Have you ever considered the fact that you may be misinterpreting the term ‘customer loyalty’? The fact is that when it comes to customer loyalty, a lot of people misinterpret it for customer satisfaction, but the truth is these are two different things. However, often customer satisfaction does lead to customer loyalty, but that does not mean that the two things are the same, because that is not the case.
Almost every business around measures their levels of customer satisfaction, but what about customer loyalty? The truth is that customer loyalty is more complicated to measure than customer satisfaction, but that does not mean that you cannot find ways to measure your business’s levels of customer loyalty, and then find ways to improve them if needed.
The issue with satisfied customers as a pose to loyal customers is the fact that just because a customer is satisfied, that does not mean that they won’t choose to move on and use a different company’s products or services. If another provider offers one of your customers a better deal, if they aren’t loyal, the chances are that they will take it.
There is no definitive formula for increasing customer loyalty and ensuring that you are able to hold onto your customers for longer, but below are some tips and suggestions for ways that you can make this more likely.
Reward your customers
Rewards can be a great shortcut to building customer loyalty. Remember, customers, love rewards, because they make them feel valued. Whether it’s a gift card, a discount code, or anything else for that matter, it is irrelevant, all that matters is that you take the time and make the effort to reward your customers. The most successful rewards tend to be the ones that are personalized because personalized rewards make customers feel even more valued, which then encourages them to remain loyal to your brand.
Be loyal to them
Want to ensure that your customers are loyal? Then you need to ensure that you remain loyal to them. What this means is that as a business, you need to be investing in retaining your customers. Don’t be the kind of business owner who only chases their customers at times when they need them, such as during the sales or at the festive season, continually show them that you care, by reaching out to them throughout the year. Offering customer loyalty schemes, like those run by Tesco, Starbucks and Waitrose, can make all of the difference to how your customers feel about your brand.
Build a relationship based on more than business
Many business owners make the mistake of only talking to their customers when they do business with them or when they require support. However, if you want to give your customers’ loyalty a boost, it pays to build a relationship that is based on more than just business. Taking the time to understand each customer’s likes and dislikes and taking the time to get to know them and their brand personally, will have a huge impact on their sense of personal loyalty. Make time to get to know your customers more personally, and you can ensure that you have a more loyal customer base.
When it comes to determining how loyal your customers are, utilizing surveys can be a great way to measure how loyal your customers are. Want to find out how loyal your customers are? Then NPS email surveys could be a good option to invest in, as these surveys should allow you to determine which of your customers are the most loyal. In addition to showing you why these customers are the most loyal so that you are able to make changes to how you deal with all of your customers and the levels of customer care that you offer.
When you keep your promises as a business owner, you show your customers that you don’t take them for granted. This is important because when it comes to customer loyalty, your customers want to ensure that they are valued by the businesses whose services they use. This is important for you as a business because when your business values its customers, they tend to show loyalty to it, helping to increase the speed at which your business grows, as well as boosting customer retainment.
Give as much as you can
Giving to your customers does not always need to be in the way of vouchers or discounts, there are other ways that you can thank them for choosing your company. Another great way to show your customers that you care is to always attempt to deliver items ahead of their schedule – no one likes waiting for deliveries, which is why the sooner you are able to deliver items, the better. It is things like this that will show your customers just how much you care about them, which should help to boost their loyalty to your brand.
Pay attention to the little things
If you look carefully at the companies that always seem to manage to hold onto their customers for longest, you will notice that it is the companies that pay attention to the little things. It could be as small and simple as offering a complimentary coffee like Waitrose does, adding free bag storage space for during shopping, or choosing to give each customer a Christmas gift. It is the little things that can make all of the difference when it comes to customer satisfaction and loyalty rates, which is why taking the time to do more ‘little things’ is so important as a business owner.
Aside from the points mentioned above, other things that you can do to increase customer loyalty include always being warm and welcoming and doing your utmost to ensure that you and your team members are always approachable. Customers have long memories, so when it comes to how you treat your customers, it is vital to always treat them like royalty, because as far as your business is concerned, they are royalty.