With 56% of online shoppers saying they’re always willing to try out new brands, it might seem like customer loyalty is a thing of the past. But a strong base of satisfied customers is still the key to a thriving business, especially in sales. Here’s how to get through to thrill-seeking shoppers with a rock-solid customer experience.
Promote Value over Price
You’re not Walmart or Amazon—you’re probably never going to offer the very lowest price for your product because you’re not a behemoth retailer who can sell certain items at a loss. Don’t fall into the discounting trap with customers who are always on the lookout for the next bargain.
IInstead, emphasize value. Your product is more than just the physical nuts and bolts; you’re also selling intangibles such as quality, confidence, consistency, and support. People instinctively want to feel connected to their business partners, so much so that 42% of shoppers are willing to pay more for a friendlier, more welcoming experience. A customer who values your relationship will return for repeat business and refer their associates to you. Ultimately, promoting value over price will net the kind of loyal customer base that can sustain your business for years to come.
Understand Your Customer’s Needs
Empathy is the future of experience in a post-2020 world, and customers’ appetite for being understood will only increase with enhanced data collection. But applying this principle doesn’t have to be technically complicated: your customer just wants you to anticipate their needs and smooth over stumbling blocks before they arise.
One easy place to eliminate friction for your customer is simply presenting salient information. For a digital storefront, consider what you can provide to assure and support your customer as they weigh purchases. FAQ pages, product reviews, model comparison charts, and demonstration videos all show a customer that you understand what they want to know, and you’re making sure they can access it easily without wasting their time.
Another common pain point is payments. Customers want options and the ability to access all of them from mobile, desktop, or in a brick-and-mortar store. B2B shoppers, in particular, sorely miss the level of payment flexibility they experience as B2C shoppers. And, as a business owner yourself, you know that obtaining traditional financing can be an off-putting slog. Offering a document-free financing alternative with Clicklease helps your customers purchase the equipment they need from a fellow entrepreneur who understands the hurdles.
Reward Loyal Customers
A loyal customer is worth the effort: a 5% increase in customer retention leads to a 25% increase in profit. Repeat business and referrals are worth their weight in gold, so it makes sense to invest in keeping customers around. Large corporations spend millions of dollars developing sophisticated CX tools that use data to analyze and even predict customer behavior on an individual scale.
But you don’t have to spend truckloads of money on AI to build a customer base. You can implement a rewards program with bonuses for subsequent purchases or offer exclusive friends-and-family promotions once or twice annually. Or, you can invest time: reach out a few days post-purchase to see if your customer needs help or express appreciation for their business every year around the winter holidays. Even small efforts to improve customer experience can build long-term results.