Loyalty to No EndAfter you’ve successfully built and increased the brand awareness for your hair business, you should now have some new customer faces and established customer relationships. Now, the next important step is to retain those new customers always to keep them coming back. This is only logical. A great and effective way to do this is by building your customer loyalty program. A customer loyalty program is essentially a rewards program offered to clients who frequent your services and business. It provides them with cool benefits like the chance to win or earn free merchandise, rewards, exclusive discounts and first dibs on new products and services you may be offering. When creating your customer loyalty program, you want to tailor it according to the true needs of your client and target audience, identify with who they are.
The Statistical BreakdownBefore you do so, learn a little more about the statistical breakdown for building that customer loyalty for your hair business:
- According to Marketing Metrics, if a client has previously made a purchase from your company, there is at least a 60% chance that the customer will make at least one more purchase.
- Quality of customer service is essential for customer retention! Studies show that 34% of the time, customers will switch to other companies because they were dissatisfied with the service.
- 66% of consumers said that the design and quality of product or service were the leading factors in determining brand loyalty
- Loyal customers will feel betrayed if a company misuses their information. Nearly four out of five customers would abandon a favorite brand if the company used the customers’ personal data without first notifying them.
- According to other research, loyalty programs are a solid customer retention strategy. But what also matters is how long they stay loyal to the loyalty program, which is proportional to how quickly it yields rewards.
Now that you have some insight of a few key components that can help build your customer retention, you can now focus on what’s most important and effective for the success of your hair business. Let’s dig into a great tool, like gift cards, and how they can help with customer loyalty and retention when used through a program.