Selling to your current customer base is simpler and more cost-effective. According to HubSpot, you are 60-70% more likely to an existing customer than a new prospect. In this guide, we are going to look at some of the ways you can encourage customer loyalty so that your current customers keep coming back for more.
Establishing your brand identity is the first on the list. If you want to achieve a relationship of loyalty with your customers, you need to have an identity. Having an identity will help your customers to recall the company they bought from in the past and quickly understand what they offer. Without a strong brand, your customers will easily put you to the back of their mind and forget about the incredible value that you offer.
Take the time to ensure you have an identity and ensure it is consistent across all your communications.
Rather than using your marketing communications to demand customers buy from you, start moving towards a value-driven marketing approach. This means that your marketing efforts will aim to add value to your customer's lives before they have even bought a product or service from you. This ‘value-driven approach’ is a great way to build a relationship with your customers and encourage them to stay loyal to your business.
There is a collection of channels you can deliver value-driven marketing with the availability of websites, blogs, social media, email, Google and a physical presence. These are just a few examples of the mediums available to allow you to deliver value to your audience.
This is a very common strategy to encourage customer loyalty and is used widely across many different industries. The idea is for a business to develop a loyalty scheme that offers more customer perks or benefits as a customer continues to shop with that business. These perks can come in the form of discounts, vouchers or even limited access to exclusives that the business offers, which provides a customer with an incentive to keep coming back and continue shopping with that particular business.
Corporate social responsibility (CSR)
People like to buy from brands that make a difference. More than 60% of consumers stated that they would like to buy from brands that help them make a difference. Actions that positively impact the wider community can make your customers more loyal because consumers are now looking to make a difference themselves by shopping more wisely. If they can find a business that helps them achieve this, they will continue to buy from them. Not only will you be improving the world through thoughtful actions, but you will also be encouraging customers to stay with you.