How To Get Increased Brand Loyalty Through M-commerce

Tag: brand loyalty


How To Get Increased Brand Loyalty Through M-commerce

Brand loyalty is vital for the long term survival of a business. The term refers to the tendency of customers to keep dealing with a particular business over others. Brand loyalty ensures a long lasting and trusting relationship between a business and its customers. This concept makes sure that by providing superior services and economical pricing, a business can keep its customers coming back.

With the rise in e-commerce, the rules of driving brand loyalty have changed a little. Businesses are now required to have specific strategy for fostering brand loyalty amongst its customers. The rules of the game have been modified further by the introduction of m-commerce or mobile commerce. As more and more people are now shopping on their phones, it has become necessary for businesses to adapt their customer centric policies to accommodate the requirements of m-commerce. Here are our top tips to help you achieve brand loyalty in the age of M-commerce.

Create your Brand: As intuitive as it sounds, this vital step towards achieving brand loyalty is generally forgotten by many businesses. Creating your brand image online requires concentrated efforts and comprehensive strategy. Whether you are using social media to promote your business or are going for paid advertisements, it is important that you offer a consistent message. Apart from the message, you may also create a unique brand identity by using the same color scheme, identical logos and consistent artwork. You should also properly analyse your products and services to identify your USP or Unique Selling Point. This USP will help you stand out in the crowd and create your own following.

Simplify: An important step towards achieving brand loyalty through the use of M-commerce is to simplify all your processes. The main reason behind this approach towards simplicity is that in the case of M-commerce, resources are at premium. The customer has extremely limited screen space on their phone. Further, despite vast improvements in technology, the internet and processing speed on a mobile phone are still slower as compared to mainframe computers. In order to ensure that the client is able to follow through all the requirements for making a successful purchase, it is imperative that various processes are kept as simple as possible. This will allow the customers to make faster purchases, adding to your bottom line.

Make an Offer: While the right type of messaging and efficient processes are big draws for clients, they also tend to respond well to financial incentives. In order to build brand loyalty, you may think about changing your pricing strategy and offer some discounts to your clients. The main purpose is to induce customers to make purchases repeatedly. To achieve this end, you may introduce loyalty points where the clients are able to use incentives to get discounts on their bills. Another strategy is to remarket, which is a tool aimed at customers who have not purchased anything recently. You can reach out to these customers with some offers, so that they are enticed back to your business.

Omnichannel Promotion: Once you have identified your USP, simplified your processes and started offering incentives, it is time to let people know about all your efforts. In order to succeed in the highly competitive world of M-commerce, it is important to take a comprehensive approach towards marketing and promoting your business. You should ensure that you are making optimal use of all the tools available to you. It pays in the long run when you take the time to align your email marketing with your social media promotions. This type of planning will ensure that you are able to provide a cohesive message which resonates with your USP. You can also start a blog to interact with your customer base. However, keep in mind that the quality of your content will determine your ultimate success.

Engage and Follow up: It is highly important that you maintain contact with your clients even after the transaction is over. After sales customer care is also necessary as it shows your commitment to quality. The key to keep people coming back to your business is to maintain a rapport with them even if they are not making any business transaction with you.

With these steps you can easily build brand loyalty in the age of M-commerce.

Tips to increase revenue and brand loyalty

Tips to increase revenue and brand loyalty

One of the most difficult aspects of managing a business is increasing revenue.  As a business owner, you have to grapple with increased competition in the backdrop of increasing operation costs. While most businesses focus on customer acquisition to boost revenues, research shows building brand loyalty can have an even greater impact. A recent report shows that 43% of customers spend more money on brands they are loyal to highlighting the importance of building brand loyalty. The same report shows that the probability of selling to an existing customer is 60-70%, while the probability of selling to a new prospect is 5-10%. If you want to increase your revenue base, you have to start thinking about strategies that will build loyalty.

From integrating secure online payment systems, customer referral programs, and excellent customer service to responsiveness, there are many ways of building loyalty with an eye on increased revenue. This article explores some of these strategies in detail. Keep reading.

  1. Create a customer reward program

One of the best techniques to retain customers is through gifts and rewards. This is the shortcut to customer loyalty and today; it is possible to personalize such gifts for better impact. With the data collected from your systems, it is possible for instance to wish a customer a happy birthday and even send them a personalized card and a gift.

This gesture will not only help in retaining the customer, but also promote your business by way of word-of-mouth marketing. Your business revenues will increase through return purchases and from referrals by your satisfied customers.

  1. Prioritize customer service

Businesses today struggle to increase revenues due to high customer churn rates. One of the main reasons for customer defection is poor customer service. According to the American Express 2017 Customer Service Barometer, 33% of customer say that they would consider switching brands in case of poor customer service. The same report shows that more than half of Americans have scrapped a planned purchase due to poor customer service.

These numbers emphasize the importance of providing excellent customer service. You must be there for your customer at all times because this is the only way to ensure they complete a purchase and remain loyal to your brand. If you want to improve your revenue numbers, you should invest in the best customer service.

  1. Provide value

Your customers already know many other brands selling the same goods and services as you. As such, your main focus should not be on the products themselves but on the value they add to the customers’ lives. You need to distinguish your brand as one that provides value, not just through what you sell, but also through community participation among other things.

  1. Engage with your customers

In today’s wired world, your customers are everywhere and they want to interact with your brand on all platforms. It is no longer enough to build a website because your target customers are on social networks and this is where you should also be. Make sure you connect with your customers as this gives them a sense of belonging and makes them loyal to your brand.

Use available platforms to inform your customers of new trends in the industry, your company activities, and anything else that is relevant to your relationship with the customer. Your customers should feel a part of your business as this will keep them coming and they will also promote your brand. This is a smart way to increase revenue for your business.

  1. Offer conveniences

If you make life easier for your customers, they will keep coming back and this will improve your revenue base. For instance, if you accept payments online free, offer feedback on social media, do free deliveries among other things this will retain your customers and increase revenue.

There is no denying that the current business environment is tough but if you focus on customer retention, it is possible to stay ahead of the competition. These two-prong customer retention strategies will not only build customer loyalty but also increase revenues.