When a company learns to give a CUSTOMER what she/he wants, the customer becomes LOYAL.
She/he buys on a repeat basis and creates profit where no profit existed before.
The five principles that create customer loyalty are:
1) People do business with people – How you are with the other person is most important. What you feel for the other person is most important. How you show your empathy to the other person is what becomes most important, at the end of the day. SMARTEST will not win the day, HEARTIEST SMART will make it!!
2) Differentiation – how is your product or service different from many other offerings. How well you understand that difference, that one bit that the other competitor has not given to your customer
3) Value and assurance – Value is both tangible and intangible. In other words, it is perceived and also quantified. No customer wants to feel left high and dry or middle of nowhere. Much more than product quality assurance is the feeling of assurance the customer feels with you. TRUST is the key element here.
4) Effective communication – It is about proactively communicating issues and resolutions. Giving them the feeling (through your intention and action) that you are dependable. This is what builds sense of assurance in the mind of the customer
5) Focus – Are you doing everything you can, in the most effective and efficient manner to meet customer need. It is your attention to details, wanting the customer to be delighted…ultimately wanting the customer to win in his game that makes the BIG DIFFERENCE!!
In business and in life in general, WIN-WIN-WINS. When I work for your WIN (whether customer or vendor or employee or friend or just a stranger next to me) and then my WIN, then relationship naturally WINS and becomes prosperous for both you and me.
Thanks to Sanjoy Kumar Malik whom I follow in LinkedIn for original post. I’ve shared here with permission after some modifications.