Customer Loyalty - There Really Isn't Anything Else

We're not reinventing the wheel here. The internet is re-writing the possibilities for HOW you communicate with customers. But all good online marketing strategy stems from sound business principles. And with the kind of competition the online world presents, customer loyalty is absolutely, positively, without a doubt, the bedrock of your success (or otherwise) online.

Without loyal customers - loud, loyal, repeat, referring, advocating, promoting customers - it doesn't matter how beautiful your website is, how much Google Analytics you run, how many keywords you have plugged in - your business will not grow.

Let's Start With The Statistics

How many times have we heard the statistics on this - new customers cost 6 to 7 times more to acquire than selling to existing customers. Most successful businesses report that their top 80% of revenue DOES come from their top 20% of customers.

If you haven't yet cracked the code of customer loyalty for your business, you may be reading this thinking: "Yeah, yeah, more statistics, I've heard them all before." If you've already put in the hard yards and seen the pay-offs of customer loyalty you are probably nodding your head and saying: "Yes! It's not an empty platitude. It's true! Now how can I achieve those same results online?"

If you had the second reaction, please keep reading!

Your Website Should Be A Meeting Place For Your Loyal Customers

Even very talented business owners make the mistake of thinking their website is just an online version of a business brochure. And those smart enough to know they have to work to get found online focus too much on traffic and new business.

The fact is that the most successful business websites act as a live and dynamic hub for loyal customers.

The first element of the DNA of Online Marketing is D for Defend. What strategies do you have in place to retain your existing customers? What additional products can you create to sell to them repeatedly? There are some businesses that can only sell to a customer once, but the majority can make multiple sales to the same customers, the same products / services or different products / services. They depend on customer loyalty.

And even if you only sell once to a customer what's to stop you from creating customer loyalty from that one transaction ("I only used these guys once but they were fantastic - here's their website.")

Shed Your Customer Dead Wood

Customers who are never satisfied. Customers who drain time, money and resources but make few, or only low cost purchases. If, after you have listened to what they want, put changes in place (of price, offering, promotion, rewards) and followed up with genuine efforts, these customers are still not satisfied and/or not profitable, then it is probably time to conserve your resources.

There is a reason this is happening. They are probably not the right fit for you business so stop trying to sell to them. Coco Chanel once said: "Don't keep banging on a wall hoping it will turn into a door." And she is one person who knew a little something about both business and customer loyalty.

Find Out What Your Quiet Achievers Want More Of

These are customers who may buy from you regularly but they are oh so quiet. They don't respond to special offers. They don't send referrals your way. They neither passionately defend nor promote you. You don't feature much in their life.

Find out how many of these are just a step away from customer loyalty. Send out surveys or feedback requests. If they are not on your mailing list, next time they make a purchase ask what else they would find helpful from your service. Talk to them and make it very clear you will actually listen to what they say.

Then Focus Most Of Your Efforts On Your Loud Loyal Customers

This is the heart of your business - the customers who love your product and loudly tell others about it. They may also be loud with you (as long as it's not complaint after endless complaint) and this is great. They will tell you trends that are happening. They will ask for what they want. They will let you know which offers were appealing and which didn't hit the mark.

In Lean Times - Increase Customer Loyalty Not Sales

Successful businesses from restaurants to real estate agents, car yards to boutique jewellers, gyms to gardeners all report the same thing. Lean times will come. Plan for them as much as you can - both in your business cycle and by keeping an eye on industry and economic trends.

And when they arrive, don't panic, drop prices, have fire sales and start attracting a demographic of quick fix, budget hunting, transient UNLOYAL customers.

Reward customer loyalty. Here is a list to get you started:

• Create new specials
• Refine your ideal customer profile and target them more and more specifically
• Look around for worthwhile partnerships (that will benefit your business and your customers)
• Thank your loyal customers and keep them in the loop (regular email communication) LINK TO PAGE
• Loyalty programs - most are offered online these days
• Create personalised content (LINK TO PAGE) for increased communication relevance

If you would like help identifying the best customer loyalty strategy for your business, please get in touch. We will help you discover WHO your loud and loyal customers are and the best ways to keep them that way.