To help you make the most of your resources and ensure that customers continue to buy your products or services, we have prepared this article with business loyalty strategies and techniques for you.
Shall we begin?
What is loyalty?
In the business world, the concept of loyalty refers to a company's ability to retain customers who buy its products and services. Achieving this is important to ensure the financial zambia email list
stability of the organization, reduce the costs of acquiring new customers and consolidate the reputation in the market.
Why is corporate loyalty important?
Because attracting new customers is more expensive
According to an article published in the Huffington Post , attracting a new customer is up to 7 times more expensive than retaining an existing one. This is because you need to invest more money in marketing to identify potential customers and convince them that you are the best option.
How about finding out how much you spend on acquisition before moving on to loyalty tools? Read: What is CAC and why is it important?
Because it affects your reputation in the market
According to research conducted by Dimensional Research , 9 out of 10 customers are influenced by other people's opinions when purchasing a product. Managing customer retention methods well allows you to increase customer satisfaction and encourage positive feedback about your brand.
If you want to improve business loyalty, we recommend reading: What is the importance of customer opinions and how can we find out about them?
Because it boosts your profits
A recent study found that 75% of consumers are more likely to buy from a company that knows their name and purchase history and recommends products based on their preferences.
The good news is that most customer retention strategies allow you to monitor consumer habits , identify trends, and act accordingly.
Do you want to improve your business loyalty strategy through personalization? Read: Personalization Trend: 5 Key Facts for Success .
5 customer service tools
When we talk about loyalty tools related to technical support , agility and precision are essential.
In fact, Zendesk’s CX Trends 2023 Report revealed that 7 in 10 customers expect immediate service.
So, if you want to streamline the work of your support team and improve the assistance you provide to people, you need some allies by your side.
1. Email
54 % of customers usually resolve issues with companies via email . Whether it's because they can communicate asynchronously or because they feel more secure on this channel, the fact is that they use it and you need to be there.
In addition to support, email is a great channel for converting leads . A recent study revealed that for every dollar spent on an email marketing campaign, you can expect up to 42 times more return on investment ( ROI ).
If you want to include email among your loyalty tools, we recommend reading: How to sell by email and convert more customers?
2. Phone calls
Despite the acceleration of digital transformation , the phone remains the preferred channel for customers . According to research by Zendesk , 79% of customers usually resolve problems with companies through this means.
However, if you want to include phone calls in your customer retention methods, you need to invest in telephone etiquette and response agility.
