As it is more effective for companies to keep existing customers than it is to attract new customers, building customer loyalty is very important but also very difficult in today’s online marketplace. Customers turn to the internet for online research and find it hard to stay loyal to one brand due to the increased amount of information and online offers. Online shopping trends show that consumers only wish to make a purchase from a company if there is a significant discount offered. Here are three ways to add value to your product or service and increase your repeat customers, without giving away your profit.
- Start a Relationship
Keeping in touch with your target market on a regular basis will let your customers feel involved in your company’s developments. Let them know about exciting new events or product launches to give them a reason to revisit your brand. Engage with them through multiple channels such as social media or email marketing, letting them know you care about their loyalty while reminding them of your brand.
- Stay Relevant
It is important to stay in contact with your customers to maintain loyalty but ensure you do this without always trying to sell. Overtime, your loyalty rewards may lose credibility and become regular to shoppers, making customers no longer feel special. Give customers something more valuable than a discount code and engage with them through diverse content. Ensure your communication is a mix between selling and other valuable content such as helpful advice relating to your industry and products.
- Personalised Rewards
Creating a personalised loyalty reward is a huge factor in successful customer retention and an expectation in the world of digital communication. If your loyalty reward isn’t relevant to your target market then your marketing efforts are providing little value to customers. Keep a close eye on the rewards your competitors are offering and gather the right customer information to modify your rewards to your target market’s interests. Tailoring a reward based on customer insights ensures your messages are effectively targeted to customers and will provide a better chance of keeping them loyal.
Keeping your customers loyal can mean the difference between a successful company and a failing business. We hope this information helps your business retain customers and build brand loyalty. Here at Clarity Marketing we tailor your marketing strategy to suit you and your business’s needs. Give us a call on 1300 060 204 or submit an online enquiry.