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How are you currently building brand loyalty for your contact center? A strong, loyal base wouldn’t be fazed by your competition, boosting your customer retention rates. In fact, sixty-seven percent of customers say that they must trust the company behind the product, otherwise they’d go elsewhere. It is easy to see why every business should have effective brand loyalty-building strategies: to keep your customers and scale your company.
Many companies assume that they know exactly how their customers feel about them based on revenue, online reviews, or social media likes. Although those metrics do tell a story, companies that rely only on them don’t always have the most accurate insight.
What is brand loyalty?
Not to be confused with customer loyalty, brand loyalty is built on the reputation that precedes your company in whatever market or industry you’re in. It’s that special affinity that customers have for your product or service that keeps them coming back to do business with you and only you.
A lot can impact brand loyalty, and while customer and brand loyalty are similar they break along different patterns of behavior. Where customer loyalty is heavily influenced by things like consistently low prices or regional convenience, brand loyalty is swayed by more intangible factors like positive associations with your employees, ease of doing business, and general impressions related to interactions and experiences. How easily customers can communicate with you, how easy your website is to navigate, whether you respond to inquiries and requests in a timely fashion call play a role in building brand loyalty.
Especially because the way we communicate is drastically changed these days, with so much of the day-to-day transacting we do being conducted online, customers expect a more personalized experience when it comes to communication preferences with the brands they do business with. Fifty percent of customers have stated that they would not stay with a company that doesn’t meet their needs, so it is important to satisfy those needs by offering different channels of communication.
Are there tools that can help impact brand loyalty?
Understanding and acting upon your customers’ feelings toward your brand, how they perceive you, what they say about you, and then incrementally incorporating that learning into personalized touches during their next interaction with you helps build a solid foundation for brand loyalty. Read on to learn how to make sure your customers feel heard and valued.
You have to know how your customers feel to build brand loyalty
Contact center technology has evolved significantly over the last decade. As a result, companies have a better idea of what their audiences want more than they did ever before. LiveVox’s Sentiment Analysis, which is part of the Speech IQ product line, is a great tool that contact centers use to gain insight into their customers’ feelings towards their products and services.
Sentiment analysis works by transcribing every interaction between customer and agent into text. The data is converted into a report format and provides managers records of every call. Managers can easily see and find popular phrases or keywords customers are using.
Use AI to understand what your customers really want
No, we don’t mean in an unsettling sci-fi type of way – no one expects to read minds! Sentiment analysis, however, does allow companies to get a good idea of their customers’ needs because the words are truly coming straight from them. Quality improvement possibilities are endless using Sentiment Analysis. You can pick up on trending keywords indicating a specific problem customers are having and target it as a solution.
Find out what customers are loving or what they wish your business offered and implement those ideas next quarter. The RoI that Sentiment Analysis provides is invaluable because it shows customers that they matter to your company. This helps build the loyalty to your brand that will help your business grow because your customers will feel heard and understood.
Personalization is key to lasting value
Companies that use an omnichannel platform are better equipped to provide a personalized experience for their customers. Consumers now have numerous ways to communicate. SMS, chat, email, phone, and social media are all available. Each customer has their own preference. When a company does not offer its preferred mode of communication, it can become a pesky problem for a customer.
LiveVox’s omnichannel platform integrates all modes of communication into a unified platform. This streamlines workflows for agents and provides customers with all the options they need. For example, a customer who is having a busy day may need to check a balance due, but they do not have time to log on to their computer to check. Calling the company would be out of the question.
Their question can be answered in five minutes using the LiveVox SMS and chatbot feature. They simply type in their question and the virtual agent responds with their answer. Eighty-two percent of customers consider a rapid response from a company as extremely important. When you provide different communication options and save customers time, you are helping build brand loyalty since the value of convenience is important to them.
Building brand loyalty does not have to be a difficult process. Using automated workflows like the ones LiveVox offers through its omnichannel platform and Speech IQ creates positive customer reviews. You obtain valuable insight into your audience’s needs. Both of these factors will undoubtedly create long-lasting, loyal customers.