Small or medium business owners and marketers are well aware of the importance of getting customers that stick around for a lifetime. Savvy marketers understand the fact that the cost of acquiring a new customer is as much as 7-10 times the cost of retaining an existing customer. Loyalty means a customer is willing to do business with you even when a cheaper, faster (maybe better) alternative is available – which makes it highly dependent on trust.
1. The first steps are the most important
2. Never over-promise, only to under-deliver
3. Create an outstanding customer service team
5. Use ‘Surprise’
It’s said that - “it’s the little things that matter the most.” Surprise your customers with the little things that they could use. Instead of using small rewards as a way for service recovery, it makes much more sense to use them when they aren't expecting anything. It’s important that rather than offering just about anything, target their pain points directly and offer something that addresses the issues they’re facing.
6. Anticipate & Act
7. Stand for Something
Although there exists a clear demarcation between repeat business and loyal customers. While repeat business means just that – business, loyalty implies a long-term commitment that does not necessarily assure a constant flow of revenue, but also leads to more referrals and brand evangelism, apart from the occasional business that comes in.