| Author: | Anthony Ekanem | ISBN: | 9781370600250 |
| Publisher: | Anthony Ekanem | Publication: | December 3, 2016 |
| Imprint: | Smashwords Edition | Language: | English |
| Author: | Anthony Ekanem |
| ISBN: | 9781370600250 |
| Publisher: | Anthony Ekanem |
| Publication: | December 3, 2016 |
| Imprint: | Smashwords Edition |
| Language: | English |
Customer loyalty is the single most important element to retain within a business relationship. A lot of positive elements can be derived from a well-established loyal customer base. Huge amounts of money is periodically allocated to advertising, primarily to garner a bigger market share of consumers, but with the existence of a loyal customer base, these expenses can be channeled towards other better and more beneficial areas.
Companies which have a satisfactory percentage of loyal customers have the advantage of channeling funds into a self-reinforcing system in which the company delivers constantly evolving superior value and high quality products and services.
This will further create the comfortable relationship desired to continue to successfully keep the customers both happy and loyal. There is also the added advantage of the pre-existing customers who consciously help to introduce friends and family to consider using the products and services based on personal testimonies and enthusiasm.
Another importance of retaining loyal customer ratios at an all-time high lies in the fact that companies are able to focus on providing good customer induction schemes that contribute to a higher yielding customer base and thus provide for higher profits by reducing the need to spend money attracting potential but not necessarily viable customers. However, such schemes should in no way take the place of good and resoundingly exemplary customer service.
The element of trust is rather hard to accomplish and even harder to nurture, but with the right daily process in place and use without deviation, it is very possible to build the desired trust factor between both parties. This trust factor will then translate to converting the casual customer into a loyal one. Thus any complaints or misgivings regarding the products or services should be addressed swiftly and to the satisfaction of the customer. Companies that take the grievances of a customer seriously are usually the ones that have the highest loyal customer base on record.
Customer loyalty is the single most important element to retain within a business relationship. A lot of positive elements can be derived from a well-established loyal customer base. Huge amounts of money is periodically allocated to advertising, primarily to garner a bigger market share of consumers, but with the existence of a loyal customer base, these expenses can be channeled towards other better and more beneficial areas.
Companies which have a satisfactory percentage of loyal customers have the advantage of channeling funds into a self-reinforcing system in which the company delivers constantly evolving superior value and high quality products and services.
This will further create the comfortable relationship desired to continue to successfully keep the customers both happy and loyal. There is also the added advantage of the pre-existing customers who consciously help to introduce friends and family to consider using the products and services based on personal testimonies and enthusiasm.
Another importance of retaining loyal customer ratios at an all-time high lies in the fact that companies are able to focus on providing good customer induction schemes that contribute to a higher yielding customer base and thus provide for higher profits by reducing the need to spend money attracting potential but not necessarily viable customers. However, such schemes should in no way take the place of good and resoundingly exemplary customer service.
The element of trust is rather hard to accomplish and even harder to nurture, but with the right daily process in place and use without deviation, it is very possible to build the desired trust factor between both parties. This trust factor will then translate to converting the casual customer into a loyal one. Thus any complaints or misgivings regarding the products or services should be addressed swiftly and to the satisfaction of the customer. Companies that take the grievances of a customer seriously are usually the ones that have the highest loyal customer base on record.
