Valentine’s Day is fast approaching, many Australians and people across the globe celebrate in various ways to show their loved ones that they care. From simple gestures to expensive gifts, intentions are to show that we understand, appreciate, and value our loved ones.
What if, the business owners made the effort to make their customers feel understood, valued and appreciated? What could this do for the businesses? Well, the answer is a lot!
On a regular basis ,many businesses focus on getting new customers. It’s the obvious way to increase profit margins, correct? absolutely Wrong.
Don't try to tell the customer what he wants.If you want to be smart, be smart in the shower. Then get out, go to work, and serve the customer!”―Gene BuckleyTweet
why? Because focusing highly on new customer acquisition, at the expense of your existing customers' happiness, is a mistake and probably be costing your business.
Let's Think about some of the most successful brands like Apple, Chanel, Pandora and Gucci. For lovers of these brands, what they evoke is an emotional response not a rational one. Loyal customers “love” these brands. This could be true for small businesses. As a business owner, how do you make your customers feel understood, valued and appreciated? How do you get them to “fall In love” with your business? Ultimately, how do you achieve customer loyalty?
Customer loyalty surely not just about some fancy membership card and a loyalty discount. Loyalty is also about knowing your customer and reminding them that they are highly significant to you.
Check out these three check points to achieve and measure a loyal customer base for your growing business.
These days, brands must try even harder to create and communicate value in everything they do. Customers have an overwhelming abundance of choice. They have high expectations and little loyalty to spare if brands fail to meet them. It’s very much a buyer’s market. Whether you are deciding on a restaurant to visit, your next car, or which digital marketing agency you want to use, there are choices available and many factors play a part in forming that decision.Customer value is all about subjective perceptions, which can only be influenced, not controlled.
Think of everything you do in terms of delivering value to your customers and audience with the understanding that they have choices and you are not the only choice.
Customer loyalty programs
Loyalty programs are significant to most customer-concentric businesses, but choosing the right type of scheme for your customer base will ensure long-term success. For example, a percentage off scheme may not suit businesses with high ticket items, but loyalty points and complimentary gift voucher schemes may provide an incentive for customers to return and redeem rewards. Retailers may also choose a combination of schemes, discount structures and benefits.
“Assumptions are the termites of relationships.”―Henry WinklerTweet
Reminding your customers you’re here can be as simple as sending an email, but targeted marketing will always get a better response. Using customer interest groups to drive direct marketing where it counts is an ideal way of managing customer communication needs. Segmenting your database and tailoring your marketing message to your customers is vital.
“Just having satisfied customers isn't good enough anymore.If you really want a booming business, you have to create raving fans.”―Ken BlanchardTweet
Knowing your customer’s communication preferences will also improve the success of your communication. Whether it’s email, SMS or printed media, ensure your CRM system can accommodate a variety of customer preferences.
With customer loyalty comes brand awareness, word-of-mouth and business growth. Loyal customers advocate for your business and tend to acquire new customers on your behalf.
Simply by focusing on your current customers you will find new ones.Meeting your customers’ needs and expectations will keep you from pushing down your bottom line to generate new business and allow you to reach for the best attainable margins with your loyal customers.