Brand loyalty as defined by investopedia.com is the tendency of consumers to continue buying the same brand of goods rather than competing brands.
Prices of these products can fluctuate but consumers will remain loyal to the brand of their product unless the fluctuation is too extreme. Customer retention and loyalty are, thus, important factors in increasing profits and creating an inelastic demand for your product.
This will allow your firm to increase its revenue through a raise margins without a significant fall in demand. The cost of the product will not be affected by the change in price, which will allow profits to rise.
An easy, cheap and efficient way to increase customer retention and build loyalty would be through the use of an SMS marketing. This will allow you to keep in contact with your customers and build a personal relationship that is difficult to match.
Consumers are constantly bombarded with direct sales’ pitches that become irrelevant and standard. A personalised message that allows them to see you care is more likely to be taken into consideration and is, thus, a better indirect factor of sales.
A few tips explaining how to better your mobile marketing strategy is given below.
Discounts are an easy way to get new customers and keep old ones. Use shortcodes in your SMS and products surrounding your brand to send discounts to customers who choose to get involved in your product.
Send coupons via SMS to make it more mobile and easier for the consumer to use.
Increase the number of competitions you run and create innovative competitions that strengthen the customer's knowledge about your company.
4. Keep customers informed
Keep your customers informed and remain available and efficient for their information needs.
5. Build a personal relationship
Send unique messages such as birthday wishes to existing customers.
6. Remain relevant
Always send relevant news and offers to your customers. Separate them into different groups that focus on their interests.
7. Stay top of mind
The services industry can make use of friendly reminders to reduce absenteeism in customers.
8. Create back and fourth communication
Make use of a dedicated number when interacting with customers so that it is easier for them to contact you and open up a line of communication.
Encouraging interaction with your brand can not only lead to sales but valuable qualitative data you can use to improve conversion rates in the future.
9. Make use of multi-media
The use audiovisual tools such as images and videos as well as downloadable content to enhance the customer experience is proven to increase customer recall and retention.
10. Multi-channel communication strategy
Having other channels support and echo the messages in your SMS campaigns with customers can help drive faster reactions due to multiple interactions.
To speed up customer interaction you should look into integrating campaigns across multiple channels with the same messaging on your social media, email, on site and paid advertising to keep consumers informed on multiple planes of engagement.
For more information on how you're build brand loyalty with mobile marketing speak to us at iTouch. Contact us and we will arrange an appointment to meet you.