Customer loyalty has been valued highly right from the inception of business as we know it, but the importance of value of strong customer relationships has never been as evident as it is in 2021. From your local kirana-wala to the big multi-storey outlet, businesses have never been more grateful for your business, ever since the pandemic hit. Brands have started to notice how important it is to have a loyal customer base. Lately, they have been making huge efforts to keep their customers from going anywhere else.
A simple text message on a customer’s birthday to provide a sample for the newest addition to the menu. Brands don’t have a shortage of ideas on how they can linger in their customer’s minds. Studies have shown that customers are much more likely to favor a brand that goes out of its way to show appreciation for getting their business. Handwritten notes thanking customers for their purchase or asking for a review lead to a more positive outcome while staying cost-effective with the possibility of generating a buzz on social media.
Power of social media
The power of social media gives brands a unique opportunity to stand out from their competition. Gen-Z is hyper-aware of their surroundings. They go out of their way to support brands that align with the values they would like to encourage. In recent years, there has been a push from brands to contribute more to society. Restaurants providing free meals at the end of the day help feed the underprivileged in the area as well as limit food wastage. A simple act such as that can lead to positive sentiment towards the brand from new and existing customers.
Increase customer engagement
According to the Harvard Business Review, it’s 5-25 times cheaper to re-engage customers than acquiring new customers. Brands that make a constant effort to ensure that every customer interaction ends on a positive note. From interacting with customers before making a purchase to after-sales efforts have an easier time achieving. Hence, building strong customer relationships has a direct impact on your business.
Friendly approach towards customers
In an environment where information on a brand is just a simple web search away. It’s important for brands to stay ahead and make sure they are portrayed how they want to be perceived. A brand’s beliefs and values often resonate with repeat customers. For example, making an effort to be environmentally conscious can have an impact on customers. A simple switch to eco-friendly shopping bags can have a positive result in brand perception. Brands that have an inclusive and friendly approach in their messaging and follow through with it have a much easier time in getting the coveted word-of-mouth going.
Even though the times have changed, a personal touch will never go out of style. Thus, brands who realize the hidden value of strong customer relationships tend to stand the test of time. Especially during hard times. Brands having a loyal customer base have found it relatively easier to continue operations in the post-pandemic era. Although it takes time for customers to relate to a brand. It’s never too late to start and Value of strong customer relationships.
YumzyX can help strengthen the bond between you and your customers. We provide you with transparent insights that help you understand your customers and their needs so you are never caught off-guard. Our AI-powered customer notifications can help you re-engage customers with precision. To understand tacking changing customer behavior, visit https://blog.yumzyx.com/how-to-tackle-changing-customer-behavior/ Additionally, our marketing team helps you build long-lasting relationships with your customers so you can linger in their minds longer. Reach out to us to learn more.
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Thank you for reading the article. Check out our video with Euphoria Bakers where we discuss how important customer relationships were to their success.