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5 Companies With Exceptional Customer Loyalty
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5 Companies With Exceptional Customer Loyalty

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Loyal customers are great for business but creating a customer-for-life requires a concentrated effort on the part of your company. Here are five companies with high levels of customer loyalty to ...

Loyal customers are great for business but creating a customer-for-life requires a concentrated effort on the part of your company. Here are five companies with high levels of customer loyalty to help inspire you to increase satisfaction and retain your existing customers.

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5 Companies With Exceptional Customer Loyalty Presentation Transcript

  • 1. Doing it Right: FiveCompanies withExceptionalCustomer Loyalty
  • 2. Did you knowthat it’s fivetimes moreexpensive to 5x$recruit a newcustomer than itis to retain acurrent one?
  • 3. How about that by increasingProfits your customerIncrease retention rate you can increase25% to your company’s125% profitability by anywhere from 25% to 125%?
  • 4. It’s clear that current customersrepresent an incredible amount ofvalue for businesses, yet The HarvardBusiness Review estimates that onaverage businesses lose 50% of theircustomers every five years. 50% of Customers Leave in 5 Years
  • 5. Achieving high levels ofcustomer loyalty is no easytask. Building brand loyaltyrequires a concentrated efforton the part of businesses todifferentiate themselves andcontinuously improve theircustomer relationships.
  • 6. However, in everyindustry there area few companieswhose legendarycustomerretention canserve as a guideto others.
  • 7. Here is a list of five exemplarycompanies that inspirecustomer loyalty to help inspireyou.
  • 8. 1. Nordstrom: ExceptionalCustomer Service and Rewards
  • 9. NORDSTROMNordstrom has always beenknown for exceptionalcustomer service in the retailindustry. The Nordstromemployees have one rule:“Use good judgment in allsituations,” which empowersemployees to do whatever ittakes to achieve superiorcustomer satisfactionwithout dealing with difficultrules and regulations.
  • 10. NORDSTROMIn addition to a service orientedcompany culture, Nordstrom has avaluable loyalty rewards program thatengages customers and provides realbenefits to frequent buyers.
  • 11. NORDSTROMTheir loyalty programprovides early access to Members of thesales, free tailoring, and Fashionother discounts while Rewardsthe tiered nature of the Program shopprogram encourages twice as oftencustomers to stay loyal and spend threeto the brand by as much as theencouraging them to averagespend more in order to customer.gain further benefits.
  • 12. NORDSTROMPersonal interactions betweenemployees and customers and anexceptional loyalty rewards programmeans that Nordstrom has manycustomers-for-life and extremely highcustomer loyalty when compared toother department stores.
  • 13. 2. Amazon.com: SuperiorConvenience and Service
  • 14. AMAZON.COMAmazon.com has consistently strongcustomer loyalty because of its focuson a simple and customer-centricshopping experience. Amazon issecond to none in product availability,making it easy for customers to findwhat they need, no matter how obscure.
  • 15. AMAZON.COMCustomers using Amazon have easy accessto product information, reviews, pricing frommultiple sellers, and product suggestionsbased on previous purchases. This plethoraof information simplifies each purchasedecision and increases customer confidence.
  • 16. AMAZON.COMIn addition,Amazon Primeprovidesbenefits for loyalshoppers suchas free two-dayshipping andother discounts.
  • 17. AMAZON.COMAmazon.com has exceptionalcustomer loyalty because oftheir focus on simplifying thecustomer shopping experience.
  • 18. 3. SouthwestAirlines: Focus onService and Value
  • 19. SOUTHWEST AIRLINESSouthwest Airlines has superiorcustomer loyalty because of their beliefthat their company is “in the customerservice business – it just happens to flyairplanes.”
  • 20. SOUTHWEST AIRLINESSouthwest promotes a better customer experienceby hiring employees based on attitude rather thanwork experience, and then training them to bothperform their jobs effectively and represent thecompany in a positive manner every step of theway.By hiring employees that are willing to engage,Southwest ensures that customers will have thebest service experience possible while flying.
  • 21. SOUTHWEST AIRLINESSouthwest is able to offer lower prices and providegreater value to customers by flying just one typeof aircraft, offering point to point flights instead ofthe traditional hub and spoke model, and theirsimple no-frills service with fewer fees thancompetitors. Image from Wikimedia http://commons.wiki media.org/wiki/File:S outhwest_Airlines_R oute_20110327.png
  • 22. SOUTHWEST AIRLINESCustomers areloyal becausethey can getwhere they needto go easily andat a lower cost.
  • 23. 4. Apple: Impressive Products and Customer Support
  • 24. APPLE Apple, which has a customer retention rate of over 90%, achieves impressive customer loyalty through its exceptional products and focus on customer service. Customers are likely to stick with Apple because of its app store, iTunes, cloud services, and Siri voice recognition.
  • 25. APPLEApple’s reputation for innovation meanscustomers are willing to pay to upgrade theirproducts even for rather minor additions ratherthan switch brands. The consistent interfacemakes it easy for Apple users to adapt to newproducts and provides a consistent experience.
  • 26. APPLEApple also outperforms itscompetitors in customerservice. The Apple GeniusBar and simple serviceagreements make it easyfor Apple’s customers toget the support they need.Apple customers are loyalbecause Apple goes aboveand beyond in both itsproducts and service.
  • 27. 5. Chipotle: Fresh Ingredients and Social Responsibility
  • 28. CHIPOTLEChipotle has been able to maintain customer loyaltyeven in the face of rising prices because customersare willing to pay more for fresh, sustainably growningredients. Customers are consistently loyal toChipotle because they offer a healthier option forfast food and provide extremely quick service evenat rushed meal times.
  • 29. CHIPOTLEChipotle recentlylaunched the exclusive“Farm Team” loyaltyprogram that offersbenefits to their bestcustomers whileteaching them about thecompany’s efforts toprovide fresh food in anenvironmentally friendlyway through the Foodwith Integrity Program.
  • 30. CHIPOTLEChipotle’s customers are loyal to thebrand because of its commitment tosocial responsibility while providing asuperior product.
  • 31. Whether it’s becauseof personalizedcustomer service,social responsibility,or simply a betterproduct, thesecompanies stand outbecause of their highlevels of customersatisfaction.
  • 32. By creating loyal customers-for-life,businesses can increase their overallprofitability while gaining a valuableresource for brand evangelization andgrowth.