How loyalty impacts the bottom line...
Loyalty does not happen overnight. It usually starts at the top of an organization and becomes part of the culture. When companies overlook the importance of loyalty, negativity starts and is difficult to correct. Companies spend a lot of time trying to cultivate their brand. Clients, customers, partners, referrers, and employees want to be listened to, understood, and most of all, know they are valued. The trick is how do you, as a business owner, make sure this is happening.
First, think about this quote from Maya Angelou...
I have learned that people will forget what you said, people will forget what you did, but people
will never forget how you made them feel.
This one quote is the secret to success when it comes to attracting, nurturing, and retaining relationships. Enriching relationships one touchpoint at a time is the goal. Figuring out how to do this and do it well is vital to the bottom line. Most companies don’t spend the time to figure this out. They make a sale and are off to the races fishing for their next prospect and forgetting about the people who helped along the way and forgetting about that client they just did business with. Forgetting to stay in touch with those individuals who make it possible to be successful every day.
It is not that difficult to create a plan that helps achieve this success. But you have to be intentional, and your touchpoints need to be meaningful, memorable, and lasting. Also, you need to build consistency into this initiative, or it will fail.
Did you know...
• It costs 5 to 10 times longer in finding new clients than it does to take care of the clients you already have
• The average business loses 20% of its customers annually by merely failing to attend to customer relations
• 80% of companies say they deliver a “Superior" Customer Experience, yet only 8% of their customers would agree
• 66% of Chief Marketing Officers say developing a deeper, richer customer experience is their top marketing priority
• More than 8 out of 10 of their executives agree that delivering a Superior Experience is essential to the organization’s overall success
Taking care of those most important to you can seem daunting to many; however, building client and staff appreciation goals/objectives and developing a strategic plan is the best way to get started. Outsourcing this project often makes sense as busy companies/leaders/employees don’t always have the time, energy, or best ideas for doing this well.
The key is JOY.
Joy is the emotion you are striving for;
loyalty always follows.