5 Ways Great Companies Build Customer Loyalty

By Refresh Leadership on June 19, 2019 in Quick Tips One of the most powerful tools for building a successful business is a loyal customer base that freely advocates for the services or products you provide. Even the smallest businesses can become a giant when the word gets out that…

By Refresh Leadership on June 19, 2019 in Quick Tips

One of the most powerful tools for building a successful business is a loyal customer base that freely advocates for the services or products you provide. Even the smallest businesses can become a giant when the word gets out that they’ll go the extra mile to build positive relationships with their customers.

But that kind of loyalty isn’t created overnight. In fact, according to research from Yotpo, “37% of consumers say it takes five or more purchases before they consider themselves loyal to a brand.” So, businesses must be willing to put in the work to create a brand that inspires a devoted fanbase. Consider, these five ways companies build customer loyalty as a great place to start.

Make service a priority

According to research from Hubspot, “90% of consumers are more likely to purchase more, and 93% were more likely to be repeat customers at companies with excellent customer service.” In the end, for any business, the most basic building block of die-hard customer loyalty is great service. From how they’re greeted at the door to how quickly and efficiently problems are resolved, companies that put service at the forefront will prosper.

Stand for a noble cause

People like to support products that stand for a noble cause or take a socially responsible stance on certain issues that are meaningful to them. In fact, a recent study conducted by Accenture found that “48% of consumers who are disappointed by a brand’s words or actions on a social issue complain about it.” And 42% will “walk away from the brand in frustration with one in five never coming back.”

Engage personally

Whether it’s to fix a problem, ask for feedback, or simply say “thanks,” a one-on-one conversation with a customer goes much further toward building loyalty than a sweeping blanket statement to no one in particular. According to research from Virtual Incentives, 69% of consumers say they “feel more favorable toward a company that delivers personalized messages or rewards.” For example, consumers don’t want to talk to ABC Company, the want to talk to “Sarah” with ABC Company.

Ask for input

When building a loyal customer base, it only makes sense to include your customer, to some degree, in the planning and development process for your products and services. The best way to discover if you’re hitting the mark is to ask your customers directly. Research from InMoment found that “nearly 50% of customers say they’ve left a brand to which they were loyal to go to a competitor that is better at meeting their needs.”

Reward loyalty

Loyalty programs are still wildly popular among consumers and, as long as the rewards are real and attainable, are an effective way to ensure repeat business. In a recent Forrester Research study, as reported on Forbes.com, it was found that “72% of adults online belong to at least one loyalty program and those enrolled in loyalty programs report that they belong to nine, on average.”

Publicaciones relacionadas

Ilustración de una persona relajada en una silla, sosteniendo un teléfono inteligente y con los pies sobre un escritorio. Una pantalla de computadora muestra gráficos y notas adhesivas adheridas a su alrededor. La persona está rodeada de pilas de libros y parece tranquila.

Productividad impresionante… ¿o es falsa productividad?

Reading Time: 2:21 min

Productividad impresionante… ¿o es falsa productividad? Por Jessica Burns, 21 de octubre de 2024, Express Employment Professionals, Express Blog La productividad de los empleados, que es fundamental para impactar en…

View post
La imagen muestra el logotipo de Edward Jones, con "Edward" en letra minúscula serif y "Jones" en letra mayúscula serif en negrita, ambos en gris oscuro, sobre un fondo amarillo brillante. El diseño refleja sutilmente su compromiso de ayudar a los clientes a invertir de manera inteligente.

FINANCIAL FOCUS – Younger workers face financial gaps     

Reading Time: 3:18 min

FINANCIAL FOCUS – Younger workers face financial gaps      This article was written by Edward Jones for use by Janet Marshall your local Edward Jones Financial Advisor at 334-405-0786. If you’re…

View post
Infografía titulada "Lo que debe saber sobre la diabetes tipo 1.5". En ella se destaca que esta afección también se conoce como diabetes autoinmune latente en adultos (LADA). Presenta ilustraciones de tres personas, una de las cuales se destaca con "30 años", que representa el rango de edad típico afectado por la diabetes tipo 1.5.

La historia de Carlos: diabetes tipo 1.5 (LADA) (Honduras)

Reading Time: 5:46 min

La historia de Carlos: diabetes tipo 1.5 (LADA) (Honduras) Paciente: Carlos, 45 años Ubicación: Tegucigalpa, Honduras Tipo de diabetes: tipo 1.5 (diabetes autoinmune latente en adultos o LADA) Antecedentes: A…

View post