brand loyalty is essential for the success of any business, irrespective of size.
Research shows that repeat customers spend up to 67% more than new customers. Plus it's up to 10 times more expensive to acquire new customers than it is to retain the existing ones.
With that in mind, your marketing strategy should be centered around building brand loyalty. But building an authoritative brand doesn't happen overnight. That's why in this post, we'll teach you various tactics you can employ to increase brand loyalty for your small business.
1. Focus on Customer Experience
Customer experience can make or break a business. According to Bloomberg, angry customers cost companies $5.9 trillion
.
If you want loyal customers, excellent customer service is key. And numbers don't lie. A 2015 Aspect Consumer Experience Survey found that over 70% of people believe a company's customer service is a reflection of how much they value their customers.
When a customer makes a complaint about a product, gives feedback, or even asks a question on social media, they are keeping score. Treat them well and they become your brand advocates. Treat them poorly and they switch to the competition.
2. Offer Corporate Giveaways
Corporate giveaways do one thing that no other form of advertisement can do: They make customers feel loved and appreciated. And once a customer feels valued, they will no doubt stick to your business and become your brand ambassadors.
But what promotional products should you give out?
Promotional bags (like the ones on this page
) are a great place to start. That's because promotional bags are cost-effective and have a wide range of use.
Promotional T-shirts, umbrellas, and mugs also make for great corporate giveaways. That's because they are favored by consumers and offer a large real estate for printing all your relevant company info. For more information on the right promotional products for your business, visit Good Things
, Australia.
3. Keep Quality High
No matter what you're selling, there will always be companies offering a better option or a variant of the same at a cheaper price. To beat the competition, you must offer quality products and a favorable return policy that will reinforce a quality guarantee.
After all, people will always go back to what they know they can count on. Staying consistent in the quality of your products will help you build a solid base of loyal customers.
4. Increase Customer Engagement on Social Networks
Social media has become the target platform where customers air their online experiences with certain products or brands.
As such, you'll want to have active accounts on all social networks to keep abreast of what people are saying about your brand. And don't just listen. Respond and react. It's the small, delightful acts that turn customers from casual followers into loyal fans.
Find ways to encourage your customers to participate in constructive social media activities that will create buzz around your products. For example, encourage them to share user-generated content about your products on Instagram, then give rewards to those who will participate.
Such a strategy can work wonders if you have a huge following on Instagram. If not, you can still grow your following by creating an effective Instagram growth strategy
.
We hope these tips will help you increase brand loyalty for your business. Feel free to comment and share.