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Contact: LeAnn Huffman
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For Immediate Release
Building customer loyalty can pay off
Dallas, Texas-(March 06, 2008)-Exceed their expectations to keep them coming back
From Wire Reports
If you're like many small-business owners, you probably spend a lot of time looking for ways to attract new customers.
But have you given any thought to how to keep your current customers happy?
It might be worthwhile – experts say that businesses get 80 percent of their profits from 20 percent of their customers.
So if you're not focusing enough on building customer loyalty, you may be missing out on repeat business. Plus, it costs a lot less to keep a customer than attract a new one, loyalty experts say.
"On average, it's four to six times more expensive to get new customers than it is to keep existing ones," says Shep Hyken, president of St. Louis-based Shepard Presentations, which specializes in customer loyalty and customer service. "You've already got them. They are a captive audience."
How do you keep them coming back for more?
First and foremost, experts say, assess your customers' expectations, and figure out how to exceed them.
"It's when you exceed customer expectations that you develop loyal customers," says Linda Berke, owner of Taylor Performance Solutions Inc. in Melville, Calif., which develops customized customer service training.
She suggests taking a hard look at everything your customers see, from your front desk to your parking lot, and ask how it stacks up to what you would expect as a customer.
Then, ask what you are doing right that would keep those customers coming back if they had a choice to go elsewhere, Mr. Hyken adds.
If you're unsure, ask some of your customers what appeals to them. If a customer is happy with your product or service, follow up by asking if there is one thing that would make doing business with you even better, Mr. Hyken suggests. If they're unhappy, find out how you can make their experience better.
"In most cases, if you look at your worst customer experiences and your best, a common trait between the good and the bad is the attitude of the person you're dealing with," Mr. Hyken notes.
So pay careful attention to the demeanor of the people you are putting on the front line.
And empower your employees to deal with problems, Ms. Berke adds. You don't want customers to jump through hoops or navigate layers of people just to resolve their problems, she says.
Beyond that, it pays to keep in contact with – even reward – your clients without overdoing it, Ms. Berke says. Monthly newsletters, reminder cards or even holiday cards work well.
Jamie Herzlich, Newsday
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