The digital age has brought on a significant number of benefits for businesses, from the simplified process of finding valuable information to constant access to entertainment. Sadly, the lack of face-to-face connection is a major downside, even when considering we’ve never been more connected to people around the world.
This is especially true when it comes to online businesses, as they can struggle to achieve the same level of trust and customer loyalty as their brick-and-mortar alternatives. However, just because it can be more difficult, it doesn’t mean it’s impossible. So, make sure to keep reading as we’ll address some of the ways you can combat this.
Strategies for Cultivating Loyalty and Trust
There are many things one can do to ensure the customer loyalty and trust of their base. We’d suggest starting with analyzing successful digital industries and seeing how they’re handling this new era of business communication. And we don’t mean copying their strategy, as that most often cannot be applied to your own business, but rather gathering some inspiration and figuring out how you can implement a variant of it to your benefit.
One example we can make, in this case, can be found in the online casino industry, which has managed to balance innovation with traditional games. For instance, progressive jackpot slots put a spin on one of the most classic genres in the sector. This is done by adding a jackpot prize that rises every time players spin the reel.
It eliminates the chance of old users feeling excluded, by not forcing them to learn something completely new, but simply adds something on top of what they’re already comfortable with. This method can apply to practically any service or product, thus breathing new life into it without it being too jarring for past users while enticing new ones.
Another great strategy is opening multiple streams of communication with your users. While it can’t substitute real-life conversations, it is still a better option than completely excluding this feature. As advised by Forbes, creating a sense of community, whether it be via email, chat, calls, or social media platforms, is vital for fostering trust. This is also a great way to receive feedback and address their concerns.
This brings us to our last method of building customer loyalty and trust – actually listening to what they are saying. Be it positive or negative, actively tracking their reactions to your
products/services is crucial. This can be a great way to also figure out if you’re going in the right direction, and if you aren’t, pivoting and going for a new approach. As per Loyalty360, it will also make your clients feel seen, fueling their customer loyalty and trust towards your company.
The Importance of Customer Loyalty and Trust in the Digital Age
Now that we’ve covered how you can build loyalty and trust, let’s address why this is so important. Without the face-to-face contact many of us are accustomed to when perusing services and goods, we eliminate a vital part of the business-client relationship.
In this day and age, there have never been more options when it comes to purchasing products and services, so standing out from competitors is incredibly powerful. And if you don’t have a good relationship with your customer base, nothing will stop them from turning to one of your rivals. Additionally, since our attention spans have never been lower, at least as per several studies that have been discussed by outlets like CBS News, building on loyalty and trust can be another way to keep their eyes on you.
Let’s also address the financial benefits that come along with this. For starters, it costs five times more to get a new client, compared to an existing one. Moreover, customer loyalty and trust can be the ultimate way to drive repeat purchases. If they trust your products/services, it is only logical that they’ll continue returning to your business.
This will also lead to word-of-mouth marketing, which is a great way to boost both brand recognition and reputation. Plus, it’s one of the only free ways you can market your business to a wider audience. Businesses should always understand that they need to make their clients a priority. Thus, keeping them loyal and creating a trustworthy business model should be your goal, as without this, you wouldn’t be a business owner anymore. Ultimately, owning a business goes beyond making a sale, it’s about going the extra mile to ensure your clients know you value them.
The online world that businesses have been thrust into is still developing, and it’s doing so at an extremely rapid pace. These constant changes can provide big challenges to consumers and businesses alike, but it is possible to navigate them in a way that is not detrimental to either or. Regardless of the type of field your business is in, you can work plenty of magic to smoothen any transitions caused by technological advancements.
