are ways to foster brand loyalty.
5. Build (and share) social proof
When new-to-you consumers visit your website or are otherwise introduced to your brand, they need to know that your brand is credible and worth investing in. And social proof, such as positive reviews, ratings and testimonials, provides one of the best ways to exhibit that other consumers have had good experiences with your business and its offerings. Be sure to ask customers to provide reviews and ratings of your brand soon after their purchase is complete, while their experience is still fresh in their minds. And once you’ve received reviews and ratings, display them prominently so that new consumers know that your brand can be trusted. Each new customer you attract offers a new opportunity to build a larger following and added loyalty for your brand.
Could your brand use some expert guidance in boosting your customer loyalty? At The Brandon Agency, our fully integrated marketing firm boasts a team of seasoned professionals who continually strive to stay in tune with what keeps consumers coming back, and has all the skills needed to cover brand exposure, brand strategy, social media, e-commerce and much more — all in one place. Further, as certified brand strategists, we can help your brand with the big-picture adjustments sometimes needed to put your business on a course to long-term success.
To get started with professional guidance ranging from a simple web-store analysis to a comprehensive strategy tailored to boost your brand’s overall performance and identity, contact us today.