How to Earn Your Customers’ Loyalty
It doesn’t matter whether it is large or small – every business wants their customers to be loyal to them.
But how many of them are willing to do what it takes? It’s a different issue altogether.
Often business owners forget that behind the computer screen is a prospect who thinks he or she deserves all the attention in the world. And, if you don’t provide it, there is no sense in expecting loyalty when you’re not ready to take the leap.
There is way too much competition out there and loyalty doesn’t come cheap. You have to work hard to earn it.
Below are some tips through which you can earn the loyalty of your customers and hopefully maintain it.
Stand For Something
Simon Sinek while explaining ‘The Golden Circle’ says, ‘People don’t buy what you do, they buy why you do it’.
People are not loyal to the companies – instead they’re loyal to what the company stands for.
While launching the Mackintosh, Steve Jobs didn’t say ‘We are launching a calculating machine that will simplify your job’. He said, ‘We’re launching a revolutionary product that will change people’s lives’.
Now tell me. Who can resist such a powerful ideology?
Today, Apple and its products are renowned for their innovation, simplicity and perfection.
Likewise, every successful company STANDS FOR SOMETHING.
That’s what you as a business owner need to strive for.
So the question arises: How do you find what your brand stands for?
To help you figure out, below are some questions that you should ask yourself:
What do you do? Every single company on the planet knows what they do. If you’re an advertising agency, you help businesses make more money; if you run a pet supplies store, you help people keep their pets clean and healthy; if you offer a CRM solution, you help companies organize and manage their customer relationships. To find what your brand stands for, you need to figure out what your brand’s mission is, first.
How do you do it? How are you different from your competitors? What differentiates your brand? What’s your USP?
Why do you do it? This is the most important question. And it’s not about profit – it’s a by-product.
Why do you do what you do? What’s your purpose? Why does your brand EXIST in the first place? Once you get the answers to the questions, you’ll find know what your company stands for.
Evoke the Desire for Belonging
Why do you think people buy an Audi?
Do you think it’s because it has an amazing hydraulic suspension system, a premium paint job, or due its leather seats?
Multiple car companies offer very competitive features. So why people spend thousands of extra dollars to buy something that’s just slightly better than other cars?
It’s quite simple. They want status.
Often people do crazy things to maintain their status – and get into an exclusive club of some sort.
This behavior of displaying wealth to acquire or maintain status and prestige is called Conspicuous Consumption.
You might be thinking: How can I apply this into my business?”
By labeling your audience, so that you’re able to trigger this strange, yet powerful desire and use it to your advantage.
Here’s what I mean:
A study reveals that people like being labeled as long as it gives them some kind of a superior characteristic.
A random survey by Volvo discovered that its customer base had one of the highest educational levels within the car manufacturing industry. Capitalizing on it, they immediately publicized the fact.
A few years later, when Volvo conducted the same survey, the percentage had increased.
This happened because other highly educated people wanted to be part of the “smart Volvo owners” group.
See the pattern?
People like being labeled and, as your task as a marketer is to awaken that inner desire of belonging in your audience.
If you do it successfully, people will remain loyal to you for a long time.
Keep It Simple
Nobody likes complicated stuff. Period.
Below are two facts that echo the importance of simplicity.
81% of consumers acknowledge that it is frustrating dealing with a company that does not make it easy to do business with them.
According to Harvard Business Review, 86% of potential buyers will make a purchase with brands that simplify the customer journey.
Unfortunately, most companies in the hopes of “impressing” their audience, complicate everything by using fancy verbiage, complicated business concepts, and even tricky products.
On the other hand, savvier brands ALWAYS simplify the path.
Always remember, nobody complains if your brand, product, or the buying process is too simple. Vice versa is mostly true.
You must’ve come across this stat: it costs five times more to acquire a customer than to retain one.
Loyalty pays. And you need to figure out the best way to get it from your customers.: