Customer loyalty is something that a business always strives for, the loyalty that the customer has for a brand is important in retaining those customers over a lengthy period of time.
The Importance of Customer Loyalty
There are many reasons why customer loyalty is important, but ultimately repeat customers spend more money which boosts profit, increases revenue, and keeping a customer’s loyalty is cheaper than finding a new customer. How many customers aren’t loyal to a brand and why? Well, 74% of customers aren’t loyal to a brand due to product quality, 33% of customers won’t return to a brand that lacks personalization, similarly, only 43% of donors remain loyal to a nonprofit. Once you find those loyal customers though, you’ll notice an improvement in revenue and profits overall. A loyal customer trusts the brand they’re purchasing from thus will increase their desire to purchase more from that company. In addition, if the company is bringing its morals and mission statement to life and the customer’s morals align, they are more than likely to spend more to help drive that mission. It’s important that the company, or nonprofit, showcase the things that make them different from their competition. Showcasing these items and proving them to the customer will ultimately strengthen the relationship increasing the amount spent and overall profits.
That’s not the only way to increase profits though, customer retainment is actually cheaper than recruiting a new customer. Showing your donor or customer that they’re just as important as the next is essential to retaining that individual. It’s vital to align your business to the customer to hold onto those loyal customers, especially since it’s difficult to build the relationship and trust with the customer at the beginning of creating that loyal customer. Some reports state that 1/3 of consumers will consider switching a company after just one bad experience with that company, which shows how essential it is to hire key people that share the same mission and value as your company.
Building Customer Loyalty
Building customer loyalty can take time and effort to show the customer that they have found a brand or organization that is on their side. However, in the end, it has a huge payoff as recruiting a new customer can cost five times more than keeping the existing one. Knowing who your customers are is extremely important, it only helps your nonprofit or business as a whole by a variety of ways, it’ll help you to clean up your data, it will assist you in prospecting future donors or customers, and can be effective in making your product or service available to them. Being in tune with your customers and donors will also make them feel like they’ve been seen by the business or nonprofit organization. Market research is an important piece of this, but just looking at the bare minimum of “who are my customers or donors?”, “what problem am I solving?”, and “who are my competitors?” What is your competition doing that’s different than what you’re doing? Are they able to capture the consumer or the donor better and how can you use that information to better your organization?
One of the best ways would be to create a sense of community within your company or organization. Creating a sense of community with your customer group shows the customers or donors that you care and everyone wants a community that cares for us or the people we care about. Whether the community lives over the phone, by mail, or on a Facebook group. Creating a community that shows the core values of your organization will help to expand your business or organization’s core values and put feedback forms up in your groups. Make sure that your community feels that you are living by the core values you set in place for your community.
Being reliable is not only an important factor as a person but as a business or organization as well. It’s easy to find another organization or business that does what you do, but prove why you’re the better compared to the competition. If you’re reliable to your customers or donors, and overall, to your community, they will see it which can make them feel that they can rely on you which helps to build trust. It’s essential to show the reliability of your employees and management, so you should be sure to employ people who share the same values as you and your organization.
Custom Ornaments Can Help Your Customer Loyalty
Building customer loyalty can be encouraged in the way that you treat your customers and donors, it can be shown in the community that you’ve built, and can be portraited in the way you thank your donors, customers, and what you offer as a whole. Giving your customers a reason to keep coming back, something that they’re excited to receive each year will help with yearly donations or visits. Creating a custom ornament can show your core values, as well as the mission statement or important aspects of your organization.
Each custom ornament is designed specifically for you and the needs of your organization, our stellar design team works with your sales rep and you to develop something that is perfect based on what your original thoughts and needs are to showcase your organization. Many organizations will create a yearly ornament program that creates that excitement year after year. One of our bigger champions of the annual ornament program is the White House Historical Association. The WHHA started its program in 1981 with a small number of ornaments, but they are now raising millions of dollars to help educate the public and aid in the restoration and preservation of the White House. An annual ornament program can only assist in brand awareness, fundraising, and building annual collectors, all of which will only assist in your customer loyalty as time goes on.
How can custom ornaments help you in the business you’re in?
The industries that we serve are endless! We’ve worked with nonprofit organizations, military and government, historical, zoos and aquariums, public lands, and many more. Many of these industries may use the custom ornaments differently, but they all help to fulfill one specific goal, whether it be to increase fundraising or revenue, raise brand awareness, commemorate the special event, and thank donors, employees and, volunteers. Custom keepsakes hold the same importance which is why we’re here to help you through the entire process, whether it be to help visualize the mission and core values of the organization in the graphic design process or to help maximize your potential by marketing the piece to its full potential, we have a full team that helps you through.