Engaging and rewarding loyal customersWhen devising new business growth strategies, consider the “80/20” rule. Often, 80 percent of revenue comes from just 20 percent of a business’s customers.

As well as being extremely valuable right now, your most loyal customers are also the future of your business – so engaging them and keeping them loyal is crucial.

Here are five ways to do it:

1) Create a loyalty program

Reward customers for renewing contracts, purchasing products and referring new customers. Consider a program that provides free products and services as a reward for repeat business, or allows customers to accumulate redeemable points.

2) Foster a sense of ownership

Are you launching a new service or developing a new product? Invite your most loyal customers to become beta users, and solicit their feedback. This will give your best customers a sense of being a stakeholder in your brand, as well as helping you create a tested offering.

3) Offer premium services

If a small proportion of customers are responsible for most of your revenue, provide them with premium-level customer service. This could be anything from waiving fees and shipping costs, to offering service outside normal business hours.

4) Make them feel special

Exclusive perks let customers know how much you value their business. Let them preview and purchase new offerings before they’re available to the public. Host exclusive events for top customers outside of the office. For a more cost-effective option, profile your best customers in your email marketing campaigns or with social media shout-outs.

5) Reward referrals

Reward customers who recommend your business to friends and business associates with discounts and other rewards. Customer referrals are a powerful tool in new business development, so let current customers know how much you value their recommendations.

By using the tactics outlined above, you can nurture relationships with the most valued segment of your customer base for continued long-lasting growth and success.

Need more online buzz? Make your customers happy and you can be a social media sensation, says Peter Shankman. Join Peter and Vocus for the Nice Brands Finish First webinar on April 17th and learn how! Register here!

About Annemaria Nicholson

I drive go-to-market content, SEO and social strategy for multiple brands at Cision, an earned media software intelligence company.

Your content program is only as good as the stories you are telling. I engage and inspire audiences with interactive and multimedia projects that serve all areas of the funnel and have experience scaling content programs globally to drive brand awareness, leads and revenue for the business. I own our keyword strategy and non-technical SEO for the business.

I revolutionized Cision’s outbound promotion efforts to amplify its inbound lead generation results by creating a multichannel campaign strategy that promotes discoverability, search rank, audience awareness, credibility, and ultimately more topline revenue growth. I also helped with our rebrand and watched Cision go public in 2017.