Business

Customer Loyalty

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With the Retail industry in recovery, building customer loyalty has never been so important. With money still tight, building customer loyalty is the only proven way to compete with rivals without having to forfeit revenue.
Loyalty to a business or brand results in customers willing to put up with a less-attractive location or a higher price, but still wanting the particular experience encountered before.

Gathering constant customer feedback to make sure the needs of the customer are being met will ensure loyalty remains strong. Loyalty programmes can be developed from this feedback, which is important, but there does seem to be a trend to suggest that these programmes are now failing to deliver.

The key is to reward customers with something that they want and will value. Make the most of the data gathered from customers as not all of them will attach the same value levels to services, experiences and offers as some do. Loyalty programmes have to be flexible, offering choice of the right deals to the right customers in order to maximise the greatest value.

Rigid loyalty programmes have got to be a thing of the past and should instead be tailored towards allowing customers to choose from a broad range of reward options, gearing it to individual preferences, permitting flexible redemption intervals and maintaining a unique selling point the differs from that of the competition.

“Loyalty can only be improved if it is set as a priority by the most senior people in the business and then actively promoted, measured and managed”
“Leaders must send out a clear message to staff and customers that they are committed to building customer loyalty.
If a business constantly works to measure, communicate and improve the customer experience, always including staff as much as possible through regular feedback session, then they have a great chance of driving loyalty and building their business.”

So perhaps a move towards transforming loyal customers into advocates is the way to move forward to secure success. This should be the aim for all businesses it is the most effective type of marketing and can drive unparalleled value into your business.

Written by Andi Deeks

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