Today we are living in a completely human centred new era. It’s all about engaging and building trust among people around us, our families, our friends, our employees, our customers.
A study from Toll Free Forwarding on the US Market showed that 75% of Americans think brands should implement better strategies in order to encourage brand loyalty.
But what is customer loyalty? And why is it so important?
Customer loyalty is a customer’s willingness to repeatedly return to a company to conduct business. This is typically due to the delightful and remarkable experiences they have with that brand.
Did you know it costs five times more to acquire new customers than it does to retain current customers? And did you know existing customers are 50% more likely to try a new product of yours as well as spend 31% more than new customers?
Whether or not you currently have a loyalty program that encourages your customers to return and conduct more business with you, you should start thinking about how this could change your business and relationship with your customers.
Customers convert and spend more time and money with the brands to which they’re loyal. These customers also tell their friends and colleagues about those brands, too which drives referral traffic and word-of-mouth marketing.
Customer loyalty also fosters a strong sense of trust between your brand and customers — when customers choose to frequently return to your company, the value they’re getting out of the relationship outweighs the potential benefits they’d get from one of your competitors. Since we know it costs more to acquire a new customer than to retain an existing customer, the prospect of mobilizing and activating your loyal customers to recruit new ones — simply by evangelizing a brand — should excite marketers, salespeople, and customer success managers alike.
But how do you do it? How do you turn happy, satisfied customers into loyal brand evangelists?
• Be generous to your customers
• Always show your gratitude
• Build a useful community for your customers
• Make them feel unique
• Exceed their expectations
• Make their problems yours too
But, what about employees? Should companies be doing the same with them?
The answer is 1000000 times YES! Employees are everything in a company. Happy employees mean higher productivity, higher engagement, which means higher results and business.
The power of word of mouth, from great feedback from an employee is huge, and companies who can’t see that are going to stay behind!
Building employees trust and engagement has the same baseline as building this with our customers. And this is what we have been doing at Gamifyou. We want to live in a happy environment where people feel recognized for their efforts and rewarded for their commitment and performance and attitudes.
At Gamifyou we work daily to change people’s lives through gamification, and this is what makes our approach unique.
We are surrounded by happy people, happy employees, happy and satisfied, customers and their engagement and loyalty, come naturally ☺
Do you understand now, why we love loyalty and you should love too?