Building a positive relationship with customers has recently become the focal point of any respectable business.The main goal of every company is to have not only loyal customers, but ones that are also satisfied with their particular brand, product or service. Unfortunately, this isn’t easy for marketing and customer service departments of many companies, as they must spend significant resources on customer acquisition and relationship marketing. So how to easily get through to the customer? Let’s dive into it.
How to build customer loyalty?
Loyalty is the tendency to favour one brand over all others, thanks to the satisfaction with the product or service, its convenience or performance, or just simply because of familiarity and comfort with the particular brand. Loyalty encourages consumers to shop more often and spend much more, because they feel positive about their shopping experience. Moreover, loyalty programs aimed to reward customers for additional purchases or their engagement can massively boost this factor.
Did you know that it costs a business about 5-20 times more to acquire a new customer than it does to sell to an existing one?
Below you can find a chart with a “two pie loyalty model”, prepared by Kay Lim from Solvvy.
When building customer loyalty, it’s always good to focus on simplicity. You can, for example, implement a reward system which will increase loyalty and encourage more purchases from your customers. VIP memberships are another thing worth considering, as they create a unique relation between the company and consumer. You may also structure a non-monetary program that will increase engagement and brand awareness. It’s always a good idea to partner with another company, so you can provide more suitable offers and build a useful community for your customers. Another bright idea may be to introduce gamification into your structure or platform. By integrating game mechanisms, you may motivate participation and boost engagement or loyalty.
Relation is key
Relationship marketing is a sales approach which focuses on building long-term relationships that may benefit both the customer and the business. As the business owner, you need to work hard to win new customers, and once they get in – you should do everything in your power to make sure they return with enthusiasm.
Some of the techniques that businesses use in relationship marketing consist of providing excellent customer service, getting to know your customer and foreseeing their needs in the future. Also, you can improve the chances of their return by establishing a mutually beneficial relationship, which will lead to a long-term “friendship”. You can also invite your customers to visit your website, comment on blogs or interact on social media sites like Facebook, YouTube, Twitter etc.
Goals and benefits
The most common goals of relationship marketing are: customer acquisition, satisfaction, retention of the customers and enhancing the clients experiences with your company.