An astounding 77% of all consumers admitted they now retract their loyalty more quickly than they did three years ago.
With such a wide variety of products and services available on the market, it’s no longer the case where a product is so revolutionary that it can sell itself. Businesses must now work harder than ever to not only find new customers but also give them a reason to remain brand-loyal. Loyal customers make a company reputable and can quickly help a brand get ahead of the competition.
Generally, loyal, returning customers are far more likely to spend money on higher-end products or upgrade their existing services, which provides businesses with far higher revenue than that generated by new, single-purchase customers. Returning customers can also give businesses a fantastic opportunity to gain honest and constructive feedback and help a company understand more about their target audience’s needs.
Credico believes more can be done by businesses to increase customer loyalty, offering three vital pieces of advice to ensure customers return:
Does your sales process match your brand message?
23 per cent of consumers demonstrate a negative or non-existent reaction to companies’ loyalty efforts. Credico suggests that the only way for a business to understand whether they are fully meeting customer expectations is to experience their own sales process. Physically going through every stage will help companies identify any issues that may deter customers from returning, such as whether the process feels rushed, if customers feel unnecessary pressure to buy, or a poorly designed customer loyalty scheme. Even if the process seems fine in theory, going through it physically may reveal unexpected elements that require a bit of work.
Is your company doing enough to maintain customer relationships post-sale?
Many customers may feel that a business is no longer interested in their needs once a purchase is made. This is a significant factor in customers moving away from a brand, and Credico urges businesses to look out for their customers continually. Companies should let their customers know they are willing and happy to help to keep a customer loyal and ensure their product or service is still meeting the customers’ needs. Credico recommends businesses “check in” with customers occasionally to assess any issues they may have yet felt were too small to contact the company directly. By reaching out to customers in this way, businesses can help make customers feel valued whilst resolving issues before they become more severe and extensive.
Are your personalisation efforts optimising your customers buying experiences?
Credico suggests that more businesses need to understand the difference personalised interactions can make. Adding a personal touch to service is essential. Learning how to pronounce a customer’s name correctly, building a strong connection, and tailoring a service to meet a customer’s specific requirements are a few ways to personalise the buying experience. By allowing customers to connect with a real person, businesses can help customers feel valued as individuals. These small interactions can go a long way towards customers increasing their purchases. A recommendation from a friendly team member with a genuine desire to help doesn’t feel like selling. Therefore, customers are far more likely to feel their needs are being met in person than if sent a mass marketing email.
Credico UK specialises in providing its clients with direct marketing solutions. Their 30-year experience in the sales and marketing industry has taught them how necessary customer retention can be to a business.
Credico customises its innovative marketing campaigns to suit its clients’ individual needs, ensuring the best possible results in sales, customer acquisition, and brand awareness.