Customer loyalty – key in building your business
Is marketing promoting and selling products or services? Is it market research and advertising? Marketing is much more than a strategy to lure people into your business and a crafty message that expresses it. You can pour thousands of dollars into trying to optimize profit on a sale-by-sale basis, if your focus isn’t people’s experience, your money will be wasted.
Marketing is every experience the customer has from interacting with your business. It’s what he hears, what he sees, the service he receives and the follow-up care after the purchase. These things help the customer to decide if he should choose your business over your competitors and if he should come back. In building a business, customers’ loyalty is your greatest asset.
At the heart of the customers’ experience is giving back. It is the most effective tool you can use to connect with your customers and attract prospects.
Giving back is a mutually rewarding relationship. People are more inclined to support the businesses that help them, more motivated to defend them in the face of criticism and to act as brand ambassador on their behalf.
Employees who are encouraged by their bosses to give back have higher morale, greater employee loyalty and feel more connected to the company.
Giving back is the quickest way to strengthen your reputation and to connect with your community.
A study conducted by Cone Communication and Echo Research revealed that more than 90 per cent of consumers would switch to a brand that gives back to the community.
Start thinking long-term reputation instead of short-term profit. Make giving back part of your business culture.