It’s no secret that loyal and happy customers are essential to any business’s success. However, precious few companies are implementing strategies to improve their client relations and boost customer satisfaction. In today’s blog, we’ll cover the five essential strategies for building enduring relationships with your customers.
A Strong Mission
As discussed in our “Five Traits of Successful Brands” post, a strong business mission is the cornerstone of any successful brand. It’s particularly important when it comes to building a community around your business. If your company has a meaningful purpose, there is likely a group of like-minded people who will want to shop with and promote your business simply because you share their values.
While this may seem like an abstract benefit, there is data to prove its worth. When a client feels an emotional connection to a brand, they have a 306% higher lifetime value to your business, and 64% of customers say shared values improve their relationship with a brand.
Be careful: once you set your mission, stand by it. By making on-brand decisions and maintaining consistent brand presentation, consumers will begin to see your business as a force of good in the world. When you maintain an active and consistent brand voice, your company becomes far more memorable, trustworthy and influential.
Data supports this claim, as it takes an average of 5-7 impressions for people to remember your brand, and 24.5% of respondents agree that off-brand content creates confusion in the market. Remember, people may build functional relationships with companies, but they develop stronger relationships with personalities.
Rewarding loyal customers may seem like an afterthought for most businesses, but it shouldn’t be. When you offer gifts, selective promotions and loyalty programs, you lay down the foundation for a fruitful ongoing client relationship. 90% of consumers say that a gift with a purchase increases brand loyalty. In another survey, 79% of consumers said that loyalty programs make them more likely to continue doing business with brands.
Most importantly, these rewards should be personalized whenever possible: 54% of consumers will share personal info with a brand if it creates a personalized experience. We recommend using customer personas when personalizing gifts.
Here are some more useful statistics:
- 86% of companies with a higher ROI last year said personalization strategies accounted for over 20% of their budgets.
- 55% of millennials indicated that they prefer when companies offer unexpected rewards rather than points programs.
- The top marketing tactic for companies in 2019 was rewarding loyal customers.
- 73% of consumers are more likely to recommend brands with good loyalty programs.
The age-old practice of rewarding customers, even if it involves a steep initial expense, has proven to be highly effective across several industries.
As we discussed in last week’s “Discovering Opportunities to Educate Your Customers” post, education is a critical element of any modern marketing strategy. Producing educational content is an easy way to generate leads, form positive relationships with those leads and keep them happy. Read the previous blog for an ample set of statistics and advice regarding creating educational content.
Integrate with the Community
When you find your tribe of similar businesses and audiences, it’s essential to take immediate steps to engage with the existing community. Partnering with other companies often increases brand recognition in the shared market and doing so demonstrates your legitimacy to the loyal customers of the other businesses. These other businesses should not be competitors, but brands that can combine with yours to offer added benefits to the community.
By participating in community and trade events, creating personal connections with community members and offering unique input, your business will quickly reap the benefits of being ingratiated with an active community. After all, 63% of customers say that companies should make a top priority of getting to know them personally.
Social media provides an unbeatable avenue for communicating directly with customers. 90% of social media users have already used social media to communicate with a brand or business. In fact, almost 2/3rds of customers expect companies to offer customer service through their social media channels, too. Do you have a dedicated social media support and engagement team? If not, you are missing out on crucial opportunities to reinforce your brand and deepen your relationships with your customers.
Most of these steps revolve around some key traits: they are opportunities to offer value, bolster brand values and effectively form personal relationships with consumers. Can you think of any other possibilities? Let us know in the comments!