Customer loyalty for e-commerce businesses is more than just a buzzword. The lack of a physical presence requires them to be more mindful about making the customer experience a positive one. In fact, brands that have survived the COVID-19 crisis are the ones that have mastered customer loyalty through the years and are taking safety measures to sustain that trust.So what exactly is customer loyalty and how do you measure it?
There are many ways to define customer loyalty and measure it, while some look at the number of years in business, some might use quantitative metrics like churn rate or retention rate, while some others might look at the stability of relationships during testing times.
Whichever way you measure it, the roadmap to successful customer loyalty is pretty much the same one you may follow to maintain a healthy and lovable relationship with your partner.
In this blog, we look at how customer loyalty requires the same kind of commitment, trust and care that a couple needs to sustain a relationship.
Love at first sight is a reality but how long can you keep it real? It depends on how happy and comfortable you make your partner feel.
To attain this kind of comfort with your customers, you’ll want to reduce customer effort to a great extent. Remember, customers might get attracted to your brand the first time, because of the value proposition, but they’ll come back again only based on your service and their experience.
Birthdays and anniversaries are special milestones for couples to celebrate with each other and partners usually don’t leave any stone unturned to make their partner feel special. As a brand, you’ll want to develop and sustain a strong emotional connection with your customers and show them that you care. Keeping their needs paramount at all phases of the customer journey should be your priority. This is where data mining plays a huge role. Make sure your customer database is updated regularly. A special birthday discount will go a long way. Festive offers, personalised recommendations based on their previous orders, meeting and engaging with them on their favorite social media channels, and crafting a personalised sales funnel based on their customer behavior.
Customer loyalty programs have long been the key to making your relationship with customers an exclusive one. For eg: Amazon struck gold with the prime membership. The membership fee gave Amazon the scope to offer more perks and customers were ready to seal their relationship with an investment upfront.
Did you know? As many as 84% of consumers say they’re more likely to stick with a brand that offers a loyalty program. And 66% of customers admit to changing their spending behavior with the intent to earn rewards.
‘You are not listening to me’- one of the most common reasons for a lovers spat. Right from the problems customers are looking to solve to the hiccups they face in the customer journey, you must be all ears. This way you can develop more customer-driven solutions that will make them feel you have their back, always. But it’s more than just being the one-time problem solver, it’s about anticipating your customers; behavior, their queries and their needs. Basically there’s a thin line between customer support and customer service. Customer service is immediate, short-term problem-solving, but customer service demands more time and strategy.
‘I am sorry’- 3 words crucial to keep a troubled relationship afloat. Of course, it depends on the gravity of the situation but these three words have been the cornerstone of every successful relationship. Once they’ve heard their customers out, brands are quick to apologize but they take time to show that they really mean it.
Be one step ahead when it comes to responding to a customer problem. One bad customer review could go viral and tarnish your brand image. It’s like how a dissatisfied partner is waiting to bring up the one mistake you made years ago! Well, the bottom line is made up then and there. With extraordinary after-sales service, keep bad reviews at bay and become your customer’s bae.
No relationship is the same. It’s bound to evolve; people change, their expectations change, they have different challenges individually and together, their life goals change, and what keeps them going is their ability to adapt to all these changes and keep the magic alive through these changes. Like a relationship, customer loyalty is an ongoing process.
You may not need to woo your partner all the time but you’ll want him/her to know that you are there for her/him. E-commerce businesses will need to work extra hard.
Let’s face it, the customer unlike the partner has a lot of options, and can quickly choose to jump off and latch on to another brand. If you want to be ‘the one’ for your customer, be sure to be adept to new technologies, changing demands and evolving buyer personas.