Customer Loyalty: How To Plan An Effective Strategy?January 10, 2020 by Jose Miguel Poveda.
With the rise of digital society, customer expectations have increased. They expect companies to be available at the time they require it and through the channel they prefer (virtual or physical). Now, more than ever, accompanying the entire customer relationship process with the company has become a priority.
As you know, getting new customers is essential for the development of any company, but retaining existing ones is critical for business stability and growth.
For that reason, customer loyalty is not just a necessity. It also means a competitive advantage to attract and retain buyers.
But What is Customer Loyalty?
Customer loyalty is a set of techniques and strategies that turn your buyers into regular customers.
Besides being cheaper selling to a current customer than a new one, customer loyalty creates a base of evangelists for your brand. These loyal customers recommend your products, provide you with the information you need and help boost your sales.
Companies often ignore customer churn because they are focused on attracting prospects. But the reality is overwhelming. The more customers you let go, the lower your income and earnings.
- Establish A Relationship Strategy
Close relationships with customers are crucial to any customer loyalty plan. For this reason, you must know the most relevant information of your customers: their preferences, important dates for your company, product launches, among others.
With this information you can create a relationship strategy and be present at important moments for your customers.
- Segment Your Customers
Cluster your customers according to their preferences, their purchase orders, or the visits on your website.
Based on that segmentation, you can create predictive models and recommendation systems to make suggestions such as the following:
- Proper use of current products
- Content that is valuable for each segment
- Launch of new products that are relevant to each user group.
- Integrate Your Customer Data
If you wait for a client to leave to start acting, it will be too late. Consequently, you must take action in advance.
To do this, you can analyze the data of your customers and draw up a plan that helps improve their experience. Consequently, you must centralize your information.
A customer loyalty strategy begins by integrating current services, inventory management, billing, logistics, order management, and even search or purchase history on a single platform.
By integrating the processes and functionalities of the different departments of your company, each area can access the same information to make better decisions based on data.
With this global and real-time view of your customers’ information, you can proactively solve problems and make constant improvements to prevent customer churn.
- Update Your Customers’ Information In Real-time
There is nothing that affects both customer loyalty and errors in any moment of truth (sales, after-sales, support, billing, etc.).
Therefore, it is necessary to update your customers’ information in real-time. By doing this, each person in your company who interacts with a client could use it to improve customer service.
- Connect Your Points of Sale
The next thing you should do is connect your sites of interest. Consequently, you’ll be sure that your data will be available all the time to the customer service department.
By connecting your offices, you avoid friction in the interaction with your users. In case you open a new point of sale, you have the connection to give customer service without interruptions or delays.
If you follow these steps, the interaction of your customers with your brand will be effective and satisfying. At the same time, this will impact the perception of the services and products you offer.