Have you got a good thing going on with your customers? Do they stick with you through thick and thin? Would they turn their noses up at a competitor, totally incensed that anyone would ever try to come up against you?<\/p>\n\n\n\n
Okay, perhaps your customers don\u2019t need to be that<\/em> loyal, but customer loyalty is still an incredibly valuable commodity for your business. Like any relationship in life, being able to count on your customers to keep coming back gives you a certain sense of security, and a sure-fire sign that you\u2019re doing something right.<\/p>\n\n\n\n In this blog, we\u2019ll talk you through what customer loyalty looks like and why it\u2019s so important, run you through nine of the biggest benefits of customer loyalty, and throw in some examples of customer loyalty in action.<\/p>\n\n\n\n We might even give ourselves a little plug to finish things off (but only because we\u2019ve got some top-notch customer loyalty software you really need to know about).<\/p>\n\n\n\n Loyal customers will camp outside your competitors\u2019 headquarters with \u2018boycott this brand\u2019 signs, ready to deter would-be purchasers, and filter them your way.<\/p>\n\n\n\n Just kidding. That would be weird.<\/p>\n\n\n\n Customer loyalty is simply a reference to someone\u2019s willingness to buy from you again because they were so pleased with what you brought to the table first time around. Loyal customers are the ones who keep coming back, interact with your brand on social media, talk you up when friends and family are asking for recommendations, and even pay more \u2013 simply for the pleasure of buying from YOU.<\/p>\n\n\n\n Customer loyalty feeds into your Customer Lifetime Value (CLV), which is a measure of how valuable a customer is to your brand throughout the entirety of your relationship. And because it costs a great deal more to attract new customers than it does to retain existing ones (it\u2019s five times easier to retain customers than it is to attract new ones), increasing CLV by establishing customer loyalty is a brilliant move for your business.<\/p>\n\n\n\n In today\u2019s overly saturated marketplace, brands of every shape, size and sector are continually competing for attention. Customers are bombarded with messaging from dawn until dusk, and so any brand that manages to make a real connection with its consumers \u2013 so much so that they keep coming back for more \u2013 really has hit the holy grail of marketing.<\/p>\n\n\n\n Customer satisfaction is big business; particularly in these digital days, when all our thoughts, feelings, opinions, and experiences end up plastered over social media for all the world to see.<\/p>\n\n\n\n Loyal customers are the biggest and best brand advocates you can have, and the most likely to shout about you to family and friends. In fact, 77% of customers would recommend a brand to a friend after a single positive experience<\/a>. Add to that the fact that 52% of customers go out of their way to purchase from brands they\u2019re loyal to<\/a>, and 43% of consumers pay more for products of brands they\u2019re loyal to<\/a>, and you should start to get an inkling of why customer loyalty matters so much.<\/p>\n\n\n\n A whopping 81% of consumers want to form a relationship with a brand<\/a>, so let\u2019s do a bit of a deep-dive into why a focus on customer loyalty is great for business. And don’t forget, that a core part of building customer loyalty is seeing each one as a human. People want to be treated as an individual, not a data point.<\/p>\n\n\n\n Whatever your feelings on pumpkin spiced lattes, you must admit that Starbucks<\/a> knows more than a thing or two about increasing customer loyalty. Through its rewards program, the coffee giant has generated an astonishing $2bn, and grown membership by 25% in the space of two years.<\/p>\n\n\n\n By tapping into what matters most to its customers (knowledge they can easily glean from all that customer data), Starbucks has incentivised its reward members with exclusive early access to highly anticipated seasonal drinks, free birthday drinks for gold members, and the power to order ahead and jump the queue. And because points can be accrued to unlock different levels of rewards, customer loyalty is all but guaranteed.<\/p>\n\n\n\n The Boots<\/a> Advantage card has one of the best rewards programs in retail: with four points for every pound spent, card holders can amass as many points as they have the patience to build, before splurging them in store. But the real beauty of the Boots Advantage card is in its personalisation: the card collects data about what the holder spends their hard-earned cash on, and tailors offers to suit.<\/p>\n\n\n\n The Advantage card also keeps customers coming back with special points days, extra benefits in Boots Parenting Club and Over 60s Rewards, and even access to lower prices! With those kinds of rewards, it\u2019s not hard to see why loyal customers will often pay more to stick with a brand they love.<\/p>\n\n\n\n Of course, you don\u2019t have to go down the customer loyalty program route if that\u2019s not your bag; it\u2019s just a great way to build customer loyalty. But a focus on top-notch customer service, putting customers at the heart of your business, and personalising the services you offer can all work just as well.<\/p>\n\n\n\n Understanding how customer loyalty can benefit your business is all well and good, but how do you find out what your customers think about you? With\u00a0Forsta\u2019s customer experience survey software<\/a>, of course (we did warn you there\u2019d be a plug in here somewhere). But before you switch off, let us quickly clue you in to how it can measure customer loyalty.<\/p>\n\n\n\n By presenting all your data as a complete story, our software allows you to easily see the root cause of any issue that may be creating tensions with your customers; we can also show you what your customer sees through our interactive dashboard \u2013 giving you a customer\u2019s eye view of every point in their journey. You’ll understand the full human experience when it comes to each of your customers and their relationship with you.<\/p>\n\n\n\n The bottom line? Forsta makes your customer data easy to analyse and simple to act on. You can track product performance, share best practices, and make decisions based on what your customer wants. <\/p>\n\n\n\n That\u2019s loyalty, in the bag.<\/p>\n\n\n\n Increasing customer loyalty is an incredibly lucrative business. But it also feels good to know that you\u2019re doing something right, right?<\/p>\n\n\n\nWhat is customer loyalty?<\/h2>\n\n\n\n
Why is customer loyalty important?<\/h2>\n\n\n\n
9 benefits of customer loyalty<\/h2>\n\n\n\n
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Examples of customer loyalty<\/h3>\n\n\n\n
Starbucks<\/h4>\n\n\n\n
Boots<\/h4>\n\n\n\n
How can Forsta help?<\/h3>\n\n\n\n
Your customer loyalty journey starts here<\/strong><\/h2>\n\n\n\n