Customer loyalty is something every business wants but many fail to obtain. They’re good at getting new people through the door, but not so good at keeping them from walking out again. Customer loyalty used to be a commodity that wasn’t all that hard to find. People shopped at the same stores and bought the same brands they always did. But with the explosion of competition and the shopping choices today’s consumer has, shoppers aren’t so quick to stay – which makes finding a loyal customer, rather hard to do.
Savvy businesses are quick to recognize that fact. They realize that their loyal customers are probably there by choice, not because they didn’t have other options; and they’re quick to thank them offering their loyal customers a little something extra – something like:
- Rewards – A reward is a broad, all-encompassing way to provide something extra for a customer’s loyalty. It can take any number of forms, such as a program that provides a discount for spending a certain amount of money or maybe a cashback bonus, the amount of which depends on the customer’s spending habits. Both approaches are common. Other ways can include offering a related product or service at a reduced price, like a free oil change with a tune-up and brake service.
- Exclusives – Exclusive services and opportunities are a good way to make your most loyal customers feel appreciated; after all, everyone enjoys being singled out for attention. Invitations to exclusive previews, early access to new products, and waiving the occasional requirement or fee are all good ways to offer something to your most loyal customers and acknowledge them as being part of the rare group they are.
- Gifts – Gifting a physical product is another good way to thank your loyal customers. It can be something as simple as a free item with a purchase or a month’s free service for referring you to their friends and family. Or, if you feel like going all out, it can be a really grand gesture like dinner at a five-star restaurant.
Bottom line – the best way to create customer loyalty is to treat your customer the way you like to be treated when you’re on the consumer end of the equation. Keeping that in mind, will help you decide the best way you can thank your customers for their loyalty.