Building Customer Loyalty
“If we don’t take care of our customers, someone else will.”
A business of any kind depends upon customers for survival. No customer virtually translates to No business! So, it’s no surprise to see companies allocating huge funds to market to new prospects with the goal of turning them into clients. But in the process of chasing new customers, many of these businesses forget their existing customer base.
A successful business will typically see 80 percent of its business coming from 20 percent of its customers. And it is this loyal customer base that has to be protected. Remember, it costs five times as much to find a new customer as it does to keep an existing one.
How can you keep your customer base from wandering over to your competitor? We’ve listed 5 simple tips by which you can maintain your loyal customers and also generate new ones:
1. Treat them right: One of the most important elements of good customer service is to make customers feel wanted. Just the words “Thank You” with a smile will reap huge goodwill. You'll be surprised at how much it matters! Say "thank you" to new customers within days (or if it's online, within hours) of receiving your first order. Knowing the names of regular customers and addressing them personally will immediately set the tone for a positive customer experience.
Have a dedicated phone line for long-term customers to allow them more convenient access to you. Make things easier for them the second time around. If you can, have couple of sales persons solely dedicated to deal with regular customers.
2. Attend to complaints: Try to solve
customers’ problems or complaints as soon as you can. Start by saying that you are sorry for what happened even if it is the customer’s fault. Then attend to the problem. Never say, “well, that’s our policy”- that’s a sure-fire tactic to drive your customer away.
Use Complaints To Build Business! You may well ask how that can be – by promptly following up and resolving a customer's complaint, the customer might be even more likely to continue doing business with you. And what’s more, they might just recommend you to their family and friends on the basis of how promptly and efficiently their complaint was attended to.
3. Give incentives: Give customers a reason to return to your business. Offer special discounts or rewards to long-time customers.
Invite your loyal customers to "special" events – make them feel important and wanted.
4. Listen to them: People like to be heard, they want their opinions known. So, talk to your regular customers and actually listen to what they are saying. And if possible, implement a couple of their suggestions and let them know you did it because of them.
5. Reach out: Keep in touch with your regular customers - send Christmas cards, see them at trade shows, send newsletters with useful information and updates. The more they see you and the more they know about your accomplishments, the more loyal they will be.
The trick to retaining customer loyalty is to not ignore them, to treat them well and to ensure they receive value for their money. Your customers will pay you back by spreading the good word about you.
Customer Satisfaction Is Worthless, Customer Loyalty Is Priceless : How to Make Customers Love You, Keep Them Coming Back and Tell Everyone They Know (Hardcover)
by Jeffrey Gitomer
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Article Source: ArticlesBase.com - Building Customer Loyalty