Every company dreams of a loyal customer fanbase—so how do you build customer loyalty? And how do you stand out from the crowd?
The California Gold Rush of 1948 brought thousands of miners to the state seeking fortune after James W. Marshall discovered gold flakes in Sutter's Mill. There was plenty of gold to go around—the prospectors just had to mine it.
And like those prospectors, brands today have access to their own gold rushes. The difference? Your gold rush comes from customers—specifically, loyal customers who:
So, how do you stay on top of the gold rush loyal customers bring with them? Build genuine and lasting relationships with your customers that inspires long-term loyalty.
And the best way to do this is to make your customers happy. Simple, right? Well, not necessarily. Customer happiness isn't something to be achieved, rather, something to be cultivated.
Here are a few ways you can do that:
Loyal customers give you some stability in the form of monthly or annual recurring revenue. But they also:
And that's on top of the financial benefits they provide, like the 52% who go out of their way to purchase from brands that have their loyalty. Or the 43% who pay more for the products or services from the brands they love.
There are countless benefits to customer loyalty, but perhaps the most obvious and simplest is simply that: their loyalty. Your most loyal customers are often aware of your competitors and that they can get comparable products for less.
But they're still choosing you. That's invaluable.
So, you know your best chance at building a loyal customer fanbase is to make—and keep—your customers happy. But we're breaking it down even further into five actionable tips to help you quickly increase trust and loyalty among your existing customers.
You can assume what your customers think about your product, service, or brand. Or... you can talk directly with your customers to get rid of assumptions and start building authentic relationships with them.
Not only does clear and consistent communication show customers you value them and what they have to say, but it also gives you a wealth of information that can make you (your brand, your product) better.
Here's the catch: if you make it challenging for customers to share feedback with you or they have to submit tickets to even get in touch with you, they simply won't communicate with you.
Do this instead:
There's a reason salespeople can make high commissions on every deal they close. New customers are invaluable. They bring in more revenue, and, if you do everything right, they might refer other customers your way and become loyal customers themselves.
But don't get distracted by the shiny new customers. Yes, you need to support and nurture them. You should roll out the red carpet to ensure customer satisfaction from the get-go. But that doesn't mean you should just put your loyal customers on autopilot.
Customers who stand by you should be rewarded. Instead of giving your new customers all the best deals and special offers, treat your loyal customers like the VIPs they are and spoil them, too:
Show loyal customers that it's worth it to remain loyal by letting them know you still value them and their continued business. A little appreciation goes a long way toward sustained loyalty.
"You get what you pay for!" We all expect a cheap McDonald's meal to be greasy and lower quality than a steak from a 4-star restaurant because... you get what you pay for.
But, no matter how affordable your product is, customers expect superior service. Always.
Giving customers what they ask for is no longer a sign of good service or something to brag about—it's the new baseline. And if you give customers only what they ask for? You can lose customers fast.
We have higher expectations these days, and, as a company, you'll need to go above and beyond to measure up against your competitors and have any chance at customer loyalty.
A few ways to do that:
These can all help you prioritize customers and deliver the service they expect and beyond.
Who doesn't love praise and positive feedback? We enjoy when our customers tell us how much they enjoy our product. Or when their customer satisfaction scores are through the roof.
But taking in negative feedback? Not so easy. While criticism and angry customers can be challenging to navigate, the best companies embrace this feedback and use it to fuel everything from creating a more tailored customer journey to a smoother customer service process.
You should too.
And remember, even if you're dealing with a tough customer, keeping your cool and providing quality service creates a lasting impression that could potentially turn things around.
When customers see that you're willing to work with them—even when they're unhappy—they see that you will go above and beyond to make things right... which builds loyalty, too.
Pro tip: Actively seek criticism and take it as a chance to win back a customer.
Whether it's communication or seeking feedback, being proactive is the best way to create an open, honest relationship with your customers (which plays into customer loyalty). We've got a few suggestions on how you can seek out feedback from customers:
While feedback from any customer can be valuable, keep in mind that a single customer doesn't speak for all. Don't make the mistake so many brands make: believing that a few happy or high-profile customers speak for all your customers.
Send a voice of the customer survey to a large sample of customers to gather data about customer sentiment, your product, your brand, and more. Once the results are in, do something with the data. Customers took time to tell you how they felt. The least you can do is implement the feedback you're seeing over and over.
Customer loyalty is all about the customer, right? Wrong. Sure, some customers may be loyal solely because they think you've created the greatest product on planet Earth. But those are few and far between.
Your most loyal customers don't always start out that way. They became loyal because you have a great product or service they love. You ask for their genuine feedback and make changes based on that feedback. Your customer success and support teams do everything to help them achieve their business objectives.
That is where customer loyalty begins... with you. So, start with you and watch as you create your own gold rush, one customer at a time.
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