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HOW TO... foster customer loyalty
They are the Holy Grail of the business world: loyal customers whose business returns time and again without the hefty expense and time required to attract new clients. As an added bonus, these customers often also bring in new business through their personal referrals. Yet many companies still focus on bringing in new clients, often neglecting this very lucrative group who form a foundation on which to grow an organization. So, how can firms foster the development of a core group of loyal customers? As sales and customer service guru Jeffrey Gitomer said, "Customer satisfaction is worthless; customer loyalty is priceless." Although this may be over-stated, focusing exclusively on customer satisfaction is a common mistake. The fact is, a client's needs cannot be met every time. There will inevitably be some dissatisfaction with a product, service or your staff at some point. And now for the goods news: customers do not always have to be satisfied in order to become loyal. Ultimately, what will cause clients to come back to you is their belief in who you are as a company and how you have treated them over a long period. Here are some tips on fostering customer loyalty: Treat every customer in a memorable way For example, if you receive a complaint from a client, go over and above the norm to make amends. Give a full refund instead of a partial one or offer services or products free of charge. The customer will remember that he or she was treated very well and will come back to you. How you achieve loyalty is a process, not a single action Go that extra step after the sale such as sending a card to thank your client for their business or calling them to find out if the product or service is working well. Let your customer know they are appreciated. Little things can make a big difference. Consider "satisfaction" the lowest level of acceptable service The job is not over when the client is happy with your product or service. Do not lose the opportunity to bring in return business. Your goal should be to create loyalty so that the customer will come back or recommend your business. Refer clients if you cannot help them Some companies are wrongly afraid of losing business by refering customers elsewhere. However, your customers will realize you have their best interests in mind and other businesses will, in turn, refer their clients to you. Like your customers If you like your clients, you are going to do your best for them. If you only see your customers as a source of income, whenever that income is threatened, you will do what works best for you and not what is best for your clients. Eventually they will take their business elsewhere. At times, take a short-term loss for a long-term gain Some stores have loss leaders that give people a product they need at an affordable price, while others have excellent return policies. Neither of these makes money but both strategies keep customers coming back. The only perspective that matters is the customer's For example, it would be a mistake to develop a flashy Web site that is only accessible via high-speed Internet service if most of your clients do not have high-speed access. Know your limitations Some companies are anxious to get new business and do not consider whether they can handle it well. Make sure you can still serve your existing clients at a high level before expanding your customer base. Set customer loyalty as a goal If customer loyalty is not a high priority, then your focus will always be on improving all the other areas of the business, like the look of your office, your systems or sales process. These areas might need improvement but will take on a different level of importance when the goal is to develop loyalty. Set aside dedicated funding for loyalty and decide what you are going to do throughout the year. Communicate with your clients in order to get their feedback Use surveys to find out how your customers feel about the way you are treating them. Run your business with integrity If your business functions with honesty, a sense of responsibility and without compromising your goals, this will be reflected by your staff and felt by your customers.
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