Customers want to feel that they are more than just a number to make them stay. Which is why, retention can be a challenging task to face. Based on research, acquiring new customers can be more expensive than retaining. If businesses focus on developing customer relationship, it’ll lessen their cost on brand activations and awareness.
In order to create the ever-effective loyalty program, you have to give the full experience. When people remember their experience with your service or product, it is most likely for them to recommend it or talk about it.
To provide them the full experience, here are five areas to take off from:
Knowing that only few people can have access to certain things gives the person a sense of fulfillment and importance. This is what customers like about loyalty programs. It increases the emotional attachment of the customer to the product because you’re giving them more than what they asked for.
In fact, according to Accenture, customers are enticed by different incentives and in 2017, 61% of customers find financials rewards much more enticing. Which is why, an effective loyalty program will drive customer loyalty higher.
Rewards and Referral Fee
It’s a no brainer that your loyalty program should include rewards. Customers appreciate this little things after purchase because they feel that they are being valued. By doing this, not only you are providing a positive experience to your patrons but as well as increasing your brand awareness and referrals. Customers tend to recommend a product/service to a friend if they believe in it or experienced an enjoyable transaction.
In line with the positive experience that your customers are purveying, whether offline or online, it is ideal for you to reward them and let them see that you appreciate what they are doing for you business.
There is no better service than an honest concern from a business to its customers. Everyone has been in the customer’s shoes and you can totally tell if the company is genuine on helping you or you’re just another name in their database.
Business owners should take into consideration that people wants emotion out of your service/product. An experience that they will remember. If you can pull this off, it will build a stronger loyalty and trust between both parties because it has been proven that it costs five to 25% of acquiring new clients rather than retention.
Fast Responses and Open Ears
Another perfect ingredient into establishing brand loyalty is quickness and openness to issues. Even if you care for them to the moon and back, it won’t look authentic because they will still end up devalued because of the slow customer service. It would be best if any issue reported can be addressed quickly to avoid worsening the situation for the customer.
In line with the fast response, listen to what the customer really needs, and calmly guide or tell them what needs to be done. You don’t want them going on social media and start writing a bad review about your company.
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