At the end of the day, customer loyalty is what helps companies thrive. To grow your pool of loyal customers, it’s a good idea to evaluate how happy they are. With a customer loyalty survey, you can discover what it takes to retain business in the long run. SurveyPlanet is here to help you create a survey that delivers the insights you need to keep consumers coming back for more.
Customer loyalty is when someone chooses your company’s services or products consistently over your competitors’. They usually aren’t persuaded by competitor’s prices or availability. Instead, they trust your brand and continue to give you their business because they understand the value you add. Plus, they also tend to recommend your products and services to other people they know.
Customer loyalty is important because acquiring new patrons actually costs much more than retaining old ones. When you establish this allegiance to your brand, you’re securing your company’s future. They help your business thrive consistently, so you never have to worry about taking a hit.
By investing your time and energy into your current clientele, you’re not just preventing them from leaving, you’re also creating an opportunity for growth. When you have devoted customers, they become walking advertisements for your brand. It’s likely they will tell everyone they know how much they enjoy your brand and will convince others to give you a try as well.
In the end, loyalty will lead to higher profits for your company. If you want to retain business, conducting a customer loyalty survey is an easy way to pinpoint what exactly makes them happy or sad so that you can strategize how to give them a higher satisfaction.
There are several different ways to measure a consumer’s devotion to your brand.
Customer Lifetime Value (CVL) – The CVL measures how much value someone will bring your company over their lifetime. Instead of assessing individual purchases, this number will help you protect your company’s future success.
Repeat Purchase Rate – You can also measure your customer’s loyalty by determining your repeat purchase rate. This is a percentage of your entire client base that conducts repeat business with you.
Net Promoter Score (NPS) – The net promoter score is a questionnaire you send your customers to see how likely they are to recommend your services or products. The survey asks respondents to answer on a scale of 1 to 10. If their score is 6 or lower, they’re considered detractors. Those who answer 7 or 8 are passive and those with an answer of 9 or 10 are promoters. You calculate your NPS by subtracting the total number detractors from the total number of promoters. This number tells you how many people are likely to recommend you.
Survey – With a survey, you can evaluate your customers’ satisfaction, trust, brand esteem and your company’s perceived value and quality. Asking questions related to these subjects can give you insight into the areas that make someone devoted to your brand.
Once you send your customer loyalty survey, start preparing for the analysis phase. When you review the data you collected from your survey, review answers to see trends in different areas. First, look at the questions related to satisfaction. This will tell you whether consumers feel an overall satisfaction or not. You can also look at individual questions to pinpoint certain areas of satisfaction regarding particular products or customer service.
Next, evaluate the customer loyalty survey questions you asked related to trust for the company. The answers will tell you if your people trust your brand and what encouraged them to do so. Looking at questions related to brand esteem will also tell you how your customers feel about your brand in regards to familiarity and if it’s recognizable.
Lastly, you will evaluate how consumers perceive your quality and value. Do they find your services and products a good value? Are they high-quality compared to your competitors?
Analyzing your survey will tell you which areas are producing the most loyalty and which aren’t. Once you figure out your company’s problem areas, you can address them to help more consumers become devoted.
If your company offers a loyalty reward program, feel free to also include customer loyalty program survey questions in your next survey. These results will tell you if your program is effective at retaining business or not.
With help from SurveyPlanet, you can create your own customer loyalty survey questions like the following.
If a competitor sold the same products in a more convenient location, how likely would you switch?
Start creating your own survey today to increase your number of loyal customers down the line. SurveyPlanet offers all the tools you need to get started, including pre-made surveys and customer loyalty templates. Sign up for a free account or log in today to get started.