TLDR:
It's imperative to business success to be able to ask customers about their experience. There are several reason why getting customer feedback is so important. It's crucial information for fixing and improving your product or service. It also shows that you value their opinion, which helps improve customer retention and increase loyalty.
TLDR:
When a loyalty program is done correctly, it can boost both acquisition and retention. This depends on having an organized and thoughtout set of rewards and segmenting your customer base to target them with the proper rewards. Finally, the tasks associated with those rewards should be specifically focused on motivating the right actions from your customers, such as sharing your content, creating some of their own, or referring your business.
TLDR: Many retailers view retention and loyalty as the same thing. They’re not. Retention strategies differ significantly from loyalty strategies. Monetary incentives drive retention. They’ll stop a customer from going somewhere else. Experience incentives drive loyalty. $$$ incentives get your customers, but relationships keep them loyal.
Customer lifetime value (LTV) is the ultimate loyalty metric.
TLDR: It’s not uncommon to offer disgruntled customers discounts in order to avoid negative reviews online.
Ironically, while that may satisfy the customer in the short term, it may not be the best thing to do. Turns out that the customer ends up getting used to the cheaper price and end up more dissatisfied than before when returning to full price.
A better solution seems to be to enhance the customer experience with a special bonus, an extension of subscription length, or more personalized attention.
TLDR: Customers only have so much money to spend on you and your competitors. By offering a loyalty program, you can incentivize them to spend a greater proportion of that money with your business.
The key to a great program is customer engagement and simple, appealing rewards. Here are tips for maximizing the success of your program.
Keep it simple.
Offer both a digital and plastic interactions.
Offer thoughtful, creative rewards.
Follow up with email marketing.
Sell gift cards to your loyalty program participants.
TLDR: Instead of being threatened, companies should engage with user communities to better understand the customer. Proper use of a user community can contribute to supporting innovation, reinforcing brand loyalty, and exposing recurring issues.
One of the easiest ways to get started is by simply offering a “suggestion box”. Even better would be a way in which users can interact in a conversation with the company.
Customers will tell vendors what they care about exactly and what they need to do to earn their business. We strive to make listening that much easier.
Keep it Simple
Our goal is to make the customer-vendor interactions as smooth as possible with a simple, intuitive platform.
Customers: Our Best Friend
Beyond our physical needs, we also have emotional needs. If a vendor can satisfy that as well...that's how you get organic loyalty.