Most people have a favorite brand. Therefore, this brand is often their go-to when they need a product, the one that is foremost when they recommend to friends and family, the one that they’ll go to any length to get. Building your relationship with your customers so that they feel this way about your brand, is building brand loyalty. And of course, there are ways to leverage it and make it better!

What is brand loyalty?

Brand loyalty is your customer’s commitment to the brand. It refers to how much they love your brand, how frequently they purchase its products, irrespective of discouraging factors or alternatives, and how attached they feel to them. Brand loyalty is important in business because it automatically results in increased revenue and popularity. When your customers are loyal to the brand, they not only pay for your products and services whenever they need them, but they also recommend them to others, and the business’s products and services are given a high sense of perceived importance to others.

Customers pay for the value even if it is high when they are loyal, and they are also often reluctant to try other brands. Loyalty makes them form a sort of connection with the brand that they recognize it whenever they come across it, talk about the services in random conversations and trust the brand.

How to build brand loyalty

Here are a couple of things you should be doing to build your brand loyalty to meet your targets.

• Meet customers’ expectations: There is no shortcut to building your brand’s loyalty if you are not meeting customers’ expectations. Deliver value as promised and you’ll find your cusomer base expanding in no time. Delivering quality ensures that new customers get to enjoy the benefits they are promised and then can stick to your brand, and become a fan.

• Create a brand: Customers cannot connect with you if there is no brand. Create a brand for your business, and sell it across all platforms. Be recognized for what you do, what you can do, and the value you offer. Have a message/story that connects your customers to the brand through their needs.

• Engage Customers/Users: You want to know how to make customers happy and loyal? Engage them. Answer inquiries, make surveys, give incentives and rewards, interact with them on social media platforms, solve problems very fast, and follow up.

Leveraging brand loyalty with Chimoney rewards cashout API

If one of the ways you can engage your customers is through delivering value, why not deliver it the best way? Although organizations often offer great sign-up bonuses, good cash-back options, discounts, and tokens, a Business Insider article reported that only 38% of people regularly redeem them. What happens to the other 62%? They do not use these values because they are useless to them. Oftentimes, customers lose the value of their rewards because they cannot use them; in turn, businesses lose the brand loyalty benefit which ought to come with the reward.

But, what if customers could turn every reward into something they want, irrespective of what you give? Chimoney gives them that flexible gifting option.

When integrated, Chimoney Rewards Cashout API allows users to turn rewards into values of their choice. As long as project owners, organizations, or businesses give rewards, points or tokens, Chimoney Rewards Cashout API builds brand loyalty by opening up the reward option to offer them top brand gift cards, airtime, Mobile Money, bank deposit, and more to come. It removes the barrier placed by country-based currencies and spendable values, to engage customers and improve brand loyalty internationally.

Why use Chimoney rewards cashout API to boost brand loyalty

• Creative incentives: With the onboarding of various projects like the wearable NFT, different gift cards, and others, customers have access to innovative incentives they’ll love your brand for giving.

• Accelerate engagement rate: Brand loyalty and engagement go together. Offering your users exciting options keeps them engaged and has them coming back to the brand.

• Reduce churn rate: Incentives are given to further keep customers and make the user experience enjoyable for them. Utilizing the Chimoney Rewards Cash out API, reduces churn rate, as these choices encourage them to stay with the brand and enjoy all the offers and promotions made available.

• Reactivate old customers: With the API, old customers who might have left the brand are encouraged to return. Especially old customers who have accumulated points and tokens in previous months, but could not use them. They return to utilize their digital rewards, and in this way patronize the business again, renewing the relationship.

• Increase brand advocacy: Shep Hyken, customer service, and customer experience expert said the best advertising you can have is a loyal customer spreading the word about how incredible your business is. When you build your brand loyalty with the Chimoney Rewards Cash out API, customers willingly become your advocate. They spread the word about your offers, the choices available, and how none of their accumulated assets go to waste.

Make the choice to grow your brand loyalty

Your brand is important for your business, so it should never be below par. Deliver your services well and you can expect to have your customers committed to purchasing your products or services irrespective of the price. Appreciate their loyalty by giving bonuses and gifts, and they'll stick with your brand even more.

Clients love when brands see their commitment and appreciate it. If you do not want to go the way of product gift, or services discount, you can give a gift with a spendable value, like Chimoney. Make the choice for your business to grow with innovative solutions today.