6 strategies to increase customer loyalty
The emotional bond with your brand is known as customer loyalty.
You can employ loyalty with your customers by building long-term relationships based on consistent, positive brand experiences.
It’s always less expensive to retain customers than to acquire new ones.
So it would be wise to invest in loyalty programs and relationship marketing.
Loyalty customers respond
The statistics below are members of loyalty programs compared with non members, members of loyalty programs who respond to email had:
- 40% higher open rates
- 22% higher click rates
- 29% higher transaction rates
- 11% more revenue generated per email
Calculate customer lifetime value (CLV)
How much is a customer’s lifetime value?
This number lets you determine how much you can spend to acquire and retain a customer and remain profitable.
Loyal customers tend to spend more money and stick around longer.
In saying this, it is worth building strong relationships with these customers.
(average value of sale) X (number of repeat transaction) X (average retention time in months or years for typical customer)
Create a good first impression
Customer attention is always highest at the beginning of the interaction with your brand.
Be sure to make this experience a positive brand experience.
74% of consumers expect to receive a welcome email when they sign up for something, and 53% of marketers agree that welcome messages help achieve business goals, but only 39% of brands actually send one.
Be inviting and engaging!
More than 64% of U.S. and U.K. Internet users want marketers to demonstrate knowledge of the types of products, services and offers they like.
Listen when customers tell you what they want
Segmented email campaigns produce 30% more opens and 50% more clicks than undifferentiated messages.
So the effort to segment your lists is definitely a worth while investment.
Let customers get to know you
Not all of your customers will react to your communication the same way.
This is why this is important to experiment with different communication strategies.
59% of respondents are more likely to trust brands that integrate social media. (Mass Relevance: The Social Hunger: Why Your Audience Feasts on Social Integration. 2012)
Reward your customers
Your customers need to feel special.
They need to feel a sense of exclusivity and that the longer they stick around the more benefits they will experience.
7 in 10 people say they have used a coupon or discount from a marketing email. (Blue Kangaroo Study, 2012)
Bring excitement and delight
63% of consumers agree that social experiences make them more interested in a brand’s product. (Mass Relevance The Social Hunger: Why Your Audience Feasts on Social Integration, 2012)
You need to inspire emotion from your brand.
When you involve your customers in interesting events they can participate in, the more they will feel an emotional connection.
Below is the Get Response infograph of the above information: