Making your internal and external customers feel important is a tremendous step in building customer loyalty.
How do you know what customers want in order to feel important?
While each individual is different, there are ways you can make your customers feel important every time they interact with your business. Simple steps such as using your customer's name or shaking your employee's hand will go a long way to making them feel valued. You may be thinking that this is obvious, indeed, it is not rocket science. While it may be obvious, the truth is that it is also frequently not practised. And because it is not done well or consistently, it represents a key differentiator.
Your employees’ Loyalty
Organizations with high employee engagement outperform those with low employee engagement by 202%. (Business2Community)
If you want employees to go above and beyond for you, you must go above and beyond for them. Employees who are loyal will provide exceptional customer service and will be more adept at helping your business grow.
Businesses that focus on keeping their employees informed, and in the know, help to make them feel part of a team. When you take the time to clearly communicate with your employees, letting them know your expectations, their job duties, and provide feedback, they will be more loyal and you will notice a reduction on your staff turnover, saving you time and money.
Your customers’ loyalty
The only way that small business owners can beat the big guys isn’t to compete with them on the things they are good at (e.g., low prices, logistics, etc.); it’s far more important to provide a level of service that your competition just can’t match: exceptional customer service and creating customer loyalty.
A 5% increase in customer retention can lead to an increase between 25-95% in annual profits. (Bain & Company)
Loyalty can be defined as a customer continuing to believe that your organisation’s product/service offer is their best option. It best fulfils their value proposition, whatever that may be. They take that offer whenever they are faced with that purchasing decision. Measuring the attitudes as well as behaviours that we know makes up this concept of loyalty. For example, some of the important attitudes and behaviours expected of a loyal customer include:
• Likelihood to recommend your products and services to others
• Likelihood to continue purchasing your products and services, at minimum, at the same level
• Likelihood of purchasing other products and services you offer
• Believing your products and services are superior to others offered in the marketplace
• Not actively seeking alternative providers to replace you
• Providing your company with opportunities to correct problems and not using these as a basis for compromising the relationship.
One of the keys to maintaining a thriving business is a steady customer base. A successful company typically sees eighty percent of its business come from twenty percent of its customers.
If your business goal is to live long and prosper, then any efforts toward building customer loyalty will certainly pay off. You have to put real energy and effort into maintaining a consistent customer base; just providing a great product or service is rarely enough to keep them coming back for more:
• If you understand your customer's needs
• If you develop some buzzing standards
• If you train your staff
• If you measure your services to identify your gaps
• If you act quickly and effectively
• If you learn from feedback
• If you consistently deliver exceptional customer service
• If you give value to your customers.
Shared values are by far the largest driver of brand loyalty. Most customers aren’t particularly loyal to any one business, but they are loyal to what the business stands for.
We live in a world where doing business is becoming more emotive. We know words like kindness, vulnerability and courage are the new power words.
Bringing a more caring energy into loyalty means that you appreciate every moment of the day, you can deliberately create your success by showing that you care and expressing gratitude at every single opportunity – it’s wonderful for business and even better for your soul.
Connecting at an emotional level is what will keep your customers coming back for more, this is what will make your customers, internal and external, become your advocates, this is what will make you and your business a success.
ABOUT THE AUTHOR:
Claire, aka The Busy Queen Bee, is on a mission to inspire businesses to thrive and spiral up their profit by bringing more care into their businesses, making game-changing decisions in their culture, enhancing their environments, increasing their employees’ engagement and loyal customers, through a more focused CX & EX Culture.
The Busy Queen Bee
She is the author of 2 books, "Thrive with the Hive" and "Thriving by Caring," with its audible version and its French version, Prospérer en étant attentionné.
Disclaimer: The views in this blog are those of the blogger and do not necessarily reflect the views of ABS-CBN Corp.