Did you know that it costs five times more to acquire new customers than it takes to retain existing ones? Building customer loyalty is one of the best ways to improve retention, but that’s not all it does; it also introduces new customers through word-of-mouth recommendations. Today, we’ll share five ways to build customer loyalty for your online business.
1. Make Customer Service a Priority
Customer service is necessary to improve customer loyalty. In more ways than one, it is the face of your brand. Social media, ads, and other marketing collaterals speak to your culture, but it’s your customer service that interacts directly with customers. Making customer service will drive more returns for your business.
The results of a study conducted by Hubspot drive this point home; it was found that 93% of customers are likely to make repeat purchases with companies that offer excellent customer service.
2. Offer Exclusive Perks to Foster Loyalty
Special offers, discounts, and perks are perfect for building customer connections. Each positive moment you create, ends with a happy customer. And that’s good because happy customers are more likely to return, which increases their lifetime value to your business.
3. Take Quick Action in Your Customer Interactions
Many businesses underestimate the importance of quick action, especially when addressing customer concerns or inquiries. However, 21st-century consumers are sensitive; they like to know that their concerns or needs are being heard and addressed.
Data from Sprout index shows that 30% of consumers will buy from a competitor if responses from their desired brands are slow. So next time a customer sends you a message, remember to respond promptly because there’s another competitor ready to take up that same opportunity.
Take advantage of Carousell’s Quick and Auto Reply feature to create a list of responses to the most frequently asked questions so that your customers never feel neglected.
4. Offer Incentives in Exchange for Reviews
It goes without saying that much of new business dealings made are generated from word-of-mouth recommendations. It’s taken on new forms, one of them, and the most important, being customer reviews. To a business, time is valuable, and the same holds true for consumers. So it helps to offer an incentive to leave a review. Not only will this reinforce the loyalty of other customers but also encourage new customers to try your product or service.
5. Be Honest and Show Integrity in Your Dealings
Honesty and integrity are cornerstones of trust. As humans, we are inclined to be loyal to the people we trust. The same principles apply in business. By being honest and fair in your dealings, your customers will be motivated to return. More than that, they’ll act as brand advocates, spreading positive word-of-mouth referrals.
We hope some of the tips shared above will help you set the foundations for stronger customer loyalty. Carousell has a variety of features to help you get started. Our chat function, for example, can help you forge strong connections with customers.
In addition, for every customer that interacts with your Carousell store, whether it be through likes, follows, or inquiries, you’ll get notified. Register for an account and start building a loyal customer base. For more tips and tricks on how to grow your business, check out our insights section.