When we think of re-investing the profit of our business, we often think fo this as a structural means of improving our operation. There’s nothing wrong with that. You might wish to hire more staff, curate an additional department, or even acquire another business in order to integrate a huge amount of functionality and personnel into your brand should you wish to.
One thing that isn’t always thought of, however, is that of investing in your audience. Goodwill can count for a lot in business, as its the one resource you absolutely need for dependable growth but never a resource you can really quantify or measure, you just know it when it’s expressed.
Thankfully, investing in your audience is nearly always a good way to curate goodwill and to keep loyal customers around, and new customers more likely to come back to you. In this post, we’ll discuss a few ways increasingly online businesses can make the most of their loyal fans and supporters, and to what degree this will have an effect on your business:
Craft A Community
Crafting a community out of your audience can be a great way to bind them together and help them feel part of a worthwhile ‘club,’ even tangentially. Using an excellent community building platform can provide the means to help your audience feel as though they are valued and have the tools to express themselves or join other fans of your brand as necessary. For instance, this is the reason many brands manage forums that allow for conversations surrounding their products and direct feedback, as it curates loyal followers that are more likely to support and aid a company in its development.
A Loyalty Points Scheme
A loyalty points scheme may seem like a relatively artificial means of attracting an audience to begin with, but the process can really work and truly does offer something worthwhile for many people. For instance, a repeat buyer or user of your services may find that the tenth time they purchase something, they are given a certain discount. Or, a loyalty credit scheme can mean that redeeming a range of rewards thanks to regular support is more possible, incentivizing them to come back and spend with you. In that regard, you’re sure to benefit.
Celebrate Your Audience
It’s good to celebrate your audience as necessary. For instance, for your five-year anniversary as a firm, perhaps you could ask for photos of your customers enjoying your products or service and proudly display them on your social media pages. It’s little efforts like this that help your customers feel connected to your firm and even part of its story, as opposed to a disconnected entity that only buys from you because they can. That kind of brand goodwill cannot be bought, it can only be nurtured ahead of time, and celebrating them in that regard can work wonders.
With this advice, we hope you can invest in your audience properly, benefiting both parties as a result.