Updated: Mar 17
If you have been following along for the past few months, we have discussed at length the topic of loyalty. But, what does it mean to be loyal?
In many cases, businessmen believe loyalty is one-sided. A company does work with your company and keeps coming back for your stellar performance, right? However, this is not how loyalty works— loyalty requires effort on both parts. If your customer feels appreciated, then they will likely work with you more in the future. Moreover, this is one of the most economical business decisions a company can make, especially given that retaining a client is cheaper than acquiring one. Loyal customers are more likely to spend more money on your products or services. Follow along for tips on how you can show your loyalty to your clients!
1) Increase trust.
Customer loyalty revolves around trust. If your client cannot trust you, then they will not continue doing business with you and look elsewhere. Be transparent with your client about what your company is capable of— if you overpromise and under-deliver, your relationship may become
antagonistic. This could harm future business, as people are likely to complain to their colleagues, friends, and family about negative experiences. However, if you are realistic in what you can achieve, are available to help with your client’s business needs, and understand your client’s goals, their trust in you will increase. This means more business and more referrals, which is one of the best ways to grow your company.
2) Be generous. Consider developing a loyalty program for your clients. Do not offer negligible discounts on your products or services, but instead gift free trials of an upgraded service or promotion of your client’s business. You want your clients to realize that they are more than a number to you— if you can achieve that, then loyalty will follow in no time.
3) Be gracious.
The beauty about business is that consumers have options. However, this may not be great news for a business owner. Chances are, your competition is trying to “woo” your clients while they are still doing business with you! This is why you can never underestimate the power of saying “thank you.” If you sincerely thank your clients for doing business with you, such as by sending them a letter or gift card, they will feel more valued by you than your competitors and will continue working with you.
People love honesty. Make sure you are communicating any updates, changes, or developments to your clients about your business or their business. This could include changing a supplier, updating your hours, or a notification of an employee leaving. Also, be available on your cell phone or work phone to address any concerns your clients may have. By demonstrating you can “show up” for your clients, they will mutually reward you with your business, positive interactions, and even forgiveness when needed.
5) Improve your services.
Your clients’ needs are ever-changing. Because of this, you need to stay informed on their industries and needs; your clients need to know you are not only prioritizing them but are also going the extra mile to understand their competition. You can also utilize more technology in your business to ensure those menial tasks are handled in the most efficient way. Instead of having an employee dedicate an hour to entering data, AI could allow them to study your client’s industry. This may be time-consuming and expensive, but if you can show your loyalty to your clients, they will show loyalty to you.
How do you show loyalty to your customers? Comment down below! Afterward, follow us on Linkedin at “Encompass-CX” for more blogs and other updates.
Co-written by Alexis Audeh