Is Customer Loyalty Lost Forever?
Posted by Meredith Estep on Tue, Jan 24, 2012 @ 07:33 AM
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In hard economic times, some businesses make the mistake of thinking that customers are looking for the lowest price and nothing more. However, when money is tight, customers are often in search of the best value, which takes into consideration the quality of the product and the price, but other intangible features, like service quality, as well. For companies dealing with the current recession, it is important to note that 80 percent of your business will come from 20 percent of your customers. That steady, loyal base is an essential feature to a successful business in any type of financial climate. We’ll show you how to create customer loyalty in a few easy steps.
Start with Your Employees
To encourage loyalty among your customers, you must begin by encouraging loyalty among your staff. Employee retention is a strong asset in building customer loyalty because customers like to get to know the people who serve them on a regular basis. Fair business practices, a positive working environment and an incentive bone thrown from time to time will go far in keeping happy employees that stick with your company over the long haul.
Practice Consistency and Reliability
Customers want to know what to expect every single time they walk in your door. If they receive outstanding service one visit and mediocre quality the next, your credibility with that customer will begin to lag. At a minimum, customers should receive fast, accurate courteous service every time they come into your business. Anything less from your CSRs should not be tolerated.
Build Relationships
Yes, building relationships with customers takes some time and effort, but the rewards can be far-reaching indeed. When customers feel like they connect with someone in your office, they are more likely to return to your business each time a need arises. Customer service reps should be committed to learning something about each customer that walks through the door, from the customer’s name to his favorite sports team. Discovering their favorite products and services from your business is also a must so you know how to incent him to return to your company over and over again.
Sprinkle Incentives into the Mix
Customers like to feel appreciated, and nothing shows appreciation for their business more than an incentive program. Discounts, the occasional freebie, and even customer appreciation days go a long way in letting customers know you appreciate their business. With the rise in technology use, consider a smartphone app that works in a similar way to a rewards program, but without the paperwork.
Customers are just like anyone else – make them feel special and appreciated and they’ll keep coming back for more. Companies with the misconception that customer loyalty is a lost art are missing out on some of the best ways to build a solid customer base and boost their bottom line. With these tips in place, you can rest assured the customers that come through your doors today will be the same ones that continue to come through your doors time and time again.
- Meredith Estep