The importance of customer frequency is immeasurable and the benefits are two-fold. One, it creates a connection between a company and its most loyal customers. Two, it fosters brand awareness for the company to acquire new customers from reoccurring ones. Naturally, companies of all industries and sizes want to foster customer loyalty. But how? Here are five ways to boost your customer frequency in order to boost your business.
1. Be loyal to attract loyalty
It is easier (and cheaper) to keep customers than it is to attract new ones. Therefore, it’s important to invest in retaining your existing customers. To win their loyalty, show customers that you are loyal to them as well by consistently delivering high-quality products or services. Customers will become loyal to you because they know they can count on and build trust in your brand.
2. Give… then give some more
The spirit of giving doesn’t always need to come in the form of rewards and discounts. When you are committed to keeping your promises, it shows customers they are not taken for granted. Customer loyalty increases whenever you are able to deliver on your promises. Through acts such as delivering products ahead of schedule, customers can see that you are trying to outdo yourself and exceed customer expectations.
3. Reward your customers
Don’t simply throw out minimal discounts and offers. Find out what your customers want to have, know, and see, then give them more of it. This can come in the form of providing access to an event, introducing loyalty points, or including a personalized note after purchase. Do more than give 20% off. Give customers an enticing reason to buy.
4. Anticipate customer needs
As times change, so do the needs of customers. How can you ensure your brand continues to stay relevant? Identify what a customer is going to need before they do. Be flexible in continuously evaluating your brand’s focus to ensure that meeting the customer’s needs is always your main priority.
5. Don’t just focus on the dollar
If you only connect with customers when you want the cash in their pockets, you won’t foster loyal relationships. Hold an appreciation event, address them by their first names, share helpful how-to’s on your blog, or showcase your efforts to improve the community around you. The key is to interact with your customers on a regular basis, without asking them to reach for their wallet.
According to the Pareto Principle, 80% of your company’s future revenue will come from 20% of your current customers, making it critical to place your focus on frequent customers that will continue to provide you with repeat business. When executed correctly, maintaining a loyal customer base will help you make money and save money! Putting time and effort into creating and maintaining customer frequency should be an integral component of your marketing strategy.
At Burkhart, we can help you strategize to create the loyal customers you not only want but need. Want to learn more? Contact us today!