The backbone of your business should be built upon customer loyalty. However, finding loyal customers may not be as easy as you think. People tend to be loyal to certain business for a wide variety of reasons. It can be difficult to predict the real reason a person will stick with your business in the long-term, as people have a wide range of motivating factors, however there are a few factors that have been proven to lead to more long-term customer relationships.
In this article we’re going to look at the power of customer loyalty and what you can do to improve customer loyalty in your business, whether it’s offline or on.
When it comes to loyalty there few a few types that are most common. The first is convenience loyalty, which has to do with location and ease of use. For instance, if you pass by a coffeeshop in your town on the way to work, you’re going to stop by that business because it’s convenient for you to do so.
Convenience loyalty is more common for offline businesses than online, as it’s harder to maintain convenience throughout the online ecosystem.
The second is purchased loyalty, which is related to business elements like customer loyalty programs. Purchased loyalty is fairly common, however it doesn’t quite cultivate the same level of loyalty as other methods. For instance, if you’re a member of a frequent flyer program, then you’re going to be more loyal to the rewards program than you are the actual business.
The third is restricted loyalty which usually occurs when there’s no other competition in your area for the service you’re offering. For instance, if you’re the only dry cleaner in your area then you’re going to have a restricted monopoly on that market.
However, beyond these initial tactics the best means to actually cultivate long term loyalty is through cultivating true loyalty. True loyalty is different than most other forms of loyalty as it needs to be earned.
The best way to earn true loyalty is by doing whatever is in your power to ensure your customers are always satisfied. As long as your customers are increasingly becoming more satisfied with your company, then your loyalty will improve.
People love to choose sides in an issue. If you can position your company as an either-or choice, then customers will feel compelled to either be with you or against you.
This means that the people who do choose to work with you will become more invested in your company, as it represents a part of them and they feel invested in the cause. Just think of the polarizing ads that exist between Apple and PC, and how heated people get over each side.
We’re naturally programmed to check for varying social cues that suggest status. For instance, people buy certain brands simply because they give them a sense of higher status. Just take note of luxury brands like Mercedes Benz.
If you can build the feeling of high status into your product or business, people will be more likely to buy it for the association feeling.
Connecting from your business to your customers is great, but what’s even more powerful is connecting customer to customer. When you can have customers that connect to each other through your business it builds a sense of community.
When people can connect to other like minded buyers, and maybe even make new friends through your services or offerings, they’re going to have a deep level of appreciation for what your business does.
I hope this article has been helpful and you have a greater understanding of what you can do to further your customer loyalty. If you’re looking for a digital marketing strategy to help grow your business in the online space, then get in touch today.
by Calvin Bryant
Digital Marketing Geek