Tags: Incentives & Rebates
Creating Customer Loyalty and Customer Acquisition
Chances are, if you’ve ever shopped for a new pair of tennis shoes, you know how overwhelming it can be. But if you have purchased dozens of tennis shoes over the years, you most likely have one particular brand you go to first, every time. Whether it is the brand’s style, fit, or reputation, you are loyal regardless of price or competition and you’ll always give them a chance first.
Creating customer loyalty is what businesses aim to do, regardless of the industry. They want to reach their target audience again and again, consistently providing a personalized experience to their loyal customers.
But how do brands turn newly acquired consumers into repeat customers?
It’s no secret that customer acquisition is one of the most expensive processes when building a brand. Because of that, it does not make sense to disregard customer loyalty after putting in all that time and effort of acquiring new consumers.
In fact, customer loyalty programs can be used during the customer acquisition process. Offering rewards, points, and other incentives not only drives brand loyalty among existing customers but also entices new customers.
Climbing the Loyalty Ladder
Customer loyalty programs enhance the entire customer experience, not just the purchasing phase. To understand how best to utilize a customer loyalty program, you first need to understand the customer journey.
Hubspot describes this as the loyalty ladder. This ladder has stages that describe the relationship companies build with consumers:
1. Leads - These are qualified, potential customers that you hope to expose to your product or service. Once they have been exposed they become prospects. They may be looking at multiple options and familiarizing themselves with you as a business.
2. Customers - This rung of the ladder is defined as a first-time buyer. This is where your remarketing efforts, customer service, and incentives can drive them to the next stage.
3. Clients - You now have a repeat buyer on your hands and the competition will have to fight you for their attention. This is your chance to build to the next rung of the ladder.
4. Advocate - If you build a relationship, your brand advocates will market for you. They will tell their friends and family. They will recommend your products or services whenever they can. Our tips for customer loyalty can help you get to this stage of the ladder.
Group O’s 7 Tips to Build Customer Loyalty
Now, let’s dive into the 7 effective ways to build customer loyalty for your brand:
Rebates: Offer rebates to customers who make repeat purchases, providing them with an incentive to continue buying from your brand.
Rewards: Implement a rewards program that allows customers to earn points for each purchase, which can be redeemed for discounts or exclusive offers.
Incentive Programs: Create incentive programs that encourage customers to engage with your brand, such as referral programs or exclusive access to new products.
End-to-End Support: Provide end-to-end support for your customers, ensuring that they have a positive experience from the moment they make a purchase to the moment they receive their product.
Personalization: Tailor your marketing efforts to individual customers, providing them with personalized recommendations and offers based on their preferences and past purchases.
Consistency: Deliver a consistent experience across all touchpoints, from your website to your social media channels, to build trust and loyalty with your customers.
Communication: Maintain open lines of communication with your customers, seeking feedback and addressing any concerns or issues promptly. Take an omnichannel approach allowing your customers to meet you where they want to be met.
Turn New Customers into Repeat Clients and Brand Advocates
By implementing these strategies, you can build strong customer loyalty for your brand, turning newly acquired customers into repeat customers and advocates for your business.
Group O can help you from the point of designing your customer loyalty program to the last rung of the customer ladder - brand advocates. We’ll become an extension of your team, and care for your clients just as you would. You can count us in as brand advocates as well!
To learn more or to get started, call Group O today at 866-476-8761.