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How to reward loyal customers?

Building a customer relationship is an important part of a business’s success. Increasing loyalty helps to develop the company, make the brand recognizable, attract new customers and increase revenue. A satisfied customer is a valuable resource that helps a brand grow and become even better. Therefore, it is important to increase the level of loyalty to the company using marketing techniques and techniques.

What does a loyal customer of the company give? Stable profits, free advertising, staying ahead of the competition and a host of other benefits. Increasing brand loyalty is important for both large companies and small businesses. Loyal customers bring several advantages.

Competitive advantage

There are a lot of companies on the market that can compete. Price is not the only factor in customer retention. Even if the goods in another store are more expensive, the client will buy there, if the trust in this store is higher.

The thing is that the main task of increasing brand loyalty is customer retention. It is important to ensure that customers continue to buy only from you, even if competitors offer better termsй. Properly building a loyalty program will help you stand out from other companies and stay ahead of them, even if they have certain advantages.

Customer retention and acquisition

According to studies, reviews from loyal customers are trusted by 90% of friends and acquaintances, and 65% of other social networks users. This suggests that the introduction of a loyalty program not only retains existing customers but also attracts new people. This contributes to business growth and brand image enhancement.

Reduced marketing costs

Marketing researches have shown that it costs 5x more to acquire a new customer than retain people who have already made a purchase. Many companies make one key mistake: they invest resources in acquiring new customers instead of retaining old ones. If you increase loyalty, then the likelihood of a repeat purchase increases significantly.

Be open with your customers: let them know you

The best way to befriend a customer is to be open to them. Friendship needs to be built through communication and trust-building. Communicate with customers through social networks, advertisements, news. Offer personalized deals and you are guaranteed repeat purchases.

Encourage customer reviews

The person who wrote the review is already partial to the company. Even if this review is negative, you can always make it neutral and even positive. It is enough to encourage reviews from customers. How to do it: Offer a discount on your next purchase after leaving a review. This technique works very well for repeat purchases. Respond to the review, be it positive or negative. This will give the customer a sense of brand affinity and ownership.

Practice the basics of good customer service

Our mentality has inherited a unique style of service. There are even establishments where rudeness is a distinctive feature that affects recognition. At the same time, in a highly competitive market, every buyer wants to be “king”. Customer loyalty grows by leaps and bounds if you agree to play this game with the customer. Good service should be the norm for any company, and then customers will be happy and satisfied.