Customer loyalty refers to the strategic practice in which organizations and businesses use to attract and retain customers through the provision of better services and marketing strategies.

Establishing customer loyalty involves creating a bond between the business and the customers; this may be accomplished by providing the customers with memorable services and meeting the customers’ requirements successfully.

Most companies, as well as small business owners, find it difficult when nurturing customer relationships because they have limited resources and times. Customer retention is essential for every small business owners since customer acquisition is costly than customer retention, and loyal customers are more likely to return to the business.

Benefits of nurturing customer loyalty
· Profit: increasing customer retention boosts business profits.
· Effort: The possibility of selling to a loyal customer is higher than that of a new customer. This is because loyal customers are knowledgeable about the business are ready to try new items.
· Cost: As previously mentioned, the cost of attracting new customers exceeds that of retaining the existing customers. Therefore, a successful business should be built towards nurturing customer loyalty.
· Feedback: Loyal customers are more likely to offer genuine and honest business feedback through activities such as surveys and online reviews.

Ways for nurturing customer loyalty

1. Focusing on customer experience
The growth and success of the business mainly depend on the experience the customers acquire from the products or the services provided to them. To improve customer’s experience, it is necessary to examine the customers’ behaviors and also evaluate how they engage with the business and the products as well as the services offered to them. Implementing a proactive approach may enable small businesses to track events and also customize the experiences of all the customers.

2. Interact with customers
Many small businesses fail to follow up and to maintain ongoing and continuous communication with their customers. It is recommended that small businesses should interact with their customers regularly through mediums such as emails, social platforms such as Facebook, Instagram, Twitter, and other online marketing channels. Keeping in touch with the customers makes them feel appreciated, and they are more likely to become loyal customers thus referring to other potential customers to the business.

3. Reward loyal customers
Honoring and appreciating the loyal customers are effective ways of rewarding the regular as well as loyal customers. The rewards need not include the most expensive products. Instead, they may comprise of gift vouchers, coupons and may also consist of thankful e-cards. This may help in strengthening the business-customer relationship and can also make the brand remembered by the customers, thus winning their loyalty.

4. Get feedback
Small business should maintain a personal relationship with their customers. Through this strategy, it is easy to listen to the customers and their views, feedback, and suggestions about the products and services offered to them. The inputs gathered help in the business in rethinking and changing their research as well as development programs to develop better and more innovative products and services that can meet the customer needs and increase their satisfaction. This is vital in increasing customer loyalty.