How to Survive & Thrive in Business

In this article you'll learn:

• Why you should build brand loyalty
• Some tips on how to do just that

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 Inflation rates are starting to ease, and we're expecting to see the cost of living start to decrease over the coming months.

This is good news for us in the luxury products market, as it means there will be more disposable income for people to spend on your beautiful products.

But, the problem is people have been used to cutting back over the past couple of years, so encouraging them to spend is going to be tricky.

This is why building brand loyalty is even more important than it ever has been in the past.

So how exactly do you do that?

Here are a few tips:

• Talk to your audience, as a person. This is hard for lots of people as it does require a level of self-confidence. Basically, you should experiment with posting videos to your audience of you talking to them, talking about your products, what you are working on this year. Or even better, go live on Facebook and Instagram and chat directly with them. Trust me, this builds a huge amount of brand loyalty.
  
  
• Host live shops. You can do this via your Facebook page or on TikTok. Go live to your audience and have items for sale, perhaps create an 'exclusive product' just for that live shop, or have a bundle offer available. Pack the orders on screen as they come in and chat with your audience. This shows your customers the process behind the scenes of what happens when you get an order - there's more appreciation for it, and you start to build that 1-2-1 dialogue with your customers.
  
  
• Gather feedback and make changes. Customers will have opinions on your products and service. You should directly ask them via social media and email for their suggestions on things to improve. You will get some wonderful ideas submitted to you. Go above and beyond to implement some changes. This shows your customers that you value their opinions and want to work together with them to improve their experience with your business.
  
  
• Show behind the scenes. Post pictures and small video clips of you making your products, your workspace and more. People love to see how things work behind the scenes, it's something we did at Cosy Aromas from day 1 and helped us to build a very loyal Facebook audience.
  
  
• Introduce a loyal scheme. One of the more obvious ones, but this works so well. Encourage people to save up their points for discounts or free items. This is a significant factor into how we have built a business with a 60% returning customer rate at scale. Google Smile.io - that's the system we use, it's so simple to set up.

This is the year for growth, and you need to capitalise on this time to get ahead of your competitors.

Good luck with everything!

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