Did you know that satisfying and retaining current customers is 3 to 10 times cheaper than acquiring new ones?
And that 70% of buying experiences are based on how the customer feels they are being treated?
Studies show that 68% of customers leave because they feel they are being treated indifferently, and not because of a “bad” experience, poor quality products, or better pricing somewhere else. Precisely why it’s so important to be sure that your customers feel valued and appreciated at all times…not just through the buying process.
When Margarita and I owned and operated Scenario Design (a branding and design firm), we understood this concept very well and became masters at consistently being there for our customers through thick and thin. We delivered great value day in and day out. We made it a part of our culture to provide our customers with little “extras” and “perks” all the time, and for no particular reason. Each month, we would choose a “Hero of the Month” and reward our customer and their team with something special. We would contact all of our customers on a regular basis to offer them our assistance and to share new ideas and solutions for spreading the word.
At one point, one of our customers decided to leave us for a “cheaper” designer, and then soon came back because they realized even though we were more expensive, the process and deliverables were so much better working with us. Hey! You get what you pay for! What is cheap is often expensive, and what’s “expensive” is often great value.
The point is we were excellent about getting things done while making it easy and effortless for our customers and always, always delivered before we said we would. What better way is there to ensure customer loyalty?
So now, here is the million dollar question: Do you spend more time, energy and resources on trying to gain new customers than you do on keeping your existing ones?
Leap of the Week: Think of 3 simple, inexpensive things you could do for your customers to increase their satisfaction and show them how much you care. Then, implement one TODAY! There is no need to spend a lot of money, what’s important is that your action is highly valuable to your customers because there is nothing more powerful than simply appreciating people and making them feel valued.
And, keep in mind that loyalty is earned, one customer interaction at a time.
To learn more about how LeapZone Strategies can help you increase brand equity and profitability through business and branding strategies, strategic planning, performance coaching and brand development, fill out our free Needs Assessment Questionnaire today.
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