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Every associate’s heard it, every salesperson worth their salt works at it, and every seasoned business leader knows well the old sales adage: “it’s far more expensive to find new customers than to keep your current customers happy.” In fact, a study by the National Quality Research Center at the University of Michigan indicates that just a one percent increase in customer loyalty results in a greater than three percent increase in market capitalization. Yet, retaining customers remains a challenge for even the most respected and admired companies. And, it’s getting tougher and tougher in today’s saturated buying environments, customers are more demanding, knowledgeable, fickle, and more in control than ever before.

By Linda Hyden:  Management Consultant/ Life Coach

These are just I few ideas to get you started – now, start today and continually work to deserve your customer’s loyalty... be new and improved! 

New and improved - P&G a long-time master at managing customer loyalty through continual product improvement seems to have the formula down pat. They have millions of customers that come from legacy generations of Tide users to prove it! If you use Tide, it’s very likely your mother used Tide, and highly likely your mom’s mom was a Tide customer given allegiance to the products “whitening and brightening” on laundry day! So, the new and improved strategy is also true for services and service offerings – continued service improvement – is no longer an option. You must continually enhance, upgrade, and tweak services to keep customers feeling they’re always top-of-mind, not taken for granted, getting more for their money, more for their loyalty, more of your attention to address and satisfy their wants and needs.

Here are a few ideas to spawn thinking in regards to service and customer loyalty: