Buy more
When you’ve already got a customer who trusts your brand, this is a chance to offer related products or services. Your existing customer base is primed to buy more.
Going beyond transactions to create lasting bonds with customers
In our April installment of our Behind the Sign webinar series, we explored the topic of customer loyalty with small business expert Carol Roth. She shared her framework for moving beyond traditional loyalty programs, emphasizing the importance of connection and care to sustain business growth. Here are some of the key takeaways from the session.
Customer loyalty needs to be at the core of what you do.
Understanding the customer loyalty landscape
Roth described the opportunity for businesses as well as the challenges ahead. She highlighted how businesses should place customer loyalty at the core of their marketing and sales approaches, as loyal customers tend to not only purchase more but also act as promoters on social media and in their communities.
She outlined how loyal customers:
Tell others
This is especially the case with social media. It’s a way to break through the noise when you have someone spreading the word about how your brand met their needs.
Advertise
Packaging, decals, a sticker on a laptop – if customers love your business, they will advertise for you.
Volunteer
Some loyal customers see themselves as stakeholders. They’re willing to continue the post-purchase relationship by volunteering, sharing feedback, and filling out customer surveys.
These outcomes also come with a modern-day challenge:
It is easier to reach customers than ever before.
But that means for everyone it is easier to reach customers than ever before.
In other words, customers are overwhelmed with old-school, relationship-building tactics. But if you already have a base of customers to work from, this is a chance to sidestep “the overwhelm” by focusing on five pillars of customer loyalty.
The five pillars of customer loyalty
The meat of the webinar focused on Roth’s framework for the five pillars of customer loyalty:
1. Outstanding products and services
Before any fancy loyalty program comes into play, businesses must ensure they're offering top-notch products and services. Are your products and services meeting customers’ needs? Is there another competitor coming up that can out-compete your brand? Be the best at what you do.
2. Exceptional customer service
Taking it a step further, businesses that offer exceptional service become go-to options. Roth shared stories of renowned customer-oriented businesses to demonstrate how going above and beyond in service can carve out a loyal customer base.
3. Community and affinity groups
Creating a sense of belonging is pivotal. When you foster a sense of community through shared experiences, this creates a strong desire to be loyal to a brand.
4. Memorable experiences
The power of branding and experiences cannot be overstated. When people associate their experience with your products, your logo, your messaging – this connection keeps them coming back.
5. The bridge
Roth stressed the significance of personal connections. It's the personalized gestures, not the transactional rewards, that foster deep loyalty. She recounted how a hotel's customized setup based on her preferences won her over. That attention shows customers that their needs are truly cared for.
Final thoughts
In a world cluttered with marketing noise, true customer loyalty can determine success for businesses. In her Q&A follow-up, she also addressed how data on customer behavior can help for decision-making and personalization. As Carol Roth’s insightful webinar showed us, the main driver in building loyalty is in delivering exceptional value that resonates with customers.
The future of customer loyalty is about creating the bridges between the products and services that you provide and the customers that you are talking to.
BBB Great West + Pacific
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