Loyalty in an Online Business

Loyalty in an Online BusinessMaking money online is a numbers game. You track subscribers, click rates, conversions, etc. The more people who see your offer, the more money you will make. So technically, you just need to pay for more high-converting ads and invest in building your list. What if you increased your conversion rates? Then you could make the same amount of money with fewer people seeing your offer. Or you can put forth the same effort and make more money. Increasing loyalty in an online business will also increase conversion and sales.

Bain & Company found that a 5% increase in retention (think loyal clients) can increase profits up to 95%. It makes sense that an online business will make more money investing in loyalty initiatives than in Facebook ads.

If you want to build loyalty in an online business, you should pay attention to a few things:

  • Do your clients get what they paid for (and a little more than expected)?
  • Is your delivery and customer service consistent and predictable to build trust?
  • Is there something unique to your business that they can’t get from anyone else?
  • Do they know you appreciate their business?

If any of those things are lacking, it will impact loyalty in your business. Loyal customers are the ones who trust you to deliver the results they need more than they trust anyone else. The minute they think they can get something comparable from someone else and they don’t feel connected to you, they will make purchasing decisions on price.

What does loyalty in an online business look like?

You may think loyalty is only important for hairstylists and restaurants. They need repeat customers. Online businesses do too. You may not use punch cards and coupons, but you can build loyalty and have repeat customers just like any other business.

When you add a little bit of personal touch to your online business, it increases the level of intimacy and makes your clients feel appreciated. Just because you are online, doesn’t mean you can’t connect with your clients on the phone, through snail mail, or occasionally in person. If you don’t think you have the time to do these things, hire someone to do it for you.

Look for opportunities to recognize and reward your clients. It may be for accomplishments, life events, or just for their loyalty. When they feel noticed by you, they become more loyal to you. And when they are loyal to you, they will buy from you more frequently.

What do you do to build loyalty in your business? Do you have repeat buyers who adore you? Have you done business with someone online and they connected with you offline as well? What did you think? Share in the comments.

If you want my ideas on building loyalty in an online business – or any business, sign up for my new webinar, “WOW Clients Now.” In it I will share my 3-step process to WOW your clients along with 4 relationships that have the potential to increase your income.

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