Customers are an essential part of the development and growth of a company. You have to devote time and attention to them. According to the latest Adobe Digital Index Report, 8% of a company’s clients account for 40% of its profits. Thus the success and profitability of a business depends largely on customer loyalty. Many, however, do not have suitable strategies in place to foster such a bond.
The first purchase or the first time a customer uses a service is fundamentally important. If the client is satisfied they’ll continue to rely on the company for future needs. To make this possible, we have to take into account a number of factors that will help generate loyalty among consumers.
1. To start earning a customer’s trust it’s essential that the company be available whenever the customer needs them. This inspires confidence. Poor customer service can lead to a loss of up to 85% of turnover.
2. Quality and good customer service are also two key aspects. 88% of customers state that quality service is what makes them trust a company. Price and convenience are also aspects that are taken into account. Customer loyalty doesn’t only favour the relationship between the brand and the consumer but it also works to the detriment of the competition. If a consumer trusts a specific brand, they don’t consider competitors’ offerings. Nevertheless, it’s always advisable to reward their loyalty by offering them benefits and exclusive offers in order to stand out from the crowd.
3. Honesty is another important factor in generating customer loyalty. Customers need a company to be transparent about their identity and have access to basic information. It generates security and trust and encompasses different aspects, including being clear with delivery times, the proposed service and its results. Customers will value this and show greater loyalty to the company.
4. Nowadays word of mouth is key when it comes to choosing between one brand or another. 1% of customers choose a company based on good recommendations. A satisfied customer is the best form of promotion for a company, since around 78% say they’d speak well of a brand with which they’ve had a positive experience.
5. Offering a personalised service to each customer is fundamental for them to fully trust the company. When being provided with a service, there is nothing better for a customer than knowing they are being attended to specifically according to their needs. If the company covers these needs and more, even better. Thus we ensure that the customer walks away with an image of professionalism.
When all these elements are combined, you’ll be well on the way to creating a solid and lasting relationship with the customer. Their loyalty can act as a shield against the competition in a crisis or difficult situation.
Getting customers to demonstrate loyalty to a brand requires time and effort from the whole team. According to the latest study by Brand Keys, Apple, Whatsapp, Google, Youtube, Amazon and Kindle are the brands with the highest levels of consumer loyalty. Behind these come others such as Samsung, and the first non-technological brand in the list, the donut brand Dunkin’ Donuts.