As a business, there are few things more important than building strong customer relationships. Building these relationships with consumers can establish trust and allow for more customers to repeat purchases at your business.
In fact, information from the White House of Consumer Affairs reports that loyal customers that make returning purchases are worth up to 10 times as much as their initial purchase from the company. Not only that, it can cost 6x-7x more to obtain new customers than to have returning customers.
Building stronger relationships with consumers can pay significant dividends for your business. Keep reading this guide to learn how to improve this relationship.
1. Enhance the Communication
To build stronger customer relationships, the first step is to improve communication with them. Communication is a two-way street. This means a give-and-take relationship between the consumer and the business.
Promoting your business is an integral part of establishing a relationship. However, it’s also important to listen to the customer and what they want from you. This makes providing exceptional customer service a high priority. If your business needs help improving its customer service, consider hiring a company such as new wave communications to give you an instant upgrade to customers’ needs.
2. Reward Loyalty
One method of creating loyal customers is by rewarding them for doing so. Loyalty or rewards programs can be a great way to create returning customers and increase loyalty to the brand.
You can try several different programs, like gifts for spending a certain amount or a tiered approach where the consumer gets more points for the more they spend.
3. Produce Value
Consumers will be loyal to a brand that consistently provides value to them. You can provide value in any number of ways:
- Better product or service
- Better prices
- Enhanced customer experience
These are just a few of the ways you can provide value to consumers. By consistently being better than the competition, you can win customers’ loyalty.
4. Listen to Them
There is a saying in business that says, “the customer is always right.” Of course, this may not ALWAYS be the case, but in most cases, the customer is right because they are the ones buying the product.
Listening to customer feedback and making the necessary changes can go a long way in improving customer relationships with the business.
If you haven’t noticed it yet, personalization is taking the world by storm. According to a study, 91 percent of consumers are more likely to shop with a company that provides a personalized experience.
As a business, you can provide personalized recommendations or offers to help establish that relationship.
Get Started Building Stronger Relationships with Customers
Building stronger relationships with consumers and create that sense of loyalty takes consistent hard work. The best brands don’t take days off, and neither should you. Make sure every experience the consumer has with your company is as positive as it can be.
To learn more about building consumer relationships and other helpful marketing topics, check out the rest of our blog!