Brand Loyalty Isn’t for Sale
By Peggy Blaze-Lundgren, Account Director
According to the Forbes Agency Council, the Pareto Principle states that 80 percent of a company’s future revenue will come from 20 percent of its current customers, which is why it is so important to focus on building a loyal, repeat customer base. But in today’s hectic, distracted world, how can a company secure loyal customers?
Below are a few tips to build and maintain customer loyalty:
1. Connect with Customers
Good, bad, or ugly — companies should always listen to their customers’ feedback. Customers who believe they are being heard will feel more connected to your brand and evangelize it to potential new customers. Connect with customers on a consistent basis. After-sales communication is a critical element to establishing a long-term relationship. After all, a satisfied customer is a loyal customer. Conversely, if something does go awry, a great way to increase brand loyalty is to address the concerns quickly, efficiently, and above all, to the customer’s satisfaction.
2. Consistency to the Core
As business magnet Elizabeth Arden once said, “Repetition makes reputation and reputation makes customers.” Therefore, strive to consistently repeat your brand’s messaging the same way every time, whether the medium is marketing, advertising or social media. Equally important is delivering a consistent level of quality products and services. Providing a level of quality that customers can count on will earn you their loyalty.
3. Anticipate Your Customers’ Needs
Exceed your customers’ expectations by staying one step ahead of them. Anticipating what your customers might need — perhaps streamlining sales and ordering — before they even realize it and then going above and beyond expectations to provide it earns loyalty.
4. Practice Philanthropy
Scientific studies show that customers are more loyal to companies that embrace philanthropy as part of their core philosophy, as social goodwill increases the perceived quality of a product. But when donating money or volunteering time, don’t be a #humblebrag; instead let others tell your story, which will resonate with your customer.
5. Personalize to Provide Greater Value
Take the time to learn and truly understand your customers’ personas. What are their industry pain points? What do they want to know? And why do they like your product in the first place? Then use this information to create personalized marketing campaigns and to deliver what they want based on real needs. Personalizing your marketing efforts pays off in increased brand loyalty.
If you want to personalize your company’s marketing messages in order to build brand loyalty, InGear is here to help.