Say "I do" to your customers and your team members
Consider it polygamy of sorts. But if you want to stay in business long and prosper, you have to commit to your customers. It's no longer enough just to satisfy them. The quality of businesses revenue is as important as its quantity. Loyal customers represent quality revenue. This article explores the six basic keys to creating and nurturing loyal advocates for your business and illustrates how some businesses use various loyalty-building initiatives as the central element of their strategy.
It's great if every customer walks away from your business with a smile. But it's not enough. They have to be compelled to come back for more. And, merely satisfying your customer does not guarantee they'll be repeat customers.
Let's take for example a small restaurant located in San Francisco's Mission district. Casa Sanchez has been making tortillas for years in San Francisco's Mission district. Routinely customer's leave with a full stomach and contented smiles, which is nothing less than you'd expect of a successful restaurant. But the truly unique thing about Casa Sanchez is its ability to create and foster loyal customers. Casa Sanchez customers go beyond being just loyal; they are true advocates in every sense of the word. Loyal to the point where more than 40 Casa Sanchez customers have paid between $80-$120 to have the company logo (Jimmy the Cornman) forever tattooed on their body - and there's a waiting list of advocates willing to do the same. That's taking loyalty to the extreme!
Frederick F. Reichheld has spent more than a decade investigating companies that get loyalty right. He has identified 6 common principles that these loyalty leaders share:
- Preach what you practice
- Play to win-win
- Be picky
- Keep it simple
- Reward the right results
- Listen hard, talk straight
These principles apply to any business and it starts and finishes with the individual business person, not with complicated software packages, expensive databases or highly energized committees.
Integrity is the life source of any long-lasting relationship. Words, actions and commitment support the lifespan of customer loyalty. If you were to ask a customer or even an employee how your company rates on integrity, what do you think they would tell you?
