Operating a franchise is a lucrative endeavor for many business owners. However, it is often highly competitive. According to research from the Small Business Association (SBA), a new franchise opens up approximately once every eight minutes over the course of each business day. Franchise owners can compete for customers who can choose to engage with similar businesses or entirely separate industries instead. One way to ensure revenue is to retain a dedicated consumer base through customer loyalty. A look at the best ways to foster customer loyalty can position your franchise to reap the benefits of commercial success.
Create a Rewards Program
A rewards program shows customers that you appreciate their time and money. Most customers feel that they work hard for their money, and they respond well to acknowledgment from businesses they choose to support. Rewards programs should offer exclusive deals or limited-time discounts for loyal customers. These programs should use a tiered system with benefits that increase over time. This means that the more a customer more frequently the customer visits your franchise, the more coupons or rewards they can earn.
Successful rewards programs also include elements of gamification. This means using gamified features like points, badges, coins, or leaderboards that increase engagement. You can offer a referral program that gives customers discounts or extra points for inviting friends and family. Finally, rewards programs offer the opportunity for personalized communication like birthday greetings or membership anniversary milestones. This streamlined communication can boost customer loyalty consistently throughout the year.
Master Local Search Engine Optimization
Many customers use mobile or browser search engine optimization (SEO) to find local businesses. For example, a customer may use a search engine to get instant directions to a nearby franchise or to read instant reviews of a product or service. For this reason, it is imperative to master local SEO to keep your business at the forefront of your customers’ search results. Start with accurate contact information and a content-rich website complete with relevant keywords. Consider hiring a local SEO company or gradually build relevance by posting engaging content, keywords, title tags, and backlinks each week.
Leverage Local Social Media
Social media offers a unique platform for direct interaction with customers. Use social media to foster relationships with customers by making consistent posts that include everything from sneak peeks to interactive polls. Your social media page should include a healthy balance of text, photos, and short video clips. It should also include the most up-to-date business contact information, such as the franchise’s telephone number, physical address, and email address. Since many customers message businesses directly from their social media pages, you should also respond to customer concerns in a timely manner. This can encourage positive reviews and ratings to improve your brand’s reputation.
Engage With the Surrounding Community
Community engagement is an important way to boost connectedness among customers. Host meaningful events such as educational workshops or fundraising initiatives named after local causes. For example, a food business can host a free taste test for local consumers on a first-come, first-served basis. A franchisee can also have an open house for a product launch and donate a percentage of the first-day proceeds to a local charity. This can remind customers to patronize your business while giving them the chance to give back to society.
Customer retention is an ideal way for franchise owners to secure consistent income. By finding ways to improve customer loyalty, you can ensure an active stream of revenue that helps your business thrive.
Published by Charlie N.
