Customer loyalty strategies in pricing

Customer loyalty is a fundamental aspect in the strategy of  any business, when we establish a good strategy we guarantee  long-lasting and profitable relationships with consumers.  

For this we must take into account who our target audience is,  and what are their expectations when consuming our products, once we understand this, we must establish an effective  strategy that allows us to build loyalty and build a lasting  and profitable relationship.  

Here we explain the types of customers you should identify and  possible strategies to build customer loyalty:  

1. Butterfly customers: also known as «volatile customers»,  are those customers who are inconsistent in their buying  behavior and loyalty to a brand or company.
   These customers tend to try different options, compare  prices and do not show a strong preference for a  particular brand. They are so called because they are  similar to butterflies, as they go from flower to  flower, without staying in one place for a long time.
   In the context of customer loyalty, butterfly customers  represent a challenge, as they require special  strategies to retain and build loyalty. These strategies  may include:
   • Incentive offer: Identify butterfly customers: analyze  your customers’ buying behavior to identify those who  are inconsistent in their loyalty and could be  considered butterfly customers. Use data and analytics  to segment these customers and better understand their  buying patterns.
     • Customize offers: Once you have identified your  butterfly customers, customize incentive offers for  them. Consider their preferences, purchase history  and previous behavior to offer them relevant and attractive incentives. You can send them exclusive  discount coupons, limited-time special offers or  customized rewards programs. 
     • Create a sense of urgency: to capture the attention  of butterfly customers and motivate them to act,  create a sense of urgency in your incentive offers,  you can set deadlines or deadlines for them to take  advantage of discounts or promotions, which will  give them a reason to take action quickly. 
     • Offer additional benefits: in addition to discounts, consider offering additional benefits,  this may include free shipping, additional gifts or  exclusive access to special events or content. These additional benefits can make them feel valued  and motivated to maintain a longer relationship  with your brand.
     • Track and evaluate: monitor the impact of your  incentive offers on butterfly customers. Analyze  whether they have increased their loyalty or shown  greater commitment to your brand after receiving  the offers. Make adjustments based on the results  and continue to optimize your incentive strategies  to meet the changing needs of these customers. 

Personalized promotions: Taking into account the above  information, you can also offer personalized promotions  that fit the needs or desires of your customers, for  this you can:

1. Use automation and marketing platforms to implement  personalized promotions efficiently. These tools  allow you to send targeted messages to customer  segments, based on their characteristics and buying  behavior. 
2. Communicate promotions effectively, use communication channels that are relevant to them,  such as email or social media advertising. Highlight the specific benefits they will get by  taking advantage of the promotion. 
3. Track and evaluate, analyze response rates,  increase in purchases and customer retention. Use  this data to adjust your strategies and continually  improve personalized promotions. 

Shopping experience:

1. Personalize the experience: Use the information  collected to personalize the shopping experience  for your butterfly customers. Offer product recommendations based on their interests and preferences. Use segmentation techniques to send  relevant and personalized communications. 
2. Simplify the checkout process: make sure your  website or shopping platform is intuitive and easy  to use, reduce the number of steps required to  complete a purchase and offer fast and secure payment options. 
3. Provides excellent customer service: Quality  customer service is critical to keeping butterfly  customers satisfied. Respond quickly to their inquiries and concerns, provide personalized assistance, and resolve any issues efficiently and  effectively. 
4. Ask for feedback and improvement: Ask your butterfly customers to share their opinion and  shopping experience with you. Use surveys, comments  and reviews to get valuable feedback to help you  continually improve the shopping experience. 

2. True customer friends: True customer friends are those who  have a long and loyal relationship with a company. These  customers are highly engaged and have an emotional connection  with the brand. They are advocates of the company, recommend  its products or services to others and are willing to pay a  premium price. True customer friends generate significant value  for the company through their loyalty and their ability to  positively influence other potential customers. Establishing  and maintaining strong relationships with these customers is  critical to loyalty and sustainable business growth. 

These customers do not really need a loyalty strategy as such,  but you can carry out actions to maintain their loyalty:  

Offer loyalty programs: Implement exclusive loyalty  programs for customers who are true friends, where they  can access special benefits, discounts or additional  rewards. These programs strengthen the emotional  relationship with the brand and provide them with  incentives to remain loyal. 

Personalize the experience: Provide a personalized and  relevant experience for each true friend customer. Uses  data and analytics to understand their preferences,  interests and shopping behaviors, and uses that  information to deliver recommendations and promotions  tailored to their individual needs. 

Encourage two-way communication: Maintain constant,  two-way communication with your customers who are your true friends. Listen to their opinions, comments and  suggestions, and show them that you value their  feedback. This creates a sense of belonging and makes  them feel that their voice is heard, further  strengthening their connection to the brand. 

3. Strange customers: in the context of customer loyalty,  strange customers refer to those who make a single purchase  and then do not interact with the company again. They are  transactional customers who do not develop a long-term  relationship with the brand. Unlike loyal customers, oddball  customers do not generate ongoing value for the company and do  not contribute significantly to its growth. However, while  alien customers may not be loyal, they still represent an  opportunity for companies, as they can become repeat customers  if appropriate retention and loyalty strategies are  implemented. 

For this type of customers, you can implement the strategies  mentioned above, adding a very important point:  

Implement follow-up programs: Establish follow-up  programs to keep in touch with strangers after their  first purchase. Send personalized emails, newsletters or  periodic promotions to remind them of your brand and  keep them interested. 

4. Perceived customers: are those who strongly adhere to a  brand and are difficult to disassociate. They are extremely  loyal customers who show great resistance to change or try  competing products or services. Just as barnacles stick firmly  to rocks, these customers have a strong and lasting connection  to the brand, making them enthusiastic advocates and active  promoters. Their continued loyalty generates a significant  impact on the company’s growth and reputation. The key to  harnessing the value of barnacle customers is to provide them  with an exceptional experience and consistently maintain their  satisfaction and commitment to the brand. 

This type of customer is 100% loyal, but it is important that  you show them that they are important to the brand:  

To retain barnacle customers and strengthen their loyalty to  your brand, consider the following strategies:

• Provide rewards and recognition: create an exclusive  rewards program for barnacle customers, where they can  get additional benefits, special discounts or access to  exclusive events. Recognize and thank them for their  continued loyalty, which will motivate them to remain  loyal to your brand. 
• Offer exclusive products or services: Launch exclusive  products or services for percebes customers that are not  available to other customer segments. This will make  them feel special and valued, reinforcing their loyalty  and creating a sense of belonging to your brand. 

Remember that barnacle customers are valuable assets to your  business. Implementing these strategies will help you keep them engaged, satisfied and willing to keep choosing your brand  again and again.

Customer loyalty is a fundamental strategy for the success and  sustainable growth of any business. Retaining existing  customers is more profitable and effective than acquiring new ones. By maintaining a loyal and engaged customer base, you  generate benefits such as repeat purchases, positive recommendations, increased profitability and a solid  competitive advantage.