By Alistair Norman

5 Steps to Improving Brand Loyalty

Increase your customer retention in five key steps…

The Three Tenants

Having a cost effective product on its own won’t necessarily help you gain brand loyalty, as according to Clickfox’s 2012 Brand Loyalty Survey, the top three elements for customer retention are:

Quality 88%

Customer Service 72%

Price 50%

Loyalty Programs

Rewarding customer loyalty is vital in a crowded marketplace, as:

62% of consumers said they don’t feel as if they are being rewarded enough for their loyalty.

54% of consumers stated they would spend more money with a particular company if they were rewarded for their purchases.

Social Media

Engage customers through social media:

Over 23% of consumers aged between 18 to 32 prefer using social media to learn about brands and trends.

[SOURCE: http://apparel.edgl.com/case-studies/Five-Easy-Steps-to-Retail-Social-Media-Engagement85513]

62% of Fortune 500 companies have a Twitter Feed that is updated at least once a month.

[SOURCE:http://img.en25.com/EloquaImages/clients/CouchAssociates/%7B647c9b37-fa77-4da7-8586-4e8c24dca2e8%7D_20130]

Companies who blog regularly report an increase of 55% in web traffic.

[SOURCE: 625_Brand_Loyalty_Infographic.jpg]

74% of customers communicate with businesses over social media.

[SOURCE: http://www.v3im.com/2012/05/how-fortune-500-companies-use-social-media/#axzz1wI1u4hCr]]

Customer Service

Exceptional customer service is essential for customer retention. According to the 2012 Brand Loyalty Survey, customers want great service more than they want low prices. When stating what they wanted from brands:

34% said they wanted great service 24/7
20% wanted rewards for their purchases, referrals and feedback
13% wanted special offers and exclusives
12% wanted personalised products and services
10% wanted to be recognised when calling or visiting the retailer

Consider The Medium

When asking consumers about the communication they have with companies, Clickfox’s 2013 Brand Loyalty Survey reported that:

66% of customers don’t like to be contacted via phone

74% prefer to be contacted by text or email about special offers, etc.

First Impressions Count

48% of customers say that the best time to snare their loyalty is when they are making their first purchase. Remember that their first impression could also be their last, so make it a good one.

Remember:

The three tenants – quality, customer service and price
Think twice about contacting customers by phone
Use social media to connect with your customers
Attract customers with reward schemes
And the icing on the cake? Happy customers will spend more with you (68%); many won’t be tempted by your competitors once they have established a relationship with you (54%); and satisfied customers are more likely to spread the word about your business (78%).

The brand with the most customer loyalty?

Apple for the 2nd year in a row…

[SOURCE: http://www.clickfox.com/insights/consumer-surveys/2013-brand-loyalty-survey/]

The Author

Alistair Norman | Marketing Director

Alistair is responsible for the strategy, design and implementation of our Inbound and Content Marketing, with a focus on developing B2B and B2C markets.