Customer loyalty is the process of developing a lasting and stable relationship with the customer. Thus, the customer returns to purchase the products or services on a regular basis.
For this to happen, the customer needs to have a set of satisfactory experiences with the business. This way, they develop a relationship of trust and satisfaction that must be maintained with continuous effort.
Advantages of loyalty
The most interesting advantage for companies is financial. Certainly, selling to existing customers is much cheaper than acquiring new ones. Keeping customers costs on average 5 times less than attracting new ones.
In addition, loyal customers, who use your products or services with a certain frequency, ensure a more predictable income. This reduces anxiety and the insecurity of people involved in managing the company.
A loyal customer is also reliable for providing feedback. They can inform when something gets worse or improves, thus enabling the company to mold itself to the real customer profile and produce more relevant services or products.
The customer who has built loyalty with the company is the person who will do the most important marketing, which is the recommendation. They will introduce your business to friends and family who will trust the recommendation.
How to implement it?
The best way to build customer loyalty is to make them feel important and think that they benefited from buying from you. Therefore, virtual and physical companies need to use different strategies.
In a physical manner, it is common to use discount cards, offer freebies, and personalized promotions. Furthermore, it is super important to invest in good communication, especially listening to the customer's desire.
When the business is virtual, the digital presence must be constant. Therefore, it is necessary to provide relevant content that engages the customer with the company. It is this content and presence on various platforms that will provide authority and trust.
As most companies currently operate both in-person and online, the trend of loyalty programs has gained even more strength. They combine the physical with the virtual, ensuring complete immersion of the customer into your company.