How to Maintain Customer Loyalty

Course Description:

Customers have more choices and are more demanding than ever. If they don’t get the kind of treatment they expect from one business, they can simply go to the competition. And there’s plenty of competition out there. To be successful and profitable, we have to keep satisfying our customers so that they keep coming back to do business with us. Loyal customers are the core of our business. Your job is to help build and maintain customer loyalty. Today, we’re going to talk about how you can do that and why it’s important.

Why “How to Maintain Customer Loyalty” Matters:

• Customers have more choices and are more demanding than ever. If they don’t get the kind of treatment they expect from one business, they can simply go to the competition.
• It can cost five times more to attract new customers than to keep current customers. Costs include advertising and promotion, sales representatives’ time and training, opening new account records, and other administrative costs.
• Some experts estimate that an organization can boost profits 100% by retaining just 5% more of their existing customers.
• Loyal customers provide free advertising when they tell others about their positive experience with the organization. These referrals can bring in new customers who have the potential to become loyal customers.
• Every contact with customers counts. One frustrating or unpleasant experience could be enough to turn a customer away from even the best product at the best price.

Key Points:

• Without customers, we have no business.
• Customer loyalty is built on satisfaction.
• We rely on loyal customers to make our business successful.
• Every customer contact affords the opportunity to ensure satisfaction and build customer loyalty.