How to grow more loyal customers for your business: Forresters checklist
Businesses have believed that loyal customers repeatedly return because they deliver the brand promise – it is about giving customers what they want.
Yet customers disagree; they want control – the most important – is control over their privacy and data—transparency — is a concept that sells.
Optus Australias privacy crash – shows customers want a voice in the business relationship — to know that their voice – is heard by management and it counts – and most importantly, their data is protected – not a little – but a lot.
Forrester describes loyal customers as devotees who have the following characteristics,
- Spend more money with their preferred businesses.
- Keep their business with these brands.
- Forgive them when they mess up.
- Pay a premium price for their products/services.
- Go out of your way to work with them.
Not surprisingly, Forrester found that to get this level of devotion, you must stop treating customers as data points.
Forrester found that loyalty programs are lazy – they bribe people into buying more of your products and services.
How to build loyal customers
1) People develop genuine brand loyalty only when it gives them a sense of community.
2)There are many proven ways to build community – one of the critical measures is exclusive experiences.
3) Building community in a digital world — is less costly — but different. Personalisation and tailored services have significant value.
4) Regular check-ins – surveying their views helps them feel part of the decision-making processes – from marketing messages to new products or services.
5) It’s a human condition – we want to be involved – in the club (their preferred businesses) – and be active participants. The Voice – is a famous song – the customer’s voice is in the driving seat – is this true at your business?
Know when startups have raised new capital
A critical moment in a startup’s journey is capital raising. Scaling a business quickly – also requires scaling more capital to meet long and short-term KPIs.
www.founderalert.com is a new website that quantifies when a business has raised capital and how much it raised.
FounderAlert – collect the founder’s contact details. You can connect and start networking – to offer your products and services – no better time than when they have a bag of money.
It’s 100% free.
Metaverse Frenzy – is it Y2000 all over again?
- The metaverse is an integrated network of 3D virtual worlds.
- Access is via a virtual reality headset — users navigate the metaverse using their eye movements, feedback controllers or voice commands.
Tech companies are investing a lot: Microsoft’s massive US$68.7 billion acquisition of game-developing giant Activision Blizzard is a fraction of their investment.
Facebook’s parent company rebranded itself as Meta — a metaverse company, building the future of social connection.”
What’s going on in the metaverse?
Looking at just two of the biggest companies with over $1 billion valuations – not much is happening.
According to data from DappRadar, the Ethereum-based virtual world Decentraland had only 38 active users in the past 24 hours, while its competitor, The Sandbox, boasted 522 active users at that same time.
It’s worlds away from gaining a rational ROI – more financial pain awaits many businesses.
It is time to ACCELERATE communities of PASSIONATE NEW BUYERS by fuelling and facilitating their insatiable hunger for authentic content and conversations – so your business captures enormous attention and engagement – influence and sell more.
Now the most valuable asset in the world today is attention.
The FASTEST growing businesses have one thing in common they get more attention on multiple social media platforms – every day.
- More attention first
- Next More engagement
- Influence and Sell More.
Our business reflects the human truth: we are a social and human-first digital agency built on strategic narrative and pitch across platforms.
We accelerate powerful buyer insights gained through micro-content that ultimately influences actual business results.
Your ideal buyer truth is our lifeblood – we are loyal to it, defend it and accelerate it.
There is no longer a single, generic message served to a mass audience – now drive buyer attention and revenue growth by speaking specifically and differently based on who they are, by listening and understanding more.
If you have read this far, thank you for your attention.
There are over 150 free previous newsletters – like this one at accelerateyourbusiness.today – look for the tab – How to Influence and Sell More.
It means a lot. I hope this helped you even a little bit in better making sense of this topic. If so, please, share it with a friend who might also benefit from it.
Thanks for reading,
David
