6/28/2017

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Customer Loyalty

The most important aspect of any business is gaining and maintaining customer loyalty.

What is customer loyalty? Customer loyalty describes the positive feelings that are created by the actions of a business. This causes customers and clients to want to come back and shop or to enlist the services of a company again. Loyal customers also give positive testimonials and good reviews whenever they talk to others about your business.

In other words, if a customer or client is happy with the products and/or services they receive from your company, they will do business with you over and over again. People look for good quality in products and services so it is imperative to provide them if you want to stay in business.

Customer loyalty garners repeat business and the more your customers come back, the greater your chances are for experiencing positive growth, long term success, and profitability.

A good customer base expands when others recognize your company through the repetitious actions of those who find your way of doing business appealing. Over time, by word of mouth and advertising, your business can blossom into a recognized brand.

Every business, no matter how large or small, has to keep it's core customers happy because a happy customer is usually a loyal customer. A loyal customer will pass the word to others and so on and so on and each time a customer returns to do business with you, it helps strengthen your brand against that of the competition.

Customer loyalty should not be taken lightly. If you take your customers for granted, you can lose them to your competition. If this happens, it may be hard to win them back, so as a business owner, it is imperative that you stay focused on the wants and needs of your customers.

How do you generate customer loyalty?

  • First, you must understand that you can't please everyone. Some people are not going to be satisfied no matter how good you do the job, but you still have to try to do the best you can.
  • Be honest. Don't tell your customers what you think they want to hear. Tell them the truth, even if it means not getting the business. They will respect you for it.
  • Never take on a job that you know you can't handle. If you do, you may end up taking a loss and that can hurt a lot, especially if you are just starting a new business.
  • Do your homework! Never underestimate the costs of doing a job. It looks bad when you have to go back to the customer and ask for more money.
  • If you make a mistake, fix it. Your mistake is your mistake. Don't argue about it. Own up to it and make it right. Your customers will respect you for doing the right thing.
  • Show your customers that you are sympathetic to their wants and needs, but it's not your job to give them what they can't pay for.
  • Reward your customers. You don't have to give away the store, but it is nice to recognize your loyal customers with a gift, a discount, a free service, or something special as a thank you for their business.

To a business, customer loyalty is an important commodity, so it is imperative that you treat your customers well. In return, they will repay you by giving you repeat business.

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