Increase Your Profits Through Customer Loyalty
The job of convincing your existing customers to spend higher and more often can be an extremely tough task. There are many ways of achieving customer loyalty. It can be far more profitable to market existing and new products to an established customer base, than to try and attract new buyers. Offering incentives such as: loyalty discounts, increased order discounts, attractive credit terms, bonuses and dedicated account managers are just a few tried and tested methods for maintaining and increasing customer loyalty.
Never forget that it costs your business far more to attract new customers, than it does to market to your existing customer base. In fact, research shows that in some cases it can cost up to fifteen times more to attract new customers, than it does to keep existing ones. So it really does pay to look after your existing loyal customers, strive to meet, and even exceed all their needs, however demanding. Remember the phrase "the customer is always right".
Offering a cheap product is not the only reason loyal customers come back to you again and again. There are other factors such as: service, knowledge and professionalism to be taken into account, as well as price. You have to give your customers as many reasons as possible to stay loyal to your company. Having the cheapest price for a given product or service is not always the answer some people think it is. In fact many customers may perceive that a cheaper selling price indicates an inferior product or service. Differentiate between your product and that of your competitors as much as possible, and focus on why your service is better than that of your competitors.
In all your marketing efforts, whether to existing or new customers, consider the following factors:
1. Value for money - ensure that your customers know they are getting good value for their money.
2. Quality - offer the best quality products possible for the price you intend to charge.
3. Company image - handle all enquiries professionally and ensure that staff knowledge and training is up to date.
4. Turn around - offer the best order turnaround you can. You could offer express delivery for an extra charge, or even waiver the delivery charge on high value orders.
By concentrating on all of the above factors, a good customer relationship can be built right from the very first contact and then maintained for a long lasting and profitable partnership.
Thanks for reading
Jason
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Jason Morris is co-author, search engine optimization and marketing consultant of Business Phone Systems Direct. An established communications company, offering advice and implementation of high quality business phone systems.
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 Google News Updated : Sat, 11 Oct 2008 05:49:35 GMT US Near Changing Stance on North Korea as Terrorist - Wall Street Journal
Wall Street Journal - By JAY SOLOMON WASHINGTON -- The Bush administration is hoping to announce as soon as Saturday that it is tentatively removing North Korea from its list of state sponsors of terrorism, in a bid to kick-start a stalled nuclear disarmament agreement, ... AP: US to remove North Korea from terror blacklist US May Remove North Korea From Terrorism List, AP Reports Publ.Date : Sat, 11 Oct 2008 04:02:40 GMT Paulson Indicates Need to Purchase Bank Equity `Soon as We Can' - Bloomberg
Bloomberg - By John Brinsley and Rebecca Christie Oct. 11 (Bloomberg) -- US Treasury Secretary Henry Paulson indicated that pumping government funds into banks is a priority and said financial markets will remain volatile. US planning to buy equity in financial institutions Treasury Weighs Investing In Banks Publ.Date : Sat, 11 Oct 2008 04:21:05 GMT G-7 Commit to `All Necessary Steps' to Stem Global Meltdown - Bloomberg
Bloomberg - By Simon Kennedy Oct. 11 (Bloomberg) -- Group of Seven finance chiefs, meeting after stocks plunged and as a global recession looms, vowed to prevent the failure of vital banks while failing to unveil new initiatives for thawing credit markets. Group of 7 Nations Seek Coordination in Rescue In latest bold step, Treasury will buy bank stakes Publ.Date : Sat, 11 Oct 2008 04:03:42 GMT Genomics project unites four Wisconsin research institutions - Milwaukee Journal Sentinel Milwaukee Journal Sentinel - By KATHLEEN GALLAGHER Wisconsin’s four biggest academic research institutions will collaborate on an initiative aimed at giving the state national stature in the fast-emerging field of individualized medicine, Gov. Marshfield Clinic gets biggest donation yet Wis. governor unveils gene research triangle Publ.Date : Sat, 11 Oct 2008 05:29:44 GMT Bush: US authority able to solve financial crisis - People's Daily Online
People's Daily Online - US President George W. Bush arrives in the Rose Garden at the White House to makes a statement on the economy in Washington, October 10, 2008. President Bush vows action on financial crisis Bush's Lullaby to the Markets Publ.Date : Sat, 11 Oct 2008 04:12:49 GMT McCain Lauds and Attacks Obama in Same Day - New York Times
New York Times - Senator John McCain of Arizona and his supporters at a rally on Friday in La Crosse, Wis. By ELISABETH BUMILLER LAKEVILLE, Minn. - After a week of trying to portray Senator Barack Obama as a friend of terrorists who would drive the country into ... McCain Moves to Soften the Tone at Rallies John McCain, speaking to supporters, tries to defuse an anti ... Publ.Date : Sat, 11 Oct 2008 05:08:14 GMT Democrats Are Gaining, Registration Data Shows - New York Times
New York Times - By NICHOLAS CONFESSORE and GRIFF PALMER Some longtime Republican strongholds in New York are becoming increasingly Democratic, a striking change driven by demographic shifts, intense voter registration drives by Democrats and allied groups and sagging ... Campus registration drives in full swing Ott, Hook face off for open county office Publ.Date : Sat, 11 Oct 2008 03:20:33 GMT Increase Online Traffic |
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