It is never easy to build up a market share, especially in the most competitive sectors in today’s world. Increasing business or even maintaining existing share is a challenge. It depends on several factors. Central to those factors is the quality of goods or services that you are promoting. One crucial element is your database of existing clients. You must make sure you can get repeat business and create brand loyalty.
Lines of Communication
You must start by taking nothing for granted. Once you have opened communication with customers, you must ensure you keep those lines of communication open. The more information you have about a customer, the easier that is.
If you are selling a product with a guarantee, the document your customer submits to register the guarantee has all the basic information. Enclosing a questionnaire for completion with each sale may get you extra information. That is rarely seen as being intrusive.
Brand Loyalty
Every business has several elements, and you should not underestimate the importance of each of them. Any expertise that cannot be identified in-house should be given serious consideration. Included in that may be things that include a business’s relationship with the market. Anything that can create brand loyalty should never be ignored. is the question.
You want to reach a situation where customers insist on your product or service, not just express recognition, or preference.
A Detailed Programme
The creation of brand loyalty involves your being proactive. You have made a sale and possibly have received more than just basic information about your customer. You need to build on that in every case. That is even if repeat business would be very unlikely in the next few months.
For those who are concerned with how to keep your repeat customers, this loyalty programme guide from Glue Loyalty discusses the benefits of an effective loyalty programme and how it can inspire customers to return. Central to the creation of this is the decision about rewards. What should you include by way of rewards to help establish brand loyalty within your customer database? If you are a service industry, you may introduce a coupon discount policy to encourage you to return.
Such a discount from a company selling goods may involve free shipping on a repeat order. A points system is popular as you continue to buy. You might even consider pre-launch notice of new products for those who enrol and get a membership card.
What Are You Rewarding?
In these days of social media, positive reviews, sharing information and direct referrals are extremely valuable to a business. You can tailor your rewards to each of these things.
Perhaps there are particular products that you wish to sell. In service industries, some days are quieter than others. Promoting quieter days is seen as the best way to boost your business turnover without adding to your overheads.
A Positive Response
You need to create a programme that your customers see as beneficial to them. Promotions may be seasonal while recognising the importance of ensuring there is as broad an appeal as possible in your loyalty programme. Achieve that and you are on the right lines. Having set up a programme, or getting someone to do it for you, it is essential that you monitor the results. Its effectiveness is likely to dictate future policies. If change is needed, change!
