5 Pillars to Fuel Consumer Loyalty
It’s no secret that consumer loyalty is a key reason behind most successful businesses. Having customers who continually purchase from your brand and recommend your services/products to their friends are people that enrich your reputation and revenue.
Building these loyal customers however, has proven to be more and more difficult as time progresses. We live in a consumer driven economy where people thrive off of over the top experiences. Customers have access to a number of different services that are fast and engaging. So if your brand isn’t providing them with an encounter they will enjoy, they’ll find a brand that will.
To ensure you’re generating loyal customers and sharing an experience that puts your brand at the forefront of engagement, here are our five pillars to fuel customer loyalty, that will not only enhance experience but grow your revenue stream.
1.Provide Fast Redemption
Redemption should be fast. Period.
No customer wants to wait for a rebate that they expect now. Sending a reward, at the industry average for mail-in, 60 days after form submission, annoys claimants and leaving a bitter taste in the consumers mouth is not a way to thank them for purchasing your product.
It’s important to realize the consumers time is precious. Building loyal customers who advocate your brand, starts by making redemption fast.
2. Make Redemption Simple
Your rebate shouldn’t be a strain on the consumer. It shouldn’t deceive them, or be too complex to understand or fill out.
Your rebate should provide clear and concise guidelines, explaining what they need to provide. It should be intuitive, asking the claimant only for information that they have.
In order to build loyalty with your consumers you need to build trust. Your consumer trusted your brand enough to purchase your product, the least you could do is provide an easy method of redemption.
3. Provide Claimants with Reward Options
Don’t annoy your claimants by giving them rewards cards when they want cash, or mailing them a check when they prefer direct deposit.
Your form of incenting should reflect their desired form of payment. There is nothing more aggravating for a consumer than being incented with a reward method they didn’t/don’t want.
Utilize data obtained from your consumers, whether through an automated vendor or through internal means and learn how they want to be rewarded. Look at trends in redemption, and modify your reward options during the program or for future programs to ensure maximum efficiency.
4. Drive Consumer Loyalty with Amazing Customer Service
When customers are at their most vulnerable it is important to provide them with the best service possible so they feel respected and attended to.
Your call centre shouldn’t make claimants wait on the phone, or provide them with more complexity than before they called in. They should be providing claimants with a step by step process, on how to attain their payment.
Providing clear instructions with an actual person on the other end, makes a consumer feel more comfortable with trusting your brand. A sure way to build loyalty.
5. Following up with the claimant after purchase
Did your customer receive their rebate okay?
A rebate shouldn’t be the last touch point with the customer but the first of many. You want your customers to come back for more, so it’s important to ensure their experience with your brand was a good one.
Showing your interest in their experience reinforces you loyalty to the customer and shows you care about them. A beneficial element for your rebate program and your brand as a whole.
Fueling Consumer Loyalty With Rebates
In a consumer driven economy it is important to attend to your claimant’s needs and show that you care. By implementing these tactics your brand can build trust and loyalty with your customers, ensuring your reputation and revenue strengthen.