How loyal companies earn a steadfast base
There are countless articles out there about how you can secure more loyal customers. While there are tips, tricks and gimmicks out there to help you increase customer loyalty, the truth is that the best way to attract more loyal customers is to be a loyal company.
So where do you start? How do you prove that you are an organization that is first and foremost loyal to the customers it serves?
Close the loop
Let’s say you have launched a customer experience program and you’re analyzing customer feedback. To keep things actionable, a great place to begin is with closed-loop follow up. Closed-loop followup is when businesses proactively reach out to customers who have provided feedback to demonstrate that their input is valuable and that you personally care about the outcome.
While it’s intimidating to try and get in touch with an unsatisfied customer, the most successful businesses view it as an opportunity to prevent the customer from churning. After all, customers recovered by closed-loop actions are 2X more loyal.
This isn’t solely about preventing unhappy customers from becoming detractors, though. Some organizations use the follow up as an opportunity to connect with neutral customers and transform them into promoters. Some even use it to follow up with promoters to convince satisfied customers to share the product or service with a family member or friend or to join a customer advocacy program.
Be sure to share the voice of the customer insights throughout your organization to refine and improve the customer experience.
Pro tip: Tethr scores every post-interaction customer perception to help businesses close the loop more effectively.
Stay true to yourself
Customers chose your business for a reason. It’s up to you to keep delivering. If you don’t want them to leave you for competitors, give them what they came for. Instead of trying to be the brand that offers something for everyone, focus on what you really succeed in delivering.
When a customer has to choose between two companies that are comparable in price and services, they’re going to choose the one that aligns more closely with their own beliefs. That being said, a business that suddenly reevaluates their values and beliefs risks losing customers. As a result, overall credibility takes a hit.
Lead with quality
As you work to stand out in a competitive market, it can be tempting to lower the quality of your products or services to compete with lower prices. This will certainly be at the expense of some of your clients, though. Sometimes, you must raise your prices to maintain the quality your clients have come to expect. Companies who continue to deliver on the expected value are more likely to retain long-term customers, even when the prices have to increase a bit. Always keep the services you provide, the products you sell and the value you promise consistently excellent.
Recognize and reward customers
Being loyal to long-term customers encourages other customers to continue buying from your business so they too can reap whatever rewards or recognition you’re offering. Some businesses use a punch card system to reward customers. Others promote referral incentives. Maybe you just want to offer discounts to customers who have been with your business for a certain number of years. Prizes don’t have to be monetary, either. Perhaps you spotlight loyal customers on your blog, marketing materials or social media profiles in a flattering write-up. Whatever the case, being a cheerleader for loyalty is always good business.
Be a problem solver, not part of the problem
Loyal companies care about customers and actively seek out chances to solve their problems. The importance of having a great customer support team set up for your business can’t be overstated. Not only should it be easy for customers to get in touch with you, they should experience a low-effort experience during their interactions. Provide employee training that gives your staff the tools they need to execute great service throughout the entire customer experience. Service leaders can use platforms like Tethr to help agents get a better grasp on the best ways to handle tough customer situations.
Always think long term when dealing with customers. In order to maintain a loyal customer base, prove yourself as a loyal business.