With increased competition in the retail industry, it can be hard for a retailer to gain customer loyalty and stand out in the crowd. Customers have the advantage of shopping at a variety of businesses or simply ordering products online, making it harder for retailers to gain new business and gain loyalty. In order for retailers to boost their customer loyalty, they need to get creative with their loyalty programs to gain the attention of customers.
Here are 5 ways retailers can gain customer loyalty for their business:
Perhaps one of the main issues customers experience with businesses is lack of personalization. Customers want to feel like they are important, are valued, and that a business remembers who they are. In order to build trust and loyalty, retailers should take advantage of registered information from the consumer and personalize their experience. Netflix is one company that tracks what their customers are watching and provides recommendations of other shows and movies that are similar to what the customer had previously watched. This adds a touch of personalization and keeps the customer engaged and interested in other shows that they may like.
Retailers also need to be honest and open about the information they are collecting from customers. Give customers the chance to select which data can be gathered and which information they can withhold for privacy purposes. This gives the customer the opportunity to be in control of what personal data they want marked as private, giving them more of a say on what they permit the retailer to use and making the business more trustworthy and credible.
Create an Engaging Strategy
A great way to attract and gain the attention of customers starts with creating an engaging strategy that gives customers control. One platform retailers can use to engage with their customers is their website. Nike has successfully implemented this strategy and has had great results through their “Find Your Greatness” campaign, enticing customers to visit their website and learn more. Once they are on the Nike site, consumers are encouraged to meet their fitness goals by purchasing and browsing specific products to help them achieve this.
Maintain a Strong Brand Image
It’s important for a retailer to remain consistent with their brand image across all channels to reflect their core values. Consumers are able to recognize a great brand from the rest of the pact, so providing a distinguishable image mixed with exceptional customer service will make a loyalty program that is successful and unique. According to a study done by Invesp, 77% of millennials felt that the most important aspect of brand loyalty was a great product, followed by trust and brand recognition at 69%.
In order for retailers to evaluate how successful their loyalty programs are doing, they need to gather analytics and data. One way to do this us to measure various campaigns and assess how many purchases or visits your business is profiting from. Retailers can also learn more about their customers by tracking their spending habits. This will give retailers the advantage of learning about their customer base and gather important information based on certain demographics.
Retailers need to look for fresh and innovative ways in order to continue gaining customer loyalty. One way to boost customer loyalty is through implementing a loyalty program, which will help entice new customers and keep them returning to your business. By remaining personable, honest, creating an engaging strategy, maintaining a strong brand image, and gathering analytics, retailers will be well on their way to gaining customer loyalty for years to come.