How do you define customer loyalty?

Customer loyalty is a customer’s willingness to purchase from a company regularly. Some factors influencing customer loyalty are customer satisfaction, positive customer experience and the perceived value of the goods or services purchased. To identify a loyal customer, you need to look for the following characteristics.

• They are not looking at moving to other brands’ products.
• They are happy to talk to their friends and relatives about you.
• They are willing to experiment with new products from your company.
• They are willing to talk, adjust and understand if there are any problems.

Nothing makes a company happier than having a large number of loyal customers. Studies show that loyal customers bring about 65% of the company revenue. They also spend more per visit than new customers and serve as a form of free advertising for the company. When a customer is willing to share their positive experience with a product or service with others, the likelihood of getting new customers, as a result, is significantly higher. So having loyal customers has a very positive impact on your company’s success. How do we go about making more of our customers’ loyalty?

Customer loyalty can be improved through a variety of marketing methods. Firms use various methods to secure return consumers, including customer loyalty points, incentive points, discount offers, and gift cards. However, other corporations may quickly copy these techniques, and loyalty becomes a pipe dream once more. Live chat experiences are difficult to duplicate. As a result, you can provide a personalised customer experience by creating a unique chat experience for the customers with the company.

How do you provide a unique customer experience?

You need to make sure that you provide the customer with real-time personalised communication. According to studies, 44% of customers are likely to buy again from companies that provide personalised services. Live chat thus becomes an effective marketing tool to assist you in providing that personalised service. More companies are starting to use this technology to communicate with their customers. Live chats allow for more personalised user interactions where users can connect instantaneously with the support professionals. In most of these situations, when done well, real-time interaction ensures favourable outcomes.

How live chat helps develop customer loyalty
One of the main reasons customers opt for live chat is their almost instantaneous response to their issues. This contributes to their becoming satisfied customers. Customers appreciate fast responses especially when they have marketing or sales questions. The difference between a website visitor and a happy customer can be as simple as that. Getting a prompt response without picking up the phone or sending an email via live chat is a significant factor in gaining customer locality. If a customer has to wait for a response from the company, the chances of a sale are less the more they have to wait for the response.

Another reason live chat improves client loyalty is that it allows customer interaction in real-time. With live chat, your clients are more likely to get the answers they want during their initial interaction with your company. The staff at your company comes across as competent and friendly, and your customers gain confidence in your brand, resulting in long-term customers. 

Customers buy from companies that value their time
There is an intriguing fact that is very impressive. Almost 4/10 customers expressed their willingness to buy from a company that offers live chat! Is that not amazing? Nearly a third of the selling work is done by having an active live chat widget displayed on your website. A customer will want to buy from a company that values their time and cares about them. Companies looking to make customers’ lives easier earn their loyalty more. Providing live chat support on their website indicates the company’s dedication to providing the customers with the best service possible. Live chat shows customers that your company is approachable and focused on their needs. To potential customers, communicating your customer-centric approach says a lot. It can give customers more confidence in their decision to do business with you, resulting in more conversions and purchases. However, the promise of live chat support has to be delivered effectively to gain its benefits.

Loyalty and upsell opportunities are created with real-time support.
When we talk about consumer behaviour trends, we are all consumers; significant advances in technology and culture impact our buying patterns. The mentality of immediate satisfaction is a perfect example of this. We can obtain nearly anything on demand thanks to technology—entire seasons of TV series, groceries delivered, 2-day shipping on millions of products… It goes on and on.

When it comes to customer service, the desire for rapid gratification continues. Gone are the days when you had to fill out a support form and wait days to respond by email. Customers demand effective, efficient, and real-time support. This is where live chat is helpful. We know that clients who receive immediate assistance are more likely to be satisfied and loyal. Live chat support that is seamless and speedy can help connect with customers better, develop that loyalty, and retain them for longer. Customer retention also has a significant impact on revenue. Loyal customers are worth their weight in gold. They are more likely to continue with you in the long run and to trust your business and suggestions, making upselling to them much easier.

Increased Revenues
What’s the bottom line? Customers who use a live chat function are 3 to 5 times more likely to purchase those who do not use the tool. Live chats are also an excellent way to upsell or cross-sell products. Your representatives can figure out exactly what your consumers want and assist them in finding it. Your consumers will be happy with the more tailored response to their needs, and you will benefit as well.

You save time and money by using a live chat function to convert more website visitors into satisfied and loyal clients. It’s a win-win-win situation for you, and it shows potential clients that you care about their queries and worries and want to help them as soon as possible. What could be more appealing than that?

Final comments on how to improve client loyalty
Anyone who owns a business understands the excitement of seeing familiar faces walk through the door. And, as previously stated, loyal clients account for the majority of recurring revenue, so going above and beyond to make them happy is worthwhile.

So, what’s the best way to increase client loyalty? Make sure you understand your customers’ demands and communicate consistently across all channels, both online and offline. Also, try out reward and subscription schemes. Keep collecting feedback to tailor your product and customer experience. Finally, there’s no better approach to learn how to enhance client loyalty than going and asking at the source.

Potential of Live Chat
It should be evident by now that live chat has enormous potential for increasing sales and encouraging client loyalty and retention. So why aren’t more businesses providing the type of live chat experience customers want? According to research, for live chat to be really effective it has to be efficient and done well. Otherwise, customers will not have a great live chat experience. Customers can drop out of live chat because of delayed or insufficient responses. Turning great live chat experiences into a competitive edge is what counts towards your bottom line. This is where LiveChat Agent has been making a difference. To learn more about how Australia’s top managed live chat platform works for you, visit our website or call Tracey at 1800 332 428. Learn how to get 24/7 coverage, multi-language chat support, cross-platform lead generation, etc., working for you, tirelessly! 

Also Read: Industries That Can Benefit The From Live Chat

• Author Details

Author Details

Tracey Horey

CEO of Live Chat Agent

Tracey Horey is a 20 year veteran of the Automotive industry and has been writing Automotive content and helping Dealerships optimise their digital space for over 15 years. Her experience working with various sized dealerships and her passion for exploring and understanding new tools for the auto industry has given her an in depth understanding of the challenges all dealerships face in a changing landscape.

accounts@livechatagent.com.au

1800 332 428