While running any business, the ultimate goal is to grow your customer lifetime value. Also, at the same time, you need not overlook the importance of customer retention and brand loyalty efforts. 

The study revealed that almost 10% of customers spend three times more time than the average customer base. Also, they spend five times more per order. 

Acquiring new customers is what many companies focus on, but it can cost up to 7 times more than keeping customers. To accomplish this goal, why not we boost brand loyalty and customer acquisition into the same system? 

Indeed, we can provide a great experience and cultivate new efficient business, and yield higher ROI. Customer relationships are crucial for your business’s success, and customer churn comes from weak relationships. Constant interactions with clients create a healthy bond.  

Actively engaged by connecting your audience to a system that monitors their activity, looks for trends, and automatically connects with them regularly and one that causes immediate action in case of a sudden decrease in interaction.

Let us read about the best ideas for boosting customer lifetime value.

THANK THEM WITH REWARDS

Involve customers with surveys, sweepstakes, competitions, and vital customer support service. Know what they think and reward them for taking the time to tell you. 

The feedback, good and bad, can be utterly invaluable in helping you find places to improve, products to develop, and in general will things moving along nicely. 

Not only reward them for taking the time to tell you what they think but openly thank them/credit them for their suggestions via kudos or social shout-outs.

PROVIDE AMAZING CUSTOMER SERVICE 

It is crucial to invest in your most active brand evangelists by rewards, kudos, public thanks, etc., which is a fantastic way to grow your business’ brand across multiple channels. 

Also, look for the best brand advocates, typically not your customers, but instead are your employees! Having a system that monitors, engages, and rewards external brand ambassadors and internal brand ambassadors almost guarantee customer retention and brand growth. 

PERSISTENTLY CONNECT TO REDUCE CHURN

Do you monitor that your clients are sharing you and your company on their social networks? Are you watching it? 

Are you sure that they have become your brand advocates? You can gain their trust by incentivizing them to talk about you via Facebook, Twitter, LinkedIn, and the like. Reward them for sharing selfies, or unboxings, or product use photos. 

Look for ways they enjoy, and then send them something you know they’ll love. This way, they will create a buzz not only through their social accounts but, more importantly, they’ll talk about it in person with their friends, family, colleagues, and anyone else who will listen. 

INVEST IN YOUR CLIENTS

Offering the best features, services, resources, and whatever else your customers will place some value on consumers. 

You must be using analytics to not just provide equal importance to all of your customers, which is essential, but make sure you’re providing value to your loyal customers.

You can offer the flagship of products or services, then make sure you’re doing it through your customer service. 

CULTIVATE OWNERSHIP

Indeed, nothing is more irritating than a company offering special deals for new customers while ignoring existing customers. Retention is vital to increased sales,, and it’s usually easier to keep clients vs. recruiting new ones. 

It will also spread good feelings about a business, especially if current members reach out to the latest offers before they have launched to others.

Having a series of customer tiers that promote continued use and access to perks, such as early upgrade notices, builds a feeling of privilege and prestige.

MAKE YOUR PROCESS AN EASIER ONE

Always offer the best product and give them something that makes their life more comfortable. Provide information that makes it easier to garner more loyalty.

If you pull this off in the right way, you’ll have customers who rely on you for more than just your product or service. You’ll be almost irreplaceable!

FIX ISSUES SOON

Go beyond your actual product and give them something that makes their life easier consistently. It is the main goal for these tip articles. 

We hope to provide you with information that makes it easier to garner more loyalty because if you can pull this off the right way, you’ll have customers who rely on you for more than just your product or service. 

PLAN THE PROGRAM FOR ULTIMATE SUCCESS

Building your business on loyal customers and brand ambassadors means you will have to do more than the average consumer expects because brand loyalty isn’t free. Like anything right, it’s worth working for. 

Therefore, make an effort to put your customers in the spotlight, offer extreme service, and essentially, make sure you’re doing something that makes your company hard to replace and impossible to forget.

About NEXTBEE’s Customer Engagement Solution

Boosting employee engagement by creating a customer engagement program is a great way to build loyalty, drive sales, and grow your brand in the long run. Focusing on retention first and growth second is a proven strategy.

NextBee creates full engagement programs that build loyalty, generate referrals, and grow your brand’s ambassadors. It has key features that make the brand experiences good customer retention because:

• It offers the freedom to design desirable loyalty and customer engagement campaigns
• On the admin dashboard, you can control, manage, and organize everything seamlessly
• The solution integrates impeccably with other solutions like eCommerce, POS, ERPs, and CRM systems, etc.
• Boost customer lifetime value with personalization in rewards, discounts, offers, schemes that brands can run for their loyal buyers to increase customer retention

To know more about its key features and functionalities, book your demo today with NextBee.