>Are your customers not buying your products?
>Do you want to make your customers loyal to your brand?
"Brand loyalty and "customer loyalty " are the two strong points in any business. Today every big brand and small company is continuously creating brand loyalty to retain its customers. You need to have the customer's loyalty department whether you are running a small business or big retain your customers.
Now, the arise 'what is loyalty?
UNDERSTANDING LOYALTY
Loyalty is the bond between you and your customers. It is different from customer satisfaction. Customer satisfaction is more like a rating system , wherein your customer says" I am 10 out of 10 satisfied "But this doesn't mean that he is loyal to your brand. This is because a satisfied customer can move to next product or service on any day at any time.
FOR EXAMPLE
It is not necessary Apple mobile customer is satisfied with Apple mobile, but he is brand loyal and will never leave this brand. Harley -Davidson -customer won't like to switch from this brand to Hero Moto Corp. Thus, Loyalty is an emotion tool that can be built step by step. Every businessman can create brand loyalty. And their customers will never switch from their brand on condition.
LOYAL CUSTOMER IS YOUR PROMOTER!
A loyal customer starts spreading about your brand through' word ? of mouth ' marketing. In effect, he is not just your customer, but he becomes the promoter to your company and generally works as an unpaid salesman. If you can retain 5% of the existing customer then your profit will increase from 25% to 95 %.
Harvard Business School.
"Foundation of Loyalty is TRUST" where trust is more likelihood., Likeliness of business many folds.
1. Increase your brand equity.
2. Bring down your cost almost by 7 times.
3. Increase repeat and repurchase.
Now, Let's see how we can go on creating brand loyalty or customer loyalty step by step.
HOW TO CREATE BRAND LOYALTY?
#1: Point-Based Loyalty
By giving point on each shopping one can generate online conversion and in-shop experience. It will increase the "engagement of your customers with your brand "and they would like to redeem points on their next shopping.
For Example:
Amazon prime has become "king of Brand loyalty" Through impulsive shopping value for Money, Exclusive deals and free videos. Nowadays social media has emerged as a big platform to increase loyalty on Facebook, Likedin, YouTube, and Instagram.
#2:Customer Referral Program
If you have a platform where you can increase customer engagement then it will lead you more customers. In this customers becomes your partner in the customer acquisition process. You can give some benefits or perks to your existing customers for making new customers.
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