Increasing Customer Loyalty
Customer loyalty is more important than ever before. The “millennial” customer era is upon us, and they have different expectations than previous generations. As a business owner or manager, you are responsible for understanding how to develop customer loyalty and use it to your advantage.
Why customer loyalty is important
Studies show that just one negative interaction with a customer can negatively impact the company’s bottom line. According to Jonathan Osler, as an educator who has been teaching marketing for over 30 years, “the era of the millennial customer is upon us, and they have different expectations than previous generations.”
Specifically, millennials have higher expectations when it comes to service and quality. They also want their interactions with brands to be memorable in a good way. For example, they prefer face-to-face interactions more than other generations and like transparent brands about their values and practices.
Four ways to create customer loyalty
1. Create an experience that’ll be remembered
The first step to having loyal customers starts with creating a memorable experience. It’s not enough to sell a product or service; you also need to provide an experience different from competitors. Customers want to feel like they are part of your business and know what makes it unique.
2. Give customers memorable experiences
A memorable experience will make customers come back for more.
It’s not enough to offer a product or service; you also need to create an experience. When people are experiencing something for the first time, their brains release dopamine associated with pleasure and reward. This feeling of satisfaction, combined with the memories of the experience, will give your customer a positive view of your business.
To create a memorable experience, Jonathan Osler, an experienced and qualified educator, believes that you need to focus on such things as making sure guests feel welcomed, personalizing the customer’s experience, and offering them value beyond price.
If you want your customers to come back for more, start by giving them an unforgettable time.
3. Offer the best possible service
The most important way to build customer loyalty is by providing excellent service. According to him, an educator and author who focuses on building customer loyalty, “A company that offers the best possible service will always be in demand.”
4. Make sure customers know why they should choose your brand
The way you stand out from your competitors is by making sure that your products are better than theirs and that there is an apparent reason for customers to choose them.
A loyal customer base is one of the most valuable assets a company can have. So how do you get customers to become loyal to your brand?
The first thing to consider is to offer them an experience they’ll never forget. If they’re able to remember the great time they had while shopping with you, they’ll want to come back again. And customers who are happy with your service will refer their friends and family to your business.