Your website is one of your most powerful assets for getting discovered by potential customers and securing new business. However, this is also an important tool for building customer loyalty with existing customers. Not only do you have to gain their trust in order to encourage them to make an initial purchase, but you also have to gain their loyalty as well. After all, the more trust and loyalty consumers have to your business, the more likely they will be to buy from you again and again. Building loyalty needs to go beyond mere customer satisfaction. After all, the more trust and loyalty consumers have to your business, the more likely they will be to buy from you again and again. Here are 8 ways to build customer loyalty by using a website.
What is customer loyalty?
A favorable and profitable connection between a client and a business is defined by customer loyalty. Customer loyalty refers to a customer’s willingness to make repeat purchases and consistently prefer one company’s offers over competitors.Customers that are loyal to your brand are less likely to switch to a competitor due to price or product availability. Cross-selling and upselling to them are much easier.
Your most important clients are those who are loyal to you. It’s possible that their initial purchase will be insignificant. Their lifetime worth, on the other hand, is far greater. According to research, 20% of your present clients are responsible for 80% of your future income.Customers that are loyal are more likely to give positive reviews and useful product feedback. They are also more likely to recommend your items and are more forgiving of operational difficulties.Customer loyalty is built on a foundation of consistently high-quality products, exceptional customer service, a great customer experience, and ultimately, customer happiness.
Why is customer loyalty Important?
Retaining current clients reduce the cost of acquisition
Several studies have shown that acquiring new buyers costs around five times as much as retaining existing ones. A 2% improvement in retention rate can provide the same amount of profit as a 10% reduction in operational expenses.Because they are unfamiliar with your products or services, first-time consumers are always more difficult to keep. As a result, you’ll have to spend a lot of money on marketing and sellingExisting consumers, on the other hand, do not require as much promotion. Customers who are pleased with their initial orders are more likely to shop from you again.
Repeat customers generate more revenue
According to Adobe research, recurring consumers are nine times more likely than first-time customers to convert. The conversion rate for potential clients ranges from 5% to 20%. Existing consumers, on the other hand, have a 27% likelihood of returning following their initial purchase. This proportion rises to 45% after the second purchase. And following the third purchase, the percentage jumps to 54%.
Customers that are loyal spend more on each order than those who are new to the company. The top 10% of your consumers may be willing to pay three times as much for each order as the rest. The richest 1% may spend five times as much on each buy.A 5% increase in client retention may raise corporate earnings by 25% to 95%!
Positive word-of-mouth is spread by loyal consumers
Customers who are happy with your products and services are more likely to leave favorable reviews and comments about them, which can successfully encourage other buyers to make a purchase.
Customers that are loyal are more likely to recommend your online store to their relatives and friends. According to Referral SaaSquatch, a newly referred client has a 16% higher lifetime value than a non-referral customer. Companies that have organized referral programs may boost their sales by 86% more than those that do not.
Effective customer loyalty in e-commerce strategies
1. Engage with your customers via online channels
Connecting with your users helps you to create a sense of belonging and community. You can use social channels to inform customers of new trends, special deals, and discounts. Popular social platforms like Facebook and Twitter offer engaging ways to respond to customer complaint requests on the go and ensure customer loyalty in e-commerce and satisfaction. Incentivizing various social actions like sharing, tweeting, liking, and commenting also helps in inculcating customer loyalty to brands. Awarding points for social activities is a great way to engage users on a frequent basis.
2. Make sure your brand is consistent
Consistency is a vital factor in building customer loyalty. Your brand wants to feel the same to customers every time they interact with it. If you mean what you say and say what you mean, the potential for your organization to not only grow but reach extraordinary heights is real. Also, your brand deserves rock-solid visual consistency too. Logos and design elements should look the same on all devices, and all browsers. The only thing worse than seeing a logo stretched out of proportion, pixelated, or painted up with new colors is seeing it shared that way with staff and customers.
3. Focus on what your brand does best
Customers are looking to identify with your brand’s mission and core values. To them, what you do is who you are. You need to make sure your customers understand what you do and feel that it’s something they’ve been missing their entire lives, and can’t live without now they’ve discovered it. That means you really need to zoom in on just one thing until it fills the screen. You should also consider your brand’s unique selling points. The more identifiable you are, the more affection you trigger in people who do like you, which can increase customer loyalty. Your site will disappear if you try to please everyone.
4. Make your customer loyalty increase by come-back programs
Customer loyalty programs are a great way to increase sales and keep customers coming back for more. One option is providing incentives for your customers to return to your site by creating programs that reward loyalty to your brand or offering discounts or coupons. Rewarding customers makes them feel special and entices them to continue doing business with you. Other approaches include social and email remarketing. Share your subscriber list to social and email your social contacts, and use website and email behaviors to target your customers on social.
5. Use customer experience analytics on your website
It’s essential to have a clear understanding of your customer’s needs, concerns, and desires in order to support them through your website. In order to make sure that your website is delivering the best possible experience for your customers, you should be employing customer experience analytics. Customer experience analytics allows store owners to track and learn information like which areas of your website your customers visit most, what content interests them, what products they’re browsing, where your customers are experiencing difficulties, and more.
6. Display customer reviews
As you can see, online reviews are key to building trust and loyalty with your audience. But, instead of having users go searching for reviews on the web, display them right on your website. Don’t just display good customer reviews though, display the bad ones too. Showing both on your site will make your company more transparent. Plus, when you respond to negative reviews, others will see the interaction and it will show that your company cares about its customers. There are a number of Magento plugins, such as Real Review by Magento 2 that allow you to easily display customer reviews on your website.
7. Support omnichannel customer experiences
Omni-channel customer experience is not just an option – it’s necessary for customer loyalty in e-commerce. Engaging consumers with the precise message at the right time on the right channel is a crucial driver of customer loyalty today. Also, in recent years, nurturing consumers into customer loyalty in e-commerce is growing more complicated as customer touchpoints proliferate. However, a 360-degree engagement with them at those touchpoints is essential. Identify those touchpoints, integrate them into the overall customer journey, and watch your conversions grow.
8. Turn to influencers to promote your brand
=One of the ways brands can build loyalty is by having influencers promote their product or service. Consumers increasingly find social recommendations – electronic word of mouth, even from other consumers they don’t know – the most reliable form of testimonial. That’s why you should use the assistance of different online influencers who your customers already feel a sense of connection with. Also, you can encourage your customers to become brand ambassadors via referrals. It is a good idea to have referrals as one of the key incentives in your loyalty program.=
Conclusion
As one of the central platforms for engagement between you and your customers, your website is a crucial tool for improving customer loyalty. By using these ways for your website, it will achieve its fullest potential. We – MageSolution offer tons of extensions and themes for your customer loyalty program, which will help your site flourish. Furthermore, if you are looking for a solution to build your eCommerce store with ease, our Magento Website Development is ready for you. For more information, you can CONTACT US.
