The Importance of Rewarding Your Loyal Customers 03.23.18

Have you ever driven across town to fulfill your latest desire or craving from your favorite store or restaurant?

We all have our preferred places to get coffee, lunch, or the latest products and the question that arises is “what keeps us coming back?” Could it be the product, people, or atmosphere? What about the familiarity of a known, comfortable environment? Or could it simply be the way that you are treated for being a regular customer?

Brand loyalty is present around us every day in almost every place we go. From logos on the latest gadgets and branding marks on clothing to sharing info with family and friends on social media or even good old fashioned bumper stickers, brands are advertised daily by their most loyal consumers. The effectiveness of this is virtually immeasurable and the benefits are twofold. One, it demonstrates the connection companies have with their customers, particularly their most loyal ones and two, it creates brand awareness for companies to acquire new customers.

So naturally, companies of all types and sizes want to nurture and encourage this customer loyalty and deliver better customer experiences and service. But how?

Value - Many companies provide discounted pricing to new customers but offering incentives to only first time buyers while failing to acknowledge and take care of repeat ones could cause you to lose the customers who are the most loyal to your company.  Consumers want to be appreciated for the money they spend at your business. Keep the preferences of repeat customers in mind when building out your loyalty programs, offering discounts, or developing new products.  Show that you appreciate their dedication to your brand and they will be motivated to continue doing business with you After all, they have already demonstrated they like your product…reward them for this and provide a better customer experience.  

Loyalty is trust - Trust in a brand, company, or product is what pushes consumers to become advocates of what you are selling. When you enjoy something, you naturally want it again; the same goes for your customers with your products. However, the trust you earn today is not a given tomorrow so make sure your company places heavy emphasis on the voice of the customer. Continue providing a high level customer experience and watch your best customers transform from occasional consumers to fierce advocates.

The human desire - Consumer loyalty has a lot to do with human need and emotion. People have a desire to be loyal to others. Use this to your advantage with effective incentives for your most loyal and frequent customers.

It’s a given that keeping customers makes for good business… incentivizing these customers makes keeping them that much easier! The whole point in rewarding people is to get them to repeat their behavior – which means providing you with more business. If done correctly, increasing customer loyalty through a variety of programs will not only increase your company’s brand awareness but will have a direct impact on your bottom line.