Customer loyalty is the ongoing relationship between you and your customer, exemplified by the level of trust built between your brand and the customer over time. Many factors can be used to measure this loyalty, including whether a customer makes repeat purchases, if they use those purchases, how often, and how likely they are to recommend your company to others. As companies prioritize continued growth and profitability, it’s vital that they take several factors into account.
So, how can you make sure customers come back to your brand again and again? Here are four key tactics to ensure you build a great relationship with your customers.
We all know how much a positive or negative customer service experience can impact customer retention. According to Salesforce, 89% of customers will likely make repeat purchases after a positive customer service experience. HubSpot tells us that 68% of consumers say they are willing to pay more for products and services from a brand known to offer good customer experiences.
Excellent customer service is more likely to keep your company’s relationship intact with a customer if they experience an issue or mistake. Customers expect exceptional service, and the ability to offer this to them will give your company a competitive edge.
Today’s consumers have many options regarding how they interact with the companies they purchase from. Continued growth in the digital space and the advent of AI-based customer service options have allowed customers to reach out from anywhere at any time and often in a way that best suits their needs.
Customers love having options and want products and services tailored to their needs, so it’s essential to meet them where they are. This will show them your company is “buyer-first.” Sixty-four percent of customers prefer doing business with companies that can resolve their issues in real-time, and being available on multiple platforms will better enable them to do so.
By implementing an omnichannel customer service experience, you can create more connected and consistent customer interactions, leading to speed, convenience, transparency, and trust.
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Growth in technology has increased the possibility of cybercrime. Customers value their data and privacy and are more likely to stay with a company that can better prevent data breaches and fraud. According to a 2023 surveyfrom PwC, trust in businesses continues to be imperative, and maintaining that trust requires customer data to be protected, especially given that 79% of consumers surveyed said that protecting their data is “very important” when building trust.
Security measures such as multi-factor authentication, the ability to control user privacy settings, and transparency in how data is used are key factors in ensuring an excellent – and secure – customer experience that will keep customers coming back.
Sustainability is a word tossed around a lot, having become a catchphrase for environmentally sound practices. It brings to mind clean water and air, saving animal species, and conservation; however, sustainability is no longer simply a reference to how environmentally sound a company’s business practices are. Sustainability also connects to social responsibility and weighs heavily on the human factors behind a product or service. Customers want to know they are making ethical decisions in their purchases.
According to Brad Dockser, CEO at GreenGen, “There are plenty of people who will be attracted to the social good side of a business because they want to align themselves with the value system and morals of the products that they consume.” Customers are more likely to remain loyal to brands that connect with and impact their communities, lower the environmental impact, and put people over profits.
When thinking about customer loyalty, there are many components that should be taken into consideration. Having a better understanding of your customers, creating safe and individualized experiences, and ensuring your practices have minimal effect on the planet while showing a strong moral character will keep customers returning to your brand.
Olivia Arver-Grimmis a senior consultant with an extensive background in process improvement, product development, and customer experience. She is passionate about bringing these together to strategize solutions for businesses.
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