Retailers can’t take the easy way when establishing customer loyalty
Retailers often put a lot of time, effort and money into drawing in new customers. But what do brands do when these shoppers are in their doors or on their websites, and have purchased items? This is when the focus needs to move to establishing loyalty, as without giving attention to retention, merchants risk losing out on repeat sales.
There are many strategies that retailers can follow when boosting their loyalty rates, but the best way to accomplish this is by determining what works for specific patrons and what they need in order to stay loyal. Forbes recommended that brands focus on developing a "satisfactory customer experience" which covers a few basic elements: innovative products, on-time delivery that meets expectations and an effective method for fixing problems. The source noted that these factors, along with others that are in line with shoppers' wants and needs, are the first steps toward creating a seamless foundation for building loyalty. All it takes is hard work and dedication, but the results will pay off.
Developing loyalty programs is another strategy that can help merchants retain patrons. Business 2 Community highlighted some best practices of effective loyalty incentives, and one aspect that brands should consider including is simplicity. Keeping initiatives easy to use will increase participation. Additionally, the source noted giving customers the ability to quickly redeem any prizes or discounts can create successful loyalty incentives.