When it comes to B2B companies, customer loyalty is hugely important. On average, the spending of repeat customers makes up about 60% to 80% of sales, meaning it is crucial to hold onto those customers that you attain and find ways to keep them loyal, even in the midst of strong competition.
The majority of the time, this is done through a streamlined, effective marketing scheme – including email, direct mail, social media, and in-person events – and a unique b2b loyalty programme that individually rewards customers for their repeat custom.
But customers aren’t a stationary entity. They never stay the same. Even if you think you have cracked your target audience, they will always move on and develop, which means it is integral to stay on the ball and move with the tide whenever it changes.
How Has Customer Loyalty Changed Today?
When it comes to 2023, there are a number of new customer trends that are already possible to spot. For one thing, customers are now laser-focused on value for money. This is due to the ongoing cost-of-living difficulties that are plaguing the UK and many other parts of the world.
Customers are now far more likely to only shop for essentials rather than luxuries, and if they are going to shop for luxuries, then there better be a very good reason: value. Similarly, suppose your company pushes essential products or services. In that case, you have to remain ahead of the competition and ensure that your prices are consistent and tailored to sway a customer’s decision in your favour.
Customers Are Now Looking For Innovation
It’s also important to be innovative with how you interact with customers. In 2023, there will be a number of new technologies that merge the digital and physical, and this can be a great tool to provide a unique customer experience.
For instance, they can now get hands-on with a new product without actually physically testing it, or they could interact with employees and communicate quickly with AI rather than wait on a personal response. Innovations like this must be recognised and respected if you want to build a relationship with your existing customers on a whole new level.
It Is More Important Than Ever To Engage Your Employees
At the end of the day, it is your employees who will be interacting with the customers themselves, and in 2023, it has become far easier for modern business clients to spot an engaged, enthusiastic employee over an employee who is lacking in motivation.
This is mostly due to the effects of social media. In 2023, companies will be more transparent than ever, and employees, too, will be transparent about their experiences with a business. This means that your reputation might be determined by how you treat your employees and how engaged they really are with your company’s goals and ambitions.
It is always essential that you look into new market trends and really try to pinpoint what customers are looking for at any given time. By doing this, you are putting yourself in the best position to market to them and ensure your relationship with existing customers remains strong.