Tuesday, December 17, 2013
The Importance of Customer Loyalty to Your Business
The true strength of any successful business is customer loyalty and any business owner will attest to this. Benefits that emerge from customer loyalty are endless and will effectively determine a businesses success. Many people then ask how they can increase this loyalty. There isn't one answer, but rather a combination of different methods that can help build customer loyalty. Many of these facets an how to employ them are included in a book released by the Harvard Business Review which details their importance. Harvard Business Review on Increasing Customer Loyalty. Making sure your customers are coming back and bringing new customers with them is the main ideas behind customer loyalty. Executing this ideas is not simple even though the idea itself is. To start on the path towards this kind of success make sure that your employees enjoy their jobs. Employees who are happy will be much more willing to spread this pleasure on to your customers. Your customers will then get the feeling that something good is happening at your business. Turning negative situations that arise into positive ones is another step to take. It is a skill that is rather easy to learn, but training your employees will definitely be necessary. When a customer has a problem there is tremendous opportunity to deepen the relationship. Start by exceeding the customer's expectations for a solution, never say no to them right away, and make sure that they know an exception is being made specifically for them. Customers who emerge from this situation satisfied will refer in addition to remaining loyal. The Harvard Business Review has done extensive research and has found that there are certain steps that can be taken to increase customer loyalty. There is much more detail on the subject available in the book beyond the details listed here. Many of their suggestions are based on customer service, but customer loyalty is rooted in other arenas as well. You are able to come up with a comprehensive customer loyalty plan by reviewing all these topics.