Building Brand Loyalty In 2020

388
brand

Brand loyalty is a true benchmark of how successful a business and customer relationship is. Do you have the type of customer than comes back, again and again, to buy direct from you? If not, you could be missing out on a large portion of your sales and profits. When you think about even a 2 percent increase in customer retention can reduce costs by as much as 10 percent, building up your brand loyalty starts to make a lot of sense. We’ll show you some modern techniques successful companies are applying to their business models to engage with customers to cultivate that deep loyalty creatively.

BE AUTHENTIC WITH YOUR AUDIENCE

Everyone likes a genuine person. This truth translates to today’s online retailers and even solopreneurs who want to grow their customer loyalty. Never underestimate the power of being honest with your target audience. One way to inject more authenticity into your business is by creating candid content for your brand’s followers. This may mean going live on Instagram to share how your products are positively impacting customers in their day-to-day lives. Or creating an in-depth response like direct-selling giant Amway did to dispel pyramid scheme claims with facts addressing how its company works and how business owners can make money. Even if your messages are considered “marketing,” as long as they are seen as genuine by your customers, they can help foster stronger connections to your brand.

KEEP QUALITY A PRIORITY

In today’s digital marketplace, customers can access incalculable amounts of information about every service or product they may want to purchase. And they do their research. Roughly 82% of consumers research before purchasing a product online or in-store, according to the eCommerce Foundation. So make sure your product or service stands up in comparison with competitors. One way to level up your brand loyalty percentages is to implement eco-friendly practices into your company processes. Studies show buyers want sustainability factored into their purchases and will pay up to 25 percent more for it.

STRESS CUSTOMER SERVICE

Sometimes a product or service will fail. Maybe the packaging was off, or the service didn’t come with everything the customer wanted. Returns, refunds and the like will eventually happen if you’re in business long enough. But the way your team is set-up to deal with those unavoidable snafus is what matters most. Your customers don’t want added upset by having to deal with a difficult return policy or uninformed customer service representative. So, in addition to arming your team with customer-friendly procedures, look into investing in some newer ways of delivering customer support such as:

  • Live chat
  • SMS messaging
  • Social media
  • Email response

HYPE UP REVIEWS

A great indicator of whether you’ve got your customer service dialed in is to see what your customers are saying about your business. Online reviews can be particularly advantageous if they are saying good things, but word of mouth recommendations are also good for bringing in new leads. Modern marketers have taken to calling online reviews “user-generated content” or UGC. Think of any visual content a customer uploads such as a photo of your product or a testimonial as something that can be shared with your online community. Retweeting or republishing this type of content to your company’s social platforms has a way of broadcasting to potential and regular customers alike your brand has proven loyalty.

WHAT BRAND LOYALTY REALLY MEANS TO YOUR CUSTOMERS

If you’ve built brand loyalty the right way with your business, your customers don’t just like you, they trust you. They continue to give you their business because they know you’re reliable and will operate with their best interest at heart. Try adding the above tips to your marketing strategy and watch your customer base grow.