Customer loyalty. how to get some


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Do you know what its costing you? Lets face it, keeping a customer is less expensive than finding one.
Research by business consultants firm The Brookeside Group and the author of "Great or Poor" Guy Arnold, conclude that companies can boost profits by as much as 85 percent by focusing on why clients stay with you.

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Customer loyalty. how to get some

  1. 1. Taico® :: 67 Patterson Village Ct., Bldg F :: Patterson, NY 12563 :: 845-228-GIFT (4438) :: fax: 845-228-5136 ::© 2012 Taico® Incentive Services Inc.Customer Loyalty. How to get some.Losing a customer remains at the top of an organizations nemesis. Gaining a new customer on one hand butwatching an existing customer leave you is like pouring fine wine in aglass with no bottom. Depending on the industry you are in, it takes bigmoney and time to win a customer.Do you know what its costing you? Lets face it, keeping a customer is lessexpensive than finding one.Research by business consultants firm The Brookeside Group and theauthor of "Great or Poor" Guy Arnold, conclude that companies canboost profits by as much as 85 percent by focusing on why clients staywith you.Customer loyalty can also have the same impact as reducing operatingcosts by as much as 10 percent. American Express weighs in with their findings. "Consumers are willing to pay anaverage of 36 per cent more for a decent pub meal if the service, food and atmosphere are of a high standard."Unfortunately many larger organizations still put their bucks into huge sales and marketing initiatives but cut back,to their peril, on customer service analysis and training of employees.When it comes to boosting customer loyalty, bigger companies dont always know better.The good news is that you can dramatically improve your own customer loyalty by understanding the impact yourworkplace culture has on customer retention.Here we will map out some simple observations to put you on the right course toward employee engagement andcustomers remaining on board.Building a customer centered culture focusing on customer service and customer experience will help you influencecustomer loyalty. We all know what its like to receive great customer service. What we may not know is our decisionto stay with a company is more about our overall customer experience. Although an essential part of yourcustomers overall experience, it is just a part of a larger equation. It is possible to provide great customer serviceand fall short of their experience with you.Share This
  2. 2. Taico® :: 67 Patterson Village Ct., Bldg F :: Patterson, NY 12563 :: 845-228-GIFT (4438) :: fax: 845-228-5136 ::© 2012 Taico® Incentive Services Inc.VP and research director Harley Manning of Forrester Research defines customer experience as “how customersperceive their interactions with a company along each step of a customer journey, from discovery, to purchase anduse, to getting service.”What is your clients perception of your company? Is interaction with your organization conducive to them staying?Is your customer’s recollection of their entire experience with you, from start to finish, at all touch points, a goodone? Although customer service helps to shape the overall customer experience it doesn’t fully define it. Customerservice is generally about assisting your customer with a specific need or problem. In their book "Outside In", HarleyManning and Kerry Bodine note:“People call customer service when they have a problem. So equating customer service with customer experience islike saying that a safety net is a trapeze act. Yes, the net is important to the act. But if the performer needs to use thenet then something has gone wrong with the show.”You can turn any potentially negative experience into a positive one if you can anticipate your customers needs inthe beginning. Train your sales people to be champions which will also help them provide a great customerexperience.The influence your employees have on how your company delivers a great brand experience can not beoveremphasized. An engaged workforce creates a performance culture which becomes visible to your customers.When problems arise, as they certainly will, your employees will be up to the task of providing a positive customerexperience. Engaged employees are deeply involved in figuring out how to meet your organizations objectives forthe good of all.Creating the perception as a caring organization will resonate well within the marketplace. A salesforce armed withproduct knowledge will also boost sales and customer retention because you can better answer questions and be ofservice. An employee recognition and rewards program that encourages positive behaviors such as wellness andperformance achievement will seem magically to contribute to your customers experience. When customers arehappy they stick around.When customers stick around your business does well which boosts moral. When moral is boosted performancegoes up. In short your efforts translate into strategic and financial success.Share This
  3. 3. Taico® :: 67 Patterson Village Ct., Bldg F :: Patterson, NY 12563 :: 845-228-GIFT (4438) :: fax: 845-228-5136 ::© 2012 Taico® Incentive Services Inc.Remember that by addressing employee turnover you will also contribute to customer retention. You might want toconsider a Peer to Peer recognition program as an effective, low cost approach for reducing employee turnover,boosting performance and morale.Some of us may have read about the popular S&H Green Stamps back in the early 1990s. (also called Green ShieldCustomers. Customers would receive stamps at the checkout counter of supermarkets, department stores, andgasoline stations among other retailers, which could be redeemed for products in the catalog.No one can deny that Green Stamps did much to keep customers loyal. Their employees were also engaged andexcited about the program. We have learned much from Sperry & Hutchinson company (S&H), founded back in 1896by Thomas Sperry and Shelley Byron Hutchinson.Today our knowledge of customer relations has evolved and now includes the use of more sophisticated CRM andROI technology. That fact doesnt diminish one vital basic fact. Customer loyalty begins with creating employeeloyalty. Being more in tune with your employees emotional and social needs connects them to your customersexperience and loyalty. Developing customer loyalty consists of innovation, cooperation and a healthycommunication mechanism between management and employees will contribute to your efforts in providing theultimate in customer satisfaction.Put a higher value on these facts and learn how you can keep more customers around.Share This