Figuring It All Out

If you haven’t figured this out yet, customer loyalty is the hidden secret to running a profitable  company. The math proves this truth over and over, no matter what business you are in. It simply costs less to keep a current customer than to acquire a new one. Did you hear what I just said? It costs less to keep a current customer than to acquire a new one. I want to be profitable. You want to be profitable. If it really is as simple as retaining current customers, then how do we do that?  According to Inc. Magazine, the secret to retaining customers isn’t having a superior product or becoming an expert at schmoozing. Uh-oh, really? Really. The secret to building customer loyalty is to put their interests before your own. If you don’t believe that it can be this simple, here are Inc’s eight rules for making this happen. Try them out for yourself and see what happens:

  1. Ensure your sales philosophy emphasizes building relationships.
  2. Discover your unique niche and become an expert at it.
  3. Help your customer build their own business.
  4. Always translate what you offer into business results that are relevant to the customer.
  5. Value the customer more than making your quota.
  6. Treat every customer relationship like it is a lifelong friendship in the making, not an end-of-month quota.
  7. Always deliver what you promise.
  8. Provide absolutely impeccable service after the sale.

What are some examples of customer loyalty you have experienced? What is working for you? Share your thoughts here and stay tuned for more ways you can increase your bottom line.