5 Ways Successful Companies are Investing in Their Customer Bases

Looking at the ways successful companies are investing in their customer bases is a great way to see what other companies did in the past and what you can do with your own company. As your customer base grows, you will notice an increase in profits and a boost in positive customer experiences.

Using Social Networking

One way these companies reach out to customers is via social networking sites. These sites allow those companies to respond to customers faster than ever before. Instead of calling in and waiting on hold or spending weeks waiting for a response through the mail, social networking sites let company reps respond to customers within a few hours or less to let them know that the company cares.

Launching Loyalty Programs

One of the best ways successful companies are investing in their customer bases is through loyalty programs. A great example of a good loyalty program is the one offered by Speedway. This chain of gas stations offers customers a free card that they scan every time they buy items from the chain or purchase gas. They get points for each dollar they spend on all qualifying products. Customers can exchange their points for discounts on gas, gift cards to the chain and gift cards to other stores and restaurants like Old Navy and Red Lobster. This encourages customers to spend more to get more back.

Giving Them What They Want

Amazon ranked as one of the top shopping sites on the web but experienced some problems after its first Amazon Prime Day. Though the site promised that shoppers would find steep discounts on everything from furniture and electronics to collectibles and movies, the final sales included items discontinued by manufacturers and clearance merchandise. After listening to feedback from customers, the site completely changed the way future Amazon Prime Days would operate and offered bigger discounts on more products. Listening to customer feedback and giving them exactly what they want is just one of the ways successful companies are investing in their customer bases.

Partnering with Other Companies

Partnering with other companies is another of the ways successful companies are investing in their customer bases. One of the best examples of a partnership between two companies is the partnership between Kroger and Shell. Kroger is a grocery store that sells thousands of products, while Shell is a gas station and convenience store. After starting its loyalty program, Kroger partnered with Shell, which helped both companies increase their profits. Shoppers can now get Kroger points when buying fuel and other items from Shell, and they can build up their points to get discounts on gas purchased through Shell and Kroger stations.

Offering Customized Options

Joseph Pigato of Entrepreneur points to Etsy as having one of the best customer experiences online. While other sites recommend that customers search for items and use specific keywords, Etsy encourages shoppers to browse for related or similar items and to customize their experiences. This is one of the top ways successful companies are investing in their customer bases because it allows customers to personalize their experiences and get more out of the site. Etsy even lets them create their own virtual bulletin boards of items they love that they can share with others.

Successful companies know that investing in their customers will help increase their profits and make their customers more loyal too. Top companies like Kroger and Amazon learned through trial and erorr which methods work best. Some of the ways successful companies are investing in their customer bases include introducing loyalty programs, partnering with other companies and giving their customers exactly what they want.

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