Are Your Customers Loyal to Your Brand ?

 

Are Your Customers Loyal to Your Brand ?

Introduction

  👉Are your  Customers not buying your product? 

 👉Do you want to make your Customers  loyal to your brand?

       "Brand Loyalty " and "Customers  Loyalty" are two strong points in any business. today every big brand and small company is continuously creating brand  loyalty to retain their customers. 

you need to have customer loyalty  department whether you are running  a small business  or big to retain your customers.

 now, the question arises "what is loyalty?"  

Understanding loyalty

loyalty is a bond between you and your Customers. It is different from Customers satisfaction.

Customers satisfaction is more like a rating system, wherein your Customers says , "I'm 10 out of 10 satisfied". but this doesn't mean that is loyalty to your brand.

this because a satisfied customer can the move to the next product or services any day at time.

For Example 

It is not necessary Apple's Customers is satisfied  with Apple mobile, but  he is brand loyal and will never leave leave this brand.

Harley-Davidson - Customers won't like to switch  form  this brand to hero moto Corp.

Thus, loyalty is an emotion tool which can be built step by step. Every businessman  can create brand loyalty. And their Customers will never switch form their brand on any condition.

Loyal Customers is your promoter! 

A loyal Customers, starts spreading about your brand through  'Word of mouth' marketing 

In effect, he is not just your customer, but  he becomes a promoter to your company and generally works like unpaid salesman.

If you can retain 5%  of  the existing customers then your profit will increase form 25% to 95%

     -Harvard business school

"Foundation of loyalty is TRUST", where trust is more Likelihood  of business increases many folds.

Thus, loyal customers

✔ Increases your brand equity

✔ brings down your cost almost by 7X 

✔ Increases Repeat and Repurchase.

Now, let's see how we can go on creating brand loyalty or customer loyalty step-by-step. 

How   to Create Brand Loyalty?

#1: Point-Based loyalty 

By giving points on each shopping one can generate online conversion and in-shop experience. 

It will  "increase engagement of your customer with your brand" and they would like redeem points on their next shopping.

For Example:

Amazon prime has become "King of Brand Loyalty" through impulsive shopping, value for money, exclusive deals and free videos.

Nowadays, social media has emerged as a big platform to increase loyalty on Facebook, Youtube, Twitter and Instagram.

#2: Customer Referral program

If you have a platform where you can increase the customer engagement then it will lead you to more customers. In this, the customer  becomes your partner in the customer acquisition process.

You can give some benefit or perks to your existing customers for making new customers.

For Example:

Ola and uber give free ride to their customers on referring their app to new customers.

#3 Data Analysis:

Try to analyze the data history of your customers through Electronic Virtual System (EVA).

Based on this data, try to interact with your customers and make them loyal.

You can also increase involvement through whatsapp for business, chat, messaages which could "involve your customers emotionally" or solve their problems.

#4 Omni Channel Strategy:

It is a very important and successful strategy. You just try to touch you customers emotionally by using one of the following tools.

👉 social media 

👉 mobile

👉 online sites

👉 physical store

👉CRM and big data 

you need to make them feel special by -

✔ Wishing your customer on birthday 

✔Offering coupon  or discount voucher 

Always follow 80:20 Rule - It says if you send 8 messages related to awareness for customer benefits, than only to send 2 messages to ask them to buy your product and services.

You can adopt these strategies to build customer loyalty for your brand and achieve great success in business.