7 B2B Customer Loyalty Strategies That Expand Profits

[seonajmulislam00]

Let’s face it: while order takers believe that simply closing a sale is enough, today’s true consultative salespeople invest in keeping their customers engaged and loyal . At the end of the day, this is what sets them apart in the eyes of sales managers, who look for more than just order taking from their teams.

Here's a fact that every good manager knows: customer loyalty costs up to 7 times less than prospecting , according to Philip Kotler, the father of marketing. Therefore, in addition to delighting visitors, working omnichannel (integrating different sales channels ) and offering unforgettable service, it is necessary to think about customer loyalty strategies .

They improve the health of your customer base , guarantee your market share and allow you to achieve recurring profits that increase over time. Do you think it’s time to take your work as a sales representative to the next level?

So, check out this content and build customer loyalty once and for all!

Why is customer loyalty the key to success?
Customer loyalty can be defined as a set of strategies and actions that seek to keep customers satisfied, engaged and loyal to the company .

According to Kotler, the loyalty process consists of what do japanese phone numbers look like maintaining the customer's preference for a brand, product or service, through a positive and continuous relationship between the company and the consumer.

Investing in customer loyalty is important for several reasons. First, because, as we have pointed out, it is much easier and cheaper than prospecting. Second, because loyal customers tend to buy more and more frequently , which increases sales and the average order value. Third, because engagement tends to generate satisfaction. Consequently, more recommendations, which generate a positive effect on the brand image and the number of new customers.

If you don't believe me, here's what Reichheld, author, speaker, business strategist and creator of the Net Promoter Score, NPS, has to say:

“A mere 5% increase in customer retention can generate a 25% to 95% increase in a company’s profits.”

Fred Reichheld
So, you can see that we are talking about significant increases in profits. However, investing in loyalty can go further. It helps create competitive advantages . After all, loyal customers tend to be less price-sensitive and more loyal to the brand, even in situations of fierce competition.


The 3 main types of customer loyalty you need to know
It is important for sales representatives to be familiar with the different types of customer loyalty. This will help them choose the ones that best suit each department and target audience. Check out the three main ones available!

1. Customer loyalty based on benefits
This is a strategy that aims to offer benefits to customers who make frequent purchases or who reach certain purchase amounts. These may include:

discounts;
gifts;
insertion into points programs;
access to exclusive products.
Of course, each benefit must follow the commercial policy of the manager of each company represented . Many use the Flex Balance, for example, which allows external salespeople to have freedom when negotiating with their customers, closing satisfactory sales and increasing loyalty.

The Flex Balance helps with customer loyalty strategies. It helps the salesperson to give discounts without having to contact the manager. In the image, we see an example of a Flex Balance portfolio within Mercos
With Saldo Flex, discounts and additions are automatically in the hands of the seller, without the need to contact the manager every time they want to offer a special condition.
Learn more about Saldo Flex:
-> What is Saldo Flex: EVERYTHING you need to know

In any case, the idea is to offer differentiation to customers who are loyal to the company, encouraging them to continue purchasing.

2. Value-based customer loyalty
This customer loyalty strategy seeks to offer value to the customer through relationships. Its function is to make the buyer realize that they are getting more than the money they are spending — and that the seller is caring about their needs. At this point, they can bet on:

personalized service;
creation of emotional bonds;
products and services of superior quality to the competition;
problem-solving in an agile and efficient manner;
different service channels that serve the customer in all situations, etc.
While your competitor only allows customers to buy during a physical visit, for example, you can make room for your customers to buy online, whenever and wherever they prefer. This includes using social media tools like WhatsApp and email, as well as offering an online store.