Want to Earn Your Fans’ Loyalty? Do This
Fun (or maybe not-so-fun, depending on your perspective) fact: It costs five times more to acquire a customer than to retain a customer (according to the authors of Loyalty Myths).
So in the interest of keeping your fans happy and earning their loyalty, check out these tips from Kissmetrics. They pointed out four ways to earn your customers’ loyalty. You can read all four here and see the two that pertain most to live entertainment below:
“1. Desire to Belong
Let me ask you a question:
Why do people own a Mercedes?
Do you think it’s because its amazing hydraulic suspension system, the premium painting, or even its leather seats?
No way! Cheaper cars offer very competitive features. Why would people spend thousands of extra dollars to buy something that’s just slightly better than other cars? Well, it’s simple. They want status. Believe me, people will do crazy things to keep their status “intact” – like spending their hard-earned money on expensive, yet unnecessary items.
This behavior is called “Conspicuous Consumption,” which refers to the display of wealth for the purpose of acquiring or maintaining status or prestige.
Now you might be thinking:
“Great! But, how can I apply this into my business?”
I’m glad you asked. By labeling your audience, you’re able to trigger this strange, yet powerful desire and use it to your advantage.
Here’s what I mean:
A few years ago, an experiment revealed that people do like being labeled as long as it implies some kind of superior characteristic.
For example, when Volvo discovered that its customer base had one of the highest educational levels within the car manufacturing industry, they immediately publicized the fact. Surprisingly, a few years later, when Volvo conducted the survey again, that percentage increased.
This was caused because other highly educated people wanted to be part of the group of “smart Volvo owners.” How do people feel when they use your product?
Copyblogger applies something similar on its famous “Internet Marketing For Smart People” Ebook. The simple fact they include the word “smart” entices more people to download it.
Remember, people do like to be labeled and, as a marketer, your task is to awaken that inner desire of belonging in your audience.
Do it, and they’ll remain loyal for a long time.
2. Keep It Simple
The other day, I stumbled upon two astonishing facts:
- 81% of consumers admit that it is frustrating dealing with a company that does not make it easy to do business with them.
- 86% of potential buyers are more likely to make a purchase with brands that simplify the customer journey, according to Harvard Business Review.
Said simpler: Nobody likes complicated stuff. Period.
Sadly, most companies do just that. In hopes of “impressing” their audience, they complicate everything – they use fancy verbiage, complicated business concepts, and even tricky products.
On the other hand, savvier brands ALWAYS simplify the path.
Dollar Shave Club is the perfect example – they simplified the annoying, tedious task of getting out of your comfortable house to buy a new razor. For only $1 per month, they’ll ship 2 stainless steel blades and 5 cartridges to your home every 30 days.
Simple, don’t you think?”