By Grace Nguyen
Last updated February 6, 2022
“I am faithful to Netflix as if it stops showing movies, I can do every way to support it to come back. I certainly will subscribe to it the second time and many times later. I consider myself a fan of Netflix because I believe that all of the movies they publish are of good quality and they will never let me down. On top of that, I am so attached to the brand that I can watch it through the night without feeling sleepy and I watch it very often, at least twice a week. If someone offers me a competitive brand, I’m still going to subscribe to Netflix.”
This is a typical pointer of a high customer perceived value, brand trust, customer satisfaction, repeating purchase behavior, and commitment to a business that we can all relate to, yet it is absolutely powerful and desirable for any business! All of these positive factors are the most important keys to unlock your brand loyalty in customers.
If you have brand loyalty in your hand, you are gaining tons of advantages that you might not know: standing out from the competitors, improving brand image and recognition, reducing costs for advertising, cross-selling, and gaining retention. It costs 5 times more to acquire new customers than retaining them while 50% of existing customers are more likely to try new lines of product from the brand they love and willing to spend 31% more than the new customers.
If you want to achieve this impressive milestone for your business, here are 5 ideas to generate or enhance brand loyalty.
Loyalty reward program is the most immediate effective customer retention strategy in which you give customers incentives whenever they return and continue using your products or services. Several examples of a loyalty program include members’ discounts, giveaways, exclusive events, birthday gifts, product launches. Not only does the loyalty program initiate repeating purchase, it also creates a sense of belonging for the customers. The consumers will feel that they belong to a community that share the same values as theirs, satisfying a major human need according to the Maslow’s hierarchy, thus enhancing the probability of commitment.
If your business offers real values and emphasizes on product quality, there is no way the consumers want to leave your business or look over to your competitors. As long as the needs and wants, interests and pain points of existing customers are satisfied and solved, they will keep supporting and believing in the brand they like. An orientation toward customer experience rather than sales (quality over quantity) is also a useful method to remind your customers how you appreciate and focus on them.
Personalized messages, gifts, instructions or recommendations create a sense of intimacy and consideration to your customers. Through personalization, customers hold a belief that they are the center of the operations. They feel that their needs are being well respected, listened to, and cared for, which encourages their satisfaction and triggers repeating purchases.
Communicating regularly is a common method to bond with your customers, resulting in more intimate relationships in the long run. An exceptional customer service that fosters mutual benefits and two-way communication will leave a deep mark inside your customers’ minds. Apart from customer service, social media, online community and email marketing are also effective tools to keep your consumers in the loop and become more relevant to them.
A consistent, familiar and clear image, personality, mission and values of a brand will help it to be well recognized and easier to gain trust and loyalty. Consumers nowadays are smart. They highly value authenticity and distrust brands that are inconsistent in their appearances. Thus, being consistent in your image should considerably improve brand trust and prolong your relationships with customers.
Among the 5 solutions above, loyalty reward system is the best marketing strategy for gaining retention and increasing brand loyalty. Why?
According to a KPMG survey, 50% of loyal customers are willing to do almost anything to earn more rewards in the loyalty program while 75% of all consumers want to switch brands just for a better loyalty program. This is probably the reason why 90% of companies currently adopt a kind of loyalty system to engage customers.
If you have a business that is not equipped with a profitable loyalty program, we guarantee that our service Pikapoint is the most efficient platform to solve your problems right now and make customers immediately come back for more.
Along with other utilities, the loyalty programs in Pikapoint are exclusively separated for each shop. Basically, a potential customer tries your service for the first time and earns points from your own business in the app. But the perks coming from that store can only go around and be redeemed in the exact same store, the customer feels this urge to return for more like love at first sight. Your store will also likely obtain effortless brand awareness and a diverse audience pool because Pikapoint’s users are mostly students, young professionals, and urban tech-savvy individuals.
We truly hope that you will join our family. Our main goal is to support small local businesses to reach their full potential. What are you waiting for? This is it. This is the first step, one step closer to growing loyalty from your own customer base.