Posted by darren
on July 11th, 2016
Today, many industry analysts have reported that brand loyalty is dead. After all, we are living in a state of constant distraction, leaving little chance for any brand to cut through all the clutter. Your customers have digital devices at their fingertips at all times, so it’s never been easier for them to research and switch to a competitor.
Lines around the block
And yet, when it comes to loyalty, these digital devices seem to be the exception to the rule. Every iPhone release is greeted with queues lining around the block. Somehow, Apple has built up a brand loyalty that most of us can only dream of. What’s the secret to their customer loyalty? It’s the promise of a shinier, easier life through technology, backed up by impeccable customer service.
The secret of success
So how important is treating your customer well? In 2011, 70% of people said they were willing to spend more money with companies that provided excellent customer service. And almost 9 out of 10 consumers said they would pay a higher price to guarantee a superior customer experience. So, competing on price isn’t the most effective way to build an enduring business. Great service, delivered time and time again, will trump the most well-funded competition.
How much is a loyal customer worth?
On average, a loyal customer is worth up to 10 times as much as their first purchase. Think about that. If you could turn a casual customer into a brand ambassador, you could increase your profits tenfold.
So how do you improve your customer service? Easy. Listen to your customer’s feedback and then act on it … and use jago!