Enjoyed talking about “How to Connect and Build Loyalty with Your Best Customers” today on Startup Canada‘s #StartupChats on Twitter today with @glasscliffdivas @alicegyb @PatelAska @HomewurkApp @thevillagehive @AskDylanB @chrisgzuger @Jade_A_Consult @eSAXnetworking @JarrodGoldsmith @rebeldotcom @jamesbowen2015 @CoinSmartCa @JustinHartzman @ludovicamzz @inasequoia @sequoiaPRstudio @2Excellyourbiz @entrelaunch @fempirebuilders @TINATO
Here are my answers to the various questions posed:
- Why is customer loyalty and retention a competitive advantage for entrepreneurial businesses?
Successful businesses bake loyalty and retention strategies into their business models because they understand and value their biggest assets — their customers — who not only provide repeat business but also best net sales, referrals & advertising.
- How can entrepreneurs build a brand customers love?
Customers love brands that fit, are easy to trust and consistently make them feel good (at every touchpoint). Choose your niche. Be authentic. Be consistent. Stay visible.
- How can startups build loyalty when the rules of the business game are changing?
When rules of the business game are changing, it’s most critical to ensure you stay visible and engage your customers so they understand that they are appreciated and feel part of the process.
- What are some of the biggest myths in creating customer loyalty?
The biggest myth in creating customer loyalty is that a customer loyalty department — who steps in only when a customer threatens to leave — will save the day. Although you can often start over, once trust is gone, it will never be the same. @canadapostcorp #StartupChats
- Have new customer journeys changed brand experiences?
Create helpful, engaging & personalized content to support their decision-making process as 70% of the customer journey is often completed by time they find you. Customers are the go-to resource for creating the best customer experiences.
- How can entrepreneurs impact customer lifetime value?
#Entrepreneurs can impact Customer Lifetime Value (CLV) by creating amazing products, services & customer experience, appreciate their customers and consistently work on doing it better, faster and cheaper. removing risk e.g. freemium model
- Do customer loyalty programs still work?
Customer loyalty programs are critical because they make loyal customers feel appreciated. Did you know that 68% of customers stop dealing with a company because of perceived indifference?
- What are the best practices for engaging and retaining customers?
A systematic approach to mapping, monitoring & optimizing all customer experiences, loyalty, engagement, special personalized offers & of course, saying what you do, doing what you said you’d do & following up to ensure satisfaction top my list.
- What are the best ways to personalize your connections with the brand users and customers?
Segment & leverage geotargeting & use data to personalize all communication– their name, emails, offers, recommendations with all brand users. Engage customers in the process, allow them to create profiles & store credit card information.
- Where can entrepreneurs learn more about marketing smarter to create the best customer experiences?
The top 20% of your customers will represent 80% of your income and as such, they are the go-to resource for creating the best customer experiences.
- What is your final piece of advice for entrepreneurs who want to reward their best customers?
Once you’ve identified who your top customers are, engage with them on a regular basis to learn more about their business, their needs, and how you might be able to serve them better. Ensure they know that you’re open to negative feedback too.
How Do You Connect and Build Loyalty with Your Best Customers?
Would love to hear your tips and tricks in the comments below.