How to Build Customer Loyalty in Competitive Markets

Creating Raving Fans

Insight from First Round

With budgets tightening, sales pipelines have shrunk across the board.

To combat this, you should build up your customer champions to ensure you hit your sales goals.

Advocates who rave about your product can improve your business 10x fold.

To create raving customers, try to build out programs dedicated to building out their loyalty.

Try this:

1. Start with a Small Event → Focus on understanding customer’s needs and align them with company goals. Begin with a specific small program like a cocktail rooftop experience. 

2. Identify What’s Working → Concentrate on one program at a time to gauge its effectiveness. Get third-party reviews as a successful strategy to convert potential users.

3. Focus on Small Touches → Unique details can distinguish your events from competitors. Using the same example as the rooftop cocktail party, you could give guests personalized bottles of alcohol or a cocktail named after the guest speaker.

4. Offer Unique Value → Differentiate your offerings to make them appealing, especially in competitive spaces. An example is introductions to investors and networking opportunities.

5. Avoid Getting Distracted by Shiny Metrics → Focus on meaningful engagement and genuine customer partnerships rather than superficial metrics like open rates.