What are the 5 Key Drivers of Customer Loyalty?
Customer loyalty used to be driven by price and by geography. If you were the cheapest or most value for money, and the closest to the customer, you would usually get the sale. However, with the rise of online shopping, these metrics are not as important to customers. So, what are the key drivers of customer loyalty?
1. Putting Trust in your Brand
One of the most important factors of loyalty for customers is trust. If they feel they can trust your brand, then you are more likely to get a loyal customer.
Trust covers many factors:
- They want their details to be safe and secure
- Quality needs to be consistent and proportionate to the price
- They need to feel that they can trust recommending you to a friend
- Feel safe that their data won’t be abused
If you can build the trust of your customers in this way, then you will build a loyal customer base.
2. Special Perks Through a Loyalty Scheme
Many customers today want to have rewards to aim for. They want to know that they will receive special bonuses or rewards for purchases or being a loyal customer.
These customer loyalty solutions are used by many of the big companies. They reward customers that return more than once, and if the perks are well suited, then they can become popular.
3. Create Something Personal
If you are considering a loyalty program, then customers want to have deals and special offers that are more than just generic.
Less than 8% of consumers say that rewards are not important, and this is even lower if those rewards are personalized.
This means you need to look at the data from your loyalty program and your customers to try and provide a more personal experience.
4. A Brand They Can Identify With
The message that your company gives out to the world and its customers is becoming a big part of customer loyalty.
If your mission is similar to that of your customers, then they are more likely to remain loyal to your brand.
Many shoppers also want the rewards they are offered to have a positive social impact as well as be attractive to them personally.
Your brand cannot be everything to everyone, but if you have a core mission, then focus on that and customers will follow that mission.
5. Customer Support
There is no doubt that one of the biggest frustrations from customers is poor customer support.
Many will judge the company on how well they can answer questions and generally be helpful. Shoppers who receive a negative customer support experience will often never shop with that brand again.
Ensure that your customer support team is well trained and helpful. Also, give them the tools to make each customer feel valued.
And there you have it – the five key drivers of customer loyalty. Customer loyalty is something that needs to be earned in modern business. With so much choice now available to everyone, companies need to go that extra mile to create loyal customers.
