Discover all the benefits of loyalty in business success! Getting new customers is just the first step in marketing. Once you have gotten the user to become your client, you must convince them to bet on your brand in the long term, making repeated purchases and recommending your company. This is what is known as loyalty.
En GumsUp, we have a platform specialized in building customer loyalty for a brand, so that entrepreneurs obtain increasingly better results. On this occasion, we are going to explain to you what the benefits of loyalty in business success.
What are the benefits of loyalty in business success?
Loyalty strategies can help you obtain many benefits in your company and make it possible for you to build a stable portfolio May it give you security in both good and bad times. These are the main benefits of loyalty in business success:
Your profits will increase
One of the main benefits of loyalty in business success is that loyal customers they spend more on their purchases and they are likely to purchase the additional services before anyone else.
Word of mouth
Happy customers will always defend your brand and they will promote you naturally between friends, co-workers and family.
Reduce costs
Another benefit of loyalty in business success is that marketing campaigns are very expensive, so keeping existing customers It is more profitable in the long term.
honest opinions
Customers committed to your brand will give you honest opinions that will help you improve your products or services.
Resist your competition
And finally, another of the benefits of loyalty in business success is that loyal customers do not allow themselves to be attracted by the competition, so your customer base will be protected.
Importance of customer loyalty in the growth of your business
Most successful companies say that customers who are part of their loyalty programs tend to spend more money per year than those who are not. In addition, many consumers say that they prefer to spend more on their trusted brand, rather than trying new products.
Despite this evidence, only a small fraction of companies actually put their Focus on retaining existing customers. Most users highly value the possibility of obtaining rewards as part of their shopping experience. Discover the best customer loyalty programs.
Create a loyal customer base: Effective strategies and techniques
Now that you have known the benefits of loyalty in business success, it is important that you have good customers. To create a loyal customer base you must take into account some strategies and put them into practice in a personalized way so that they fit with the sector you are dedicated to:
- Loyalty programs: These rewards programs for your customers can offer discounts, gifts, or exclusive access to events.
- Personalized customer service: You must treat your clients in a unique way, knowing their preferences and needs to offer them a personalized service.
- Ask for feedback from your clients: Ask for feedback on your services and use this feedback to constantly improve your products.
- Product quality: Of course, what will make a customer stay with your company is if you offer a quality product that meets their needs.
- Maintain active communication: You can do it through social networks, emails, magazines, special events, etc.
We recommend that you know the loyalty trends that are succeeding today.
Customer loyalty vs. new customer acquisition: which is more profitable?
Let's talk about real statistics. Attracting new customers to your company is going to cost you 6 or 7 times more than keeping your customers. You just need to think about the prices of the campaigns.
Furthermore, companies that have dedicated their efforts to customer retention have increased their profits more than when they have acquired new clients. There are also 3 indicators that will help you understand why building loyalty is more profitable than acquiring new customers:
- It is easier to convince a current client than a new one.
- 70% of new customers buy on the recommendation of existing customers.
- If your customer is satisfied with the product and the attention they receive, it will be very difficult to lose them.
How to build lasting relationships with your clients: practical tips
Now you know the benefits of loyalty in business success and some strategies that will help you make your customers stay with you. However, not everything consists of the product or services they offer, but customers wantn create a lasting relationship with you. Here are some tips that can help you:
- Offers confidence: Honesty is the key to any human relationship if you want it to last a long time. So, present your products with transparency, highlighting their benefits but without hiding their limitations. In this other post we discover the best strategies to regain the trust of your customers.
- Constant comunication: Don't bombard your customer with information, but make sure they are aware of innovations in your business. Also, answer all their questions as quickly as possible.
- Understand your customers: Understanding your customers' interests will allow you to have conversations on a deeper level and cultivate a good relationship. The small details shared are what matter.
- Offer them the benefits they need: Not all clients are the same. Some value the quality of the service, others the price, others the speed, others the commitment. Try to give each of them what is important to them.
Loyalty in the digital age: leveraging technology to improve customer retention
In the past, building loyalty was carried out in establishments, talking to people and worrying about their problems. But in the digital age in which we live, things have changed a lot and it is crucial Leverage technology to improve customer retention.
En GumsUp, we wanted to focus fully on this sector. Therefore, we offer a free demo of our software, so you can see how we work and the strategies we propose to grow your company.
Through our platform, Your customers will be able to receive rewards, keep an eye on promotions and know everything about your brand. Meanwhile, you will be winning satisfied and committed customers with your company, who will not hesitate to consume your products and recommend them to the people around you.
Enter our website and discover the platform that we propose to you in GumsUp to retain your customers. Take steps forward on this path to achieve business success.
