How to build long-lasting loyalty?

By | February 5, 2011
Community - one of the powerful way to create loyalty and retain customers is to bring group of individuals with common interests together and encourage them to participate in encouraging activities.

Rewards programs – is a proven strategy that brings long-lasting loyalty of existing customers. Frequent flyers miles, free trips, free or discounted upgrades, and many other similar programs bring loyalty to the brand. Email and social media platforms can be effectively used to promote brand loyalty. If you recollect, banks have referral programs that help existing customers make extra cash up to certain amount by referring friends who sign-up for certain qualified services.

Email Newsletters – are perhaps one of the most common tools used by marketing for establishing communication with prospective and existing customers. Remember the newsletters from some of money managers educating about hot stocks and the prospect etc.. Newsletters can be both in print and online form, with a common purpose. Newsletters can be tied to your email marketing programs by enabling newsletter subscriptions on the company website.

Email alerts – signing up for email alerts can keep the customers informed about any important changes and promotions that are introduced

Up-sell and cross-sell – once the customers make a purchase and the order fulfillment takes place, companies can target those customers for the up-sell and cross-sell marketing campaigns by sending them thank-you note, %off coupon towards their next purchase redeemable within 30days of their initial purchase, and Amazon’s favorite – of sending a notification to customers about Also bought notification.

Birthday reminders and gift suggestion services - this bring more of a personalized feelings and experience to boost loyalty

Win back programs – “win them back” is another front that marketing can focus in bringing back past customers who might be dissatisfied with competitor’s service and/or attract them towards better services and promotions whose contracts are about to end with competitor. New customer acquisition is a costly affair when considering the costs associated to retaining existing customers or past customers. It is critical to understand why customers dis-engaged with the company and decided to go to competition to formulate a strategy to bring them back.
 

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