Winning With Loyalty .:. Pivotal Zen

WINNING WITH LOYALTY

Your Ace In The Hole

When people love your brand, they keep coming back and also tell all their friends.

But brand loyalty isn't something that happens overnight. It takes work to build strong relationships, establish trust and make authentic connections with your customers.

Business owners know that cultivating loyal customers is at the top of their priority list. But what do you do when the best efforts aren’t yielding results? The answer is taking a hard look at your value proposition and, more times than not the customer experience. You’re not alone. Fortune 500 companies pivot for this very reason through new products and new ways to meet customer needs.

Building Trust & Consistency

In the casino world, building trust is paramount, especially with online platforms. Security and making good on winnings was important, but equally important was superior customer service. When you go to your favorite restaurant and order your favorite meal, you expect it to taste the same, right? The same applies to any product or service. The first rule in building trust and loyalty is consistency. Whether it’s the product itself or the online or in-person experience customers have with your brand, consistency is key to long lasting satisfaction and customer relationships. This inludes training personnel to align with your company’s ethos.
In the process, continuously evaluate your value proposition and how it compares to the marketplace at any given time. Take nothing for granted. For example, if you sell a similar widget as your competitor, you can explore new suppliers to offer a better widget at a competing price. You may even find that the better widget costs the same or less than what you are paying now. Think differently. The ultimate goal is letting customers know you’re being senstive to their needs and exhibiting care by rewarding them for their loyalty.

Offer Tangible Value

Look for ways to provide tangible value. Discounts always work, but so do product guarantees, special promotions and building a loyalty program. A loyalty program, like a rewards card, can be extremely effective. The more they spend, the larger the rewards. It’s a win-win. When doing promotions, offer customers a variety of choices. Being too narrow can leave out customer segments.

The Do’s and Don’ts of Brand Loyalty

Respond Quickly: Show you value your customer’s time. Be Friendly and Helpful: Train employees to engage customers with a smile with useful information for their purchasing decisions.

Address Complaints Well: When there’s an issue, apologize and take responsibility. Explain how you will make things right.

Offer Loyalty Incentives: Provide rewards and exclusive perks for repeat customers. This could include discounts, coupons, members-only events or a loyalty rewards program

Take Online Reviews Seriously: They can grow or sink a business. Continuously Improve: Make changes to better meet changing customer needs and innovate! When customers see their feedback implemented, it builds trust in your commitment to great servce.

Lacking Consistency: Avoid abrupt changes in your product or service unless it’s absolutely necessary for business continuity.

Failing to Deliver: Don’t overpromise and underdeliver. It’s better to exceed expectations than to disappoint.

Ignoring Customer Feedback: Listen to your customers and respond to their concerns. Monitor reviews and social media.

Failing To Innovate: While consistency is key, you also need to improve, update, and provide new offerings to keep people engaged. This can include technology for a streamlined customer experience.

Failing to Reward Loyalty: Offer incentives like discounts, VIP perks, and loyalty programs. Avoid changing the terms of a loyalty program or making points too difficult to earn. Keep it simple.