Customer Loyalty - How Do You Develop It?

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The 20th century business model focus was labor intensive. Creating satisfied customers or leveraging customer satisfaction was the goal. However, the 21st century has changed the marketplace forever.

With the click of a mouse thanks to the dramatic impact of ever changing technology, your satisfied customer can leave and become easily satisfied by your competitor. What will you do then? Continue the same practices, policies, and procedures through archaic customer service training?

Customer loyalty is truly about your bottom line. Did you know that a 5% increase in customer retention can have a 25% to 100% in profits?

Take a moment to think about the impact of this figure to your bottom line. You already have satisfied customers. By converting them, you save money by not acquiring new customers which is far more costly.

But the real power is that these loyal customers become your greatest marketers, your unpaid sales force. They are singing your praises to everyone through Word of Mouth (WOM) advertising. And everyone in business knows that you cannot pay for a referral.

So what is keeping you from developing loyal customers? In many cases it may be your policies, procedures and customer service training.

For example, some organizations focus on timing the interactions between associates and customers. Speed becomes the driver of the customer experience. The customer cannot complain that the transaction took too long, but they will complain about being treated like a number, like an empty bag, like less than a human being. Have you ever had that experience?

Smarter businesses are coming to realize that unresolved problems are keeping them from loyal customers. If a customer has a problem and that problem is resolved to the satisfaction of the customer, repeat business happens. In other words, resolved problems create loyal customers who want to come back and spend their dollars.

TAKE ACTION to think about your customers. What can you do to develop loyal customers? If you do not have a customer loyalty strategic action plan, then constructing one is your first step to building raving fans.

Take this free audit to see if you are building loyal customers.

Are you seeking a motivational speaker for your next conference or sales meeting? Give Leanne a call at 219.759.5601.

Leanne Hoagland-Smith, chief customer officer, helps organizations through business training coaching services to return to the purpose of business that being building raving fans while increasing productivity and profitability. With offices in Chicago, Indianapolis and colleagues nationwide, she can help you become the Red Jacket in the Sea of Gray Suits. Call 219.759.5601 to schedule a free business coaching consultation.

Tags: action plan, business training coaching, customer loyalty, customer service training, loyal customer

Customer Loyalty - How Do You Develop It?

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