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The Importance of Customer Loyalty

the importance of customer loyalty

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Without profit, there is no business, and without customers, there is no profit. Customers are the sole provider of a business’ measure of success. Successful businesses know that their customers are their #1 priority in making a business work. Not only do you have to have new customers, it is even more important to keep the customers you already have. That is why customer loyalty is so important.

Small businesses and startups may struggle with their execution of customer service because of a lack of resources or time. So how is a small business supposed to face off against a large corporation? The answer is loyal customers. A loyal customer that has a satisfied relationship with a business and will often frequent the business, and go above and beyond for the business, too. Loyal customers often bring friends with them to their favorite stores and promote their favorite stores on social media. When you have created enough loyal customers over time, your business will be a success.

If you’re not convinced why you should be going out of your way to build relationships with the customers you already have, here’s a list of things a loyal customer can do for your business.

Loyal Customers Stick Around

Once you have a customer’s loyalty, you will find that they won’t visit your website a few times and then never come back, or stop into your shop and then you never see them again. A loyal customer truly appreciates what is at the core of your business, it resonates with them. If things are not going well in the business, your loyal customers will keep showing up and give your business the benefit of the doubt.

They Frequent Your Store More Often

A loyal customer may come to your store more often than they would need to, just because they like being there. If you own a restaurant and you have the same man come in every day with lunch, sometimes with friends and sometimes just alone, there is a reason he returns every day. He probably enjoys the food, but he also probably really enjoys being on a first-name basis with everyone who works there. He can come in and everyone says hello to him and remembers his name and his favorite order. He feels special at the restaurant because he is appreciated there. When a customer feels appreciated, then that is when you have created a loyal relationship.

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Loyal Customers Have Your Back

Your customers probably shop other places when they have to for other things they need or when they are in a pinch. But they always have your back. Most people eat fast food at some point or another, and you probably have your favorite fast food place that you think is better than everywhere else. So if you end up at Wendy’s and you really love McDonald’s, you’re not going to run around the next day and talk about your Jr. Bacon Cheeseburger; you’ll still be lamenting about how you’re craving a Big Mac right now.

They Offer Amazing Feedback

Since you have established a good relationship with your customers, you can now ask them for favors. Returning customers make for great focus groups and usually have a lot of opinions about your products and services. You know that they are satisfied with your business, but they might have some handy suggestions you’ve never thought of before. Don’t be shy about mentioning a customer satisfaction survey – the ones most likely to take it are your loyal customers because they don’t want your business to go anywhere. Your loyal customers will always give feedback that will ensure that your business stays afloat because that’s their aim, too.

They Will Promote You

As mentioned before, loyal customers will talk about your product often, which then brings in more customers. Word-of-mouth is a powerful marketing tool because when a suggestion is made by a person that we trust, we are much more likely to go with their suggestion. An easy way to create word of mouth from your loyal customers on social media is to create a hashtag with your business name. Without fail, your loyal customers will post themselves wearing, drinking, eating, or whatever it is they do with your product, with the right hashtag in the photo.

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