What loyalty strategies can I apply to my company?
Achieving customer loyalty is perhaps one of the main objectives of any company today. Meeting this objective, however, requires a marketing and sales strategy that brings together all aspects of interaction and relationship with the customer to build an exceptional service unit. This, in the long term, generates a relationship with the end-consumer, drives revenue, and improves brand's reputation.. According to a Harvard Business Review study, increasing customer retention rates by 5% increases sales by up to 95%.
To achieve customer retention, it is necessary to understand customer behaviors based on data analysis yielding important information on tastes, trends, and buying habits. This allows for adaption to the customer's perspective to reduce churn rates, maximize ROI, and generate a loyal audience.
What strategies can be generated to increase sales?
A relationship of trust will be vital for creating an exclusive experience and improving customer service. In this regard, social networks play a fundamental role, as they become the main channel for interaction, allowing for the dissemination of everything from brand identity to communications of general interest.
On the other hand, empathy with social actions, the environment, and communities, in addition to being a duty that organizations have, is currently one of the decisive aspects for capturing the customer's attention and increasing growth rates.This is why brands must be aligned with their institutional values and create ESG strategies that allow them, in addition to contributing to society and the planet, to demonstrate to customers their commitment to actions that are important to them.
Likewise, agent training should be focused on delivering the brand identity at every point of contact and offering exceptional service and an unparalleled experience. It is important that they are aligned with actions associated with diversity, equity, or sustainability, as they are fundamental parts of the business strategy and can increase sales. Creating a culture of institutional transparency with customers involves them in your actions. It makes them feel part of a brand community, strengthening their loyalty relationship and contributing to the customer experience. According to Zendesk's 2021 Trends Report, 75% of customers are willing to spend more on companies that offer them a good customer experience.
Five targeted strategies to increase your sales through customer loyalty
- Identify your customers' expectations:
You must be aware of your desires and interests to guide them towards products or services that are more aligned for them.
- Find out the reason for discontinuation:
Long waiting times, unfriendliness, platform failures, and communication difficulties are the main reasons why a customer decides to abandon a purchase.
- Provide a customer experience:
Generate memorable moments during the purchasing Journey. Likewise, try to facilitate the process and update the development of the experience following current trends.
- Customize interactions:
Show the brand's interest in getting to know its customers, make their assistance an exceptional service that includes elements of the user's personality. Also try to unify customer service channels and generate an omnichannel approach to avoid customer attrition.
- Provide exclusive benefits:
Reward the loyalty of your customers and show them your appreciation using incentives or recognitions that invite them to return. This aspect motivates the user emotionally and generates a status in the brand atmosphere.
Generating customer loyalty requires constantly updating methods and strategies. That is why being aware of customer expectations and society's trends will be decisive to reach your objective and increase sales.
At Atento we generate loyalty through our CX consulting. Here, we perform a complete mapping of the entire Journey of the end customer relationship and define processes to develop a better and more optimized brand experience, maximizing retention, resolution, conversion into sales, and a complete vision of the users of a brand. We also drive predictive analytics, triggering proactive interactions with customers and using integrated multi-channels to provide a better experience, focused on avoiding the risk of churn and maintaining a long-term relationship.