Whether you own a clothes store or a local coffee shop, earning your customer’s loyalty is the bread and butter of your business. The backbone of any successful venture is made up of loyal customers. When customers spread the word about your business and brag about it, your marketing campaigns will only serve as an addition to the existing success.
So, how do you build brand advocates? Read on to get some ideas.
According to a study, 42% of consumers look for retailers that offer credit. They usually ask for the following:
- Flexible payment plans
- A short and simple application process
- Available credit when they need it (in the online shopping cart)
- Clear and understandable terms and conditions
Providing credit to big purchases could increase customer loyalty. Remember that credit is not a one-size-fits-all solution, so as you look at the various retail consumer financing options available, go for one that can accommodate your customer’s varying needs.
Taking a Look in the Mirror
Why would a customer want to be your brand ambassador? Why should they stay loyal to your brand? In a marketplace where competition is so stiff, you need to give your customers enough reason to stay. What makes you stand out? Is it your stellar customer service or your superior product? Find this reason and improve on it.
Reward loyal customers
Repeat customers spend 33% more than new ones. To build brand loyalty, you must reward your loyal customers. You can reward them with discounts, gifts, and other loyalty programs. This may also attract potential customers.
When choosing your rewards, it’s important to understand your customers and the things that would add value to their lives. Consumer data, which you can gather through signups and newsletter subscription, could help you choose appropriate rewards for your loyal customers.
If you’re still wondering why consumer loyalty is important to the success of your business, always remember this: loyal consumers spread the word, tend to spend more, stick by your side, and come back often.