Congratulations! You were just selected as the next Chief Marketing Officer. If you manage to become a Chief Loyalty Officer too, you won’t ever lose your place. The secret of this position’s success is that this employee tries to de-emphasize traditional marketing in favor of customer loyalty. And we’ll tell you why. For many online stores, it is better to invest in customer loyalty than in marketing. E-loyalty is a useful weapon to fight your rivals on the web.
According to Bain & Co, the increase in customer retention rates by only 5% leads to the growth in profit by 25% to 95%!. So, why do customers keep coming back to such market giants as Apple
There are two winning approaches to raising customer loyalty. First, you have to prove your customers can trust you. Second, it’s all about quality. Customers are willing to pay more for the better products and services. There are five known areas of quality:
- Credibility – authority to deliver the required service or product accurately, with respect to the privacy
- Support – desire to help customers whenever they need
- Tangibles – physical attributes of space, equipment, employees, and communication channels
- Assurance – professional level of your workers which proves their competence to perform trust, mutual respect, and confidence
- Empathy – careful attention to individual customer preferences, expectations, and other details
Build Recognizable Brand Name
Customer loyalty is all about branding. Only recognizable brands attract customers. Remember: people tend to desire what others have. It is important to deliver those brand values consumers wish to be affiliated with. Personal attitudes, preferences, life goals, and even religion formulate these values. It’s hard to penetrate the market with a new product or service. But once you build your brand name, your mission is completed.
Interact More with Your Clients
Customer loyalty refers directly to communication. All-time interactions with both existing and potential customer base strengthen the relations between business and its clients. But a productive conversation occurs only when you really like a person. It’s not enough to value customers only because they are the sources of your income. Of course, it is necessary to match your goals and mission with your client needs but do it wisely.
Efficient customer support also increases the chances to win a solid market share. Insert live chat, online message board, add Skype contacts, and other instruments to make yourself available 24/7. Many clients are impatient, so you risk losing them forcing them to wait for your reply.
Right, each human being is selfish by nature. That is why we love saying “I” and hearing “you.” Personalize every single e-mail, discount campaign, pop-up, and whatever you wish to apply for improved interaction with your customers. Send e-mails and reminders that start with their name. Use friendly words like “dear” when addressing the customer. Stress that you remember everything: from customer’s name to his or her preferences.
Never Hurry Up
For some reason, many e-commerce companies believe they will win the market share by fulfilling all orders urgently. Thus, they lose quality by making foolish mistakes. As reported by Gallup and
MavenEcommerce in their article, customers reject using brand with irrelevant content and rude staff 18% more frequently than services that work a bit slowly.
Prepare High-Quality Content
Make sure your online store is properly optimized and yet responsive so that your customers can view the entire content on any device. It does not matter if you run your website on Magento, PrestaShop, OpenCart, or another e-commerce platform – it is possible to offer content which will be both original and readable. Running a blog and at least two social network accounts will keep you in touch with your customers. It is critical to developing not only business but informal, friendly relations with them. Various surveys and polls will help to engage potential customers as well as learn their demands and expectations.
Make your articles, news, and other written content live by adding some success stories, shocking facts, statistics, and more. Remember: interaction with your potential customers is available not only via phone, fax, or e-mail but through quality social account or site blog.
Offer Favorable Customer Experience
Customer experience is a valuable business benchmark. During the entire customer life cycle, it is crucial to combine all bullet points listed in this article to provide the best experience.
Customers love discounts, bonuses, special offers, and more. By the way, it is better to avoid using any phrases associated with the payment. For instance, insert “Get Now” on your buttons instead of provoking “Order Now”. “Order” refers to spending money. Point to the benefits your customers will get, their improved experience rather than to how much and why they should pay you.
Demonstrate Social Consciousness
Did you notice that eco-food is becoming more and more popular? Most of the successful food producers start promoting meals free of hormones, chemicals, and antibiotics. Perhaps, using fat would make their menu tastier than including only healthy components. However, it is trendy to stay healthy and fit today. As community cares about health more today, it is crucial to perform a high level of social consciousness in order to attract new customers. It’s just another perfect way to prove you care for your customers and their well-being. Spending your resources on helping people (charity, volunteering) always adds up to the customer loyalty. A sign of your care may be a protection of animals, storage of natural resources, help for the homeless, etc.
Make Them Feel Safe and Confident
Safety and credibility are two interrelated features. Without having at least one, your marketing will be dead. Despite the quality and price of your product/service, no one will order from you if there are no security warranties. Every time your customer enters private data into the fields of your site,
he fears losing it.
Ignore Marketing & Advertising!
Of course, you should not do it too obviously. Still, e-mail campaigns, SMM, and other instruments help with your e-commerce growth. But customer loyalty will bring you more money and positive feedback in the shortest period.
Take a step closer to expanding your e-commerce by focusing on the customer loyalty today!
Oleg Yemchuk is a Marketing Manager at MavenEcommerce sharing office space with professional Magento developers. Oleg is a marketing expert by day and tech geek by night.