There’s no doubt that loyal customers are a valuable asset for any company. The old adage that loyal customers are repeat customers is very true. So, how do you build a loyal customer base? We aim to answer that question in this article, so read on to learn more.
Our Tips on Ways to Build a Loyal Customer Base
Building a loyal customer base takes time and effort, but it’s well worth it in the long run. By delivering an exceptional customer experience and showing your appreciation for your customers’ loyalty, you can create a loyal following that will continue to support your business for years to come. But what are the exact steps a company can take to build a loyal customer base? To answer that question, here are our tips on how to create a loyal customer base.
Provide an Excellent Customer Experience
We’re leading our list with customer experience because we feel this is a big component of building customer loyalty. People want a positive experience from their purchases. They crave it. But they don’t get as many good experiences from businesses as they would like. If you can provide your customers with a good experience, whether in the form of a stand-out product or an exceptional service, your customers will love you for it. There have been many business books written on this subject, but a distilled version of what those books have to say is make sure your customers have a good experience and you will be well on your way to having loyal customers.
Be Consistent with Your Values
A lot of companies give a lot of lip service to their values. We see it on social media all the time – companies touting their virtues without actions to back them up. Customers notice these kinds of inconsistencies, and companies lose trust and loyalty because of it. But customers also notice when a company is consistent with its values, and they respond in the best way possible – by giving their loyalty.
Be Trustable
In human relationships, people are loyal to individuals they trust. The same is true for establishing loyal customers. Customers that trust a company are often loyal to that company. The question then become how to establish trust? A company can establish trust by being transparent, honest and always put the customers first. When customers trust you, they will reward that trust with repeat business.
Show that You Value Your Customers
Give thanks to the customers that are loyal to you. You can do this with simple thank you emails or by following up with a customer after a transaction to make sure they are happy. Other popular ways to show that you value your customers are by implementing a loyalty rewards program or offering discounts. Just these small acts of giving back to your customers can go a long way in creating loyalty.
Be Detail Oriented
It’s the little things that sometimes matter most. Being detail oriented sends the message to your customers that you are looking out for their best interests. Be thorough in all dealings with customers by making sure every single aspect of their purchase is quality. By being detail oriented, you’ll show your customers that you’re invested in their satisfaction and that you care about building a long-term relationship with them.
Ask for Feedback and Act on it
It isn’t enough to just ask for feedback. You have to also show your customers that you take their feedback seriously. We know of a supermarket with a suggestion box and next to the suggestion box is a bulletin board where customer suggestions are posted with responses from the manager. They often bring in new products based on customer suggestions. It’s a very popular supermarket with lots of loyal customers. How you go about receiving and acting on feedback is up to you, but it can be an important step in creating loyal customers.
Get More Advice on How to Create a Loyal Customer Base
Building a loyal customer base isn’t hard. It just takes time, effort and a bit of creativity. Taggart & Partners are a business advisory firm and we specialise is providing advice to small and medium sized businesses related to business growth, customer loyalty and customer retention. If you’d like to discuss ways you can establish customer loyalty, get in touch with a member of our business growth advisor team. You can call us on (07) 3391 1188, email us at enquiries@taggartandpartners.com.au or get in touch online. We look forward to working with you.