Monday, October 7, 2013

The golden opportunity

It’s a fact that customers are a lot less loyal than they once were. We have more choices than we used to when it comes to the products we purchase or the services we use. With the Internet at our fingertips, we can research, and compare value, features and benefits before we enter a store or order online. And along with the economic downturn, many industries, such as banking and the airlines, suffered negative backlash. All that adds up to some challenging times when it comes to retaining customers and keeping them loyal.

One of the biggest opportunities to win a customer for life is when that customer is unhappy and you’re able to solve the issue to their satisfaction. When you consider that customer loyalty can be worth 10 times as much as a single purchase, taking advantage of an opportunity to turn an unhappy customer into a happy one is an obvious win for everyone involved. Go beyond to take care of customers when things go wrong and you'll gain a loyal customer for life.

Barry LaBov
LABOV Marketing Communications and Training