For Business Owners

4 Steps To Building Small Business Brand Loyalty

14/1/2020
By
Heather Young
Word map containing phrases related to brand loyalty.|Increase brand loyalty with regular engagement like this.

You need brand loyalty or else your business doesn’t stand a chance…But what is ‘Brand Loyalty’? To put it simply brand loyalty is the foundational and personal relationship between your business and your customers. And like any relationship it requires work. You need to build on interactions, trust and time. And when done right,  you slowly build that all-important relationship. There’s a tonne of research that shows the importance of building brand loyalty... So to help you get started, we’ve brought together these four simple steps.

Customer Retention

1. Talk To Your Regular Customers

Your repeat customers hold the key to answering how to build brand loyalty with new customers. There is a reason they keep coming back and you need to know it and fully understand it. Try offering an incentive; you will be surprised what people will do for a free coffee or voucher. Asking your regulars to answer a few questions about why they love your business is hardly hard work and won’t take up their time. But remember to be prepared, and keep it short and sweet. Prepare in advance by writing out maximum of 5 questions, examples:

           
  • What is it about our product or service that keeps you coming back?
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  • If a friend were to ask why you shop here, what would you tell them?
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  • Do our prices encourage you to shop here over competitors?
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  • How does our customer service play into your decision to shop here?
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  • What can we improve to make your experience even better?

If you have their email address you could even send them a survey through Survey Monkey or Typeform.

2. Focus On Your Brand’s Mission

In order to build brand loyalty, you need to be clear about what it is your business stands for. According to a recent global study, consumers are four to six times more likely to affiliate with a purpose driven brand. Whilst your business does not have to exist to solve significant world issues, you started it for a reason and a transparent view as to why that was will allow consumers to resonate and relate to your brand. Your business has a mission - that was the whole reason you started it in the first place. But sometimes this can get lost in the general day to day running of your business. Re-focus and review how candid you're being about your mission as this will set you apart and ultimately build brand loyalty. Still feeling a bit lost? Maybe it’s time for a refresher!

Branding mission success

3. Show Your Customers That You Care

Although obvious, this is easily forgotten and it shouldn’t be, especially as competition for customers gets more and more fierce. Taking customers for granted is one of the main reasons why they choose to switch brands. Show your appreciation to your customers, because it doesn't take much and can be beneficial for your business in the long run. One of the easiest ways to do this is through a loyalty program which constantly rewards customers for repeat business. Here at Swipii after doing our own research with thousands of small businesses, we have found that:

           
  • 88% of businesses which have loyalty programs are more profitable than competitors who do not (Source: Deloitte).
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  • 80% of your business’s total revenue is driven by your loyal, returning customers.
customer service

4. Keep Your Customers Engaged and Informed

By keeping in touch with your customers, you can more easily build a relationship with them that should stand the test of time and lead to repeat visits. Nowadays, engagement with your customers is easier than ever through the use of Social Media platforms and other tools. As a result of recent events, small businesses are having a competitive advantage when it comes to building brand loyalty. Our recent Consumer Trends Report noted that global events from 2020 have seen a shift to supporting local as well as an increased desire for business transparency. This is much harder for larger businesses to achieve as a result of their scale - leverage this! Keep your customer up-to-date with changes in the business - be it a refurbishment or an offer for being so loyal. With our app to help you and automated technology, you can keep customers in the loop with your next amazing deal or news without the fuss of having to set it all up.

Things To Remember

Building brand loyalty takes time, it won’t happen overnight. But if you’re committed, you’ll reap the rewards in the long term.

Want to learn more about how Swipii can help you grow your business?

Check out Swipii for Business today.