about customer loyalty
Sometimes in business, we can be so pre-occupied with chasing down new customers and offering them sparkling deals to attract them in, that we neglect the loyal customers we already have.
In fact, looking after customer relations is vital to building your business. If people are happy with your service, not only will they come back for more, but they have the capacity to become advocates for your brand, bringing more customers through your door without you having to do any of the hard work. Simple, right?
As a manufacturer, wholesaler or distributor, 80 – 90% of next year’s revenue will come from your existing customers. Knowing which customers are at risk of leaving, could be buying more or are true advocates of your brand is an essential part of a successful business. To gain insight, you need to apply a customer health score to every account. You may already do this with a red, yellow, or green system
Enticing the customers through the door is the easy part. Getting them to stay (customer retention) is where the challenge begins. Learning how to tailor your service to each individual customer is the secret to maintaining a positive relationship, and developing it into one that lasts. But how exactly do you ensure your customers stay happy? Sometimes looking at them in a different light can help to deliver a service that will keep them happy, and make them stay…