By Mario R.
Churchill
© 2007
http://www.travelvacationvouchers.com
http://www.salesincentivesblog.com
There are many ways to explain or define customer loyalty, but it’s
basically an attitude that customers display and which employers desire because
they’re showing a continuous interest in the company’s products or services. All
businesses need to build customer loyalty, and it’s never too early or late to
start building it for your company as well.
Factors that
Affect the Ease of Building Customer Loyalty
No matter
how much money, time, or effort you expend on building customer loyalty, there
are several factors that could hinder you from attaining your goal.
Product
Quality – How does your product fare from others? It’s easier to build customer
loyalty if your product is indeed worth patronizing. If it’s not, then don’t worry
about customer loyalty first. Concentrate on improving the internal and external
defects of your product because at the moment, you’re not giving them any reason
to be loyal to your store.
Competition – Let’s just say
that you indeed have the better product and you’ve got an internal competitive
advantage over your competitors. Unfortunately for you, however, your competitors
have more financial resources and as such, they’re able to expend more on advertising.
Thus, you’ll have to work harder than usual to build a loyal customer base.
Customer
Service – No matter how great your products are, you won’t be able to build customer
loyalty if your employees aren’t able to provide them with excellent customer
service. Train your employees to be service-oriented and remind them constantly
that the business can’t continue to operate without a customer base. Always encourage
them to go the extra mile if it’s only at the expense of a little sweat!
Benefits
of Gaining Customer Loyalty
Increased Sales from Old Customers
– Without literally and figuratively lifting a finger, you’ll be able to increase
the sales from old or existing customers. That’s because your products speak for
themselves. Continuously excellent customer service will also be able to create
and sustain customer loyalty and consequently lead to increased sales.
Word
of Mouth Marketing – Customer loyalty unconsciously or consciously urges people
to advertise or endorse about a particular product or service because of various
reasons. Because of customer loyalty, you’ll be able to enjoy advertising free
of charge.
Competitive Advantage – Customer loyalty, in
the end, will become your competitive advantage because no matter what strategy
your competition employs, your customers aren’t budging: they like what you’re
offering, and that’s that!
Tips on How to Build Customer
Loyalty
Know Loyal Customers by Name – Slowly but surely,
you’ll be able to notice which customers buy or visit your store more frequently
than usual, and when this happens, take the time to get to know them personally.
Let them know that you’re aware of their frequent visits and that you appreciate
their patronage.
Listen to What They Have to Say – The
opinions of your old and existing customers count. If they have some complaints,
don’t brush them off. Instead, welcome them with a warm and sympathetic expression.
Always put yourself in their shoes. If you’re truly in the wrong then you should
take the necessary actions to rectify it. That’s the way to build and retain customer
loyalty!
Customer loyalty takes time to build so it’s important
that you don’t give up when your first few attempts end up in failure. Lastly,
remember that building customer loyalty is a team effort so make it a common goal
for management and employees to work hard for it!
