Successful brands make a point of building long-term relationships with customers. It’s a crucial step in a company’s growth. But it takes more than exclusive deals and special features. It requires support, transparency, and communication.
The lifetime value of a customer is an important metric. It’s the average amount of money consumers spend on a company over their lives. Many businesses refer to LTV for budgeting and future expectations.
What happens after their initial purchase determines if customers become repeat buyers.
Here are seven ways to foster long-lasting relationships.
Produce ongoing product usage emails, videos, or posts. One of the main reasons Fitbit users are loyal is the ongoing encouragement. Fitbit sends a weekly stats email, showing how you align with other steppers. It also sends milestone messages, such as when you hit 1 million steps.
Likewise, MyFitnessPal publishes blog posts about exercise and healthy eating. And when you buy an Amazon Echo, you receive regular updates about how you can use Alexa.
Most brands can benefit from customer spotlights. Showcasing how folks use your products keeps your brand relevant. Cricut, shown below, is a maker of consumer cutting machines. It features customers and how Cricut products fit into their lives.