Increase Consumer Loyalty in Business Competition
Loyalty is a manifestation of the fundamental human need to have, support, get a sense of security, and build attachments and create an emotional attachment. Meanwhile, consumer loyalty is a behavioral impetus to make repeated purchases and to build customer loyalty to a product or service.
Consumers are said to be loyal if they show regular purchasing behavior. There are various ways that business people can do to increase consumer loyalty in the face of business competition.
Characteristics of Consumer Loyalty
Consumer loyalty is a reliable measure to predict consistent sales growth and buying behavior. Know what are the characteristics of customer loyalty, so you can increase customer loyalty easily.
- Make purchases regularly or purchase repeatedly.
- Purchasing outside of a product line or service (purchases between product lines).
- Recommending products or services to others. Indirectly, consumers have done marketing for the company and brought other consumers to the company.
- Demonstrates immunity from the attractiveness of similar products or services, or in other words consumers are not easily influenced by the pull of competitors.
Factors Affecting Consumer Loyalty
In general, consumer loyalty will be influenced by several factors, including the following:
- Satisfaction or satisfaction is a measurement of the gap between consumer expectations and the reality they receive or feel.
- Emotional bonding, where consumers can be affected by a product that has its appeal. The bond that is created is when the consumer feels a strong bond with other consumers who use the same product or service.
- Trust, which is a person’s willingness to entrust a company or a brand to perform or carry out a function.
- Ease of choice reduction and habit, that is, consumers will feel comfortable with the quality of the product when they make transactions easy.
- Experience with the company or history with the company, which is someone’s experience at the company that can shape behavior. When getting good service, consumers will repeat transactions at the company.
Establishment of Consumer Loyalty
Every time you buy a product, consumers will move through the buying cycle, which in this cycle can form consumer loyalty. The following are the stages of the purchase cycle that can build consumer loyalty:
- There is awareness of a product or service. The formation of the mind share to position the superiority of the product in the minds of potential consumers is carried out through advertising and other promotions so that potential consumers are aware of the existence of the product or service being offered.
- Make an initial purchase of a product. This is important to maintain consumer loyalty because from the initial purchase there will be a positive or negative impression of the product, so that there is an opportunity to grow consumers.
- Post-purchase evaluation. The existence of satisfaction or dissatisfaction can be used as a basis for considering whether to switch to another product or not. The decision to repurchase is the most important attitude for consumer loyalty.
How to Get Loyal Customers
The following are ways that you can do to help your business get loyal customers and increase customer loyalty:
1. Provide member cards to consumers
The member card program is one of the best strategies to engage consumers. This program is a means to provide different services to consumers who have a member card. By providing a member card, consumers will get special services, special prices, and will get more rewards than consumers who do not have a member card.
However, nowadays there are many loyalty programs offered by companies, so it will be increasingly difficult for you to attract the attention of consumers. Therefore, you must be more observant in compiling a customer loyalty program to provide added value that is relevant to consumers and build bonds with a product in the long term.
2. Know your customers and let them get to know your business
Consumers will tend to be loyal easily if they feel valued. For example, do you remember your customers’ birthdays? Or the last item they bought? Many business people use email programs that will send special emails containing birthday wishes to consumers and discounts during the consumer’s birth month. This will make your customers feel valued.
3. Giving loyalty rewards to loyal customers
Because the most important thing when you get loyal customers is to maintain good relationships. One way is to reward loyal customers, through a loyalty program. Awards can be given through scoring with a point system, VIP programs, making a game, and other methods.
4. Give loyal customers a convenience
For example, you could email new customers a user guide after they have purchased your product or service. Apart from that, you can also use an automated system that saves time and keeps loyal customers in your business circle.
5. Providing the best service and being the best
For consumers to trust and be loyal to your business, then you must be a trusted expert in the field of business that you are currently working on. Don’t forget to make sure your employees are knowledgeable and have a lot more experience than consumers.
6. Provide product innovation and create new variants
A product that continues to innovate will automatically build consumer loyalty. Consumer needs will always change and want to get more, so companies must innovate their products or services. Innovations that can be done are by replacing new product packaging, services, and delivery methods. Besides, the company must also carry out a strategy to develop its products by adding new variants. This is important to do so that consumers do not leave your product and switch to competitors with your product.
7. Ask for reviews from consumers
The response from consumers is very important to develop your product. For example, by filling out questionnaires, online surveys, or from emails you send. You can also give gifts if your customers are willing to fill out the questionnaire, for example giving samples of new products, or giving vouchers to some lucky consumers.
Loyalty or consumer loyalty is a measure of the number of times a consumer makes a purchase or participates in a business. Every industry or company may have various ways to measure consumer loyalty. However, the most basic way that can be done is to look at the number of purchases made by consumers in a database.
Consumers who make repeated purchases are the most valuable. Many benefits can be obtained by having loyal customers. Besides being able to increase profits, producers will also often get good reviews from consumers. This is very important to gain potential consumer confidence. That is why, until now, many business people have done various ways to increase consumer loyalty.
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