KEEP YOUR CUSTOMERS - How to Stop Customer Turnover, Improve Retention and Get Lucrative, Long-Term Loyalty

KEEP YOUR CUSTOMERS
How to Stop Customer Turnover, Improve Retention and Get Lucrative, Long-Term Loyalty
Introduction
To cultivate loyalty across your organization, you have to clarify:
Definition: The Customer Loyalty Process
1. Make emotional CONNECTIONS
2. Set clear loyalty GOALS
3. Take measurable STEPS
4. Use tracking & METRICS
5. Include customer CELEBRATIONS
WHY loyalty matters
HOW to target loyal customers
WHAT you need to do to enhance loyalty
WHO will be responsible for customer loyalty
WHERE you put it all together
You can't just assume happy customers will buy from you again. Instead, you need to have consistent systems in place which will cultivate long-term customer loyalty and repeat business. You need a good customer loyalty program.
Pure and simple, customer loyalty is lucrative. If you can increase your customer retention, long-term customers will refer additional business to you, buy more of your products, and cost less than new customers. Loyalty boosts your competitive advantages and generates superior financial returns.
Your plan for keeping customers loyal should start with digging into the subset of your current customers who have the greatest potential for loyalty. Discover who your most loyal customers currently are, where to find them, and how to engage them. These are your first steps to building more loyalty.
Once you have the right strategy in mind – target more of your most lucrative loyals – you can then focus on applying the right tactics. The overall aim of these tactics will be to create a vibrant customer relationship with your most lucrative loyals.
To drive greater customer loyalty, you're going to need internal coordination and highly engaged employees. Make sure your company culture is designed around loyalty, and that you track and measure the right data. You also need someone to champion and drive your loyalty initiatives.
Develop a written tactical plan for how you can make loyalty your everyday reality inside your company. This action plan should be designed to get your team members more engaged with your customer loyalty initiative. The loyalty plan is where you bring together everything you will need.
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