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Here’s An Incredible Sales Formula That Drives Loyalty

In-N-Out is an excellent example and the music sharing service Spotify has even benefited from it.

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Here are a few steps to get started:

 

  1. Cut strategy that doesn’t align with core values.

    Reexamine and reconsider your mission and values. If you value creating lasting, deep bonds with your customer, make sure your strategy aligns with that goal. Cut out whatever doesn’t line up, no matter how difficult the short-term ramifications are. You may end up replacing your promotional strategy with a purely engagement-driven strategy.

  2. Gain a deeper understanding of what your customer values.

    Customers want more money left in their wallets, yes, but there are many other ways to engage and deliver value beyond dollar or percentage-off discounts. Upgraded shipping, exclusive perks for your most loyal customers, access to particular products or services, or just a simple (and personal) gesture or email all go a long way. Case in point: Amazon charges customers $79 a year for Amazon Prime access, with perks like instant media streaming and upgraded shipping speeds. Zappos has a VIP group with similar perks.

  3. Think about your accidents, and how you made up for them.

    Some of the greatest business insights come in the form of rectified mistakes, like the USPS’ famous inverted Jenny. Last time a shipping or service delay occurred, you may have compensated your consumer beyond a refund. Did it work? If so, you may have hit on a way to earn a loyal consumer that you can reuse later.

  4. Combine the principles of exclusivity and scarcity.

    Nike recently created a small (scarce) number of access codes to grant users the ability to wear products that were in an exclusive release phase. In doing both, they created even greater excitement and engagement for their most committed fans.

You can replicate these brands’ success stories, too. Start by empathizing with your customer and meeting their needs without sacrificing your own goals. You’ll build more sustainable relationships — and earn some lifelong customers — in the process.

 

This article has been edited and condensed.

Aman Advani is Co-Founder and President of Ministry of Supply, a menswear company focused on creating a new category of clothing, Performance Professional, through a collaboration between experienced engineers and seasoned fashion experts. Connect with @amanadvani on Twitter.

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