The 80/20 rule is one understood by the most successful companies today. The rule states that 80% a company’s sales is generated by 20% of a company’s customers. This means that the majority of your sales are likely coming from repeat customers, so if you want your sales to increase, you must focus on creating as many repeat customers as you can. In other words, you must build brand loyalty.
Here are two smart ways to increase your company’s revenue this year through building brand loyalty:
1. Become obsessed with customer service
The idea of being a “customer-obsessed” company is more critical today than ever before, thanks to the ever-growing demands of the modern consumer. If you want to remain relevant and increase your brand loyalty, you must become obsessed with your customers. Be incredibly responsive, quick, and caring. With Amazon’s impeccable 2-day shipping and remarkable customer service, they’ve set a whole new standard when it comes to customer service. If you want to create loyal customers, you must keep up.
2. Listen to your customers (especially on social media)
The way to win the hearts (and wallets) of customers in today’s world? Show them you’re listening. We live in a more customer-driven market than ever before, where your company’s online reputation plays a critical role in your customers’ choosing to do business with you, so if you want to create loyal buyers you must actively listen to your customers and publicly show them you’re listening. Those 100 recent comments on your last instagram post asking when you’re coming out with new styles? Don’t ignore them. Publicly respond in the caption of your next post letting them know you hear them, and you’re doing something about it.
Listen to their wishes, observe their activities, and create a content marketing strategy focused on them – not you. You will build brand loyalty fast.
For help creating a results-driven digital marketing strategy designed to increase your bottom line and produce raving loyal customers, get in touch with us here to see how we can help.