Existing customers are the essence of companies. Lately, marketers have been spending more time on current customers - revamping what customer services really mean. Capitalizing more in customer relationship management (CRM) systems and improving communication with their customers.
Today, social connection is a way for customer loyalty, which has become more valuable than ever. Consumers share stories of their interactions with businesses on social media more commonly these days.
Since customer loyalty can be critical to making a sale, ask yourself what you're doing to nurture that process. When was the last time you spent money or resources on making your customers feel appreciated? Many might argue that a focus on customer appreciation isn't just a best practice -- it could mean the difference between failure and survival in today's social driven economy.
Here are five ways you can take customer loyalty and step up the relationship:
1. Never forget to say 'Thank You
Most of us have a Website or email that thanks our customers for being loyal, whether that means joining the local community, purchasing a product or signing up for your newsletter. It does not matter but a "thank you" directly from you has more value than all of these items combined.
2. Boost your feedback channels
Feedback comes in many ways, but chances are you're getting customer responses you aren't even using or noticing. While many companies tap into what their customer service department is hearing, they are less likely to proactively survey their website visitors or to analyze their cancelation and return forms. That is an opportunity lost in achieving more information on what customers need and want.
When you take the time to improve your feedback channels, you are telling your audience, "We care about what you think and how we can improve those areas." This reminder can help build loyalty and help you answer concerns in an opportune manner, reducing customer loss and building trust.
3. Extending beyond cancellations factor
having an accurate count is always important as much as customers that are cancelling. In addition to monitoring your customer’s loss, you can gauge loyalty by watching your company's frequency of customer interactions with your business and the length of time between customer visits. By tracking how engaged customers are and how likely they are to recommend your company, you can get a more complete degree of their loyalty.
4. Allocate someone to manage each customer
tracking & improving customer loyalty can be a challenge if no one specific is managing them. Good candidates for this responsibility often come from a variety of groups including, customer service, marketing, operations or product teams. At times customer loyalty can touch several departments in your organization, but each company does deserve its own champion to achieve the maximum success.
5. The Loss and the Gain
while customer loyalty should have a devoted advocate, it is a company-wide effort. Unfortunately, customer loyalty at times takes a second seat to revenue and profits. Why is that? Many companies see customer loyalty as something beyond their control, that it is the natural result of the websites they build and products & services they sell. But companies can miss out on opportunities to develop trust and loyalty by making time and interacting with customers.
Customer loyalty is a very important revenue builder for your organization. Think of it as an extension of your family. We always take care of family…Right?