Retaining Customer Loyalty

Anita · Posted: February 22, 2006, 4:33 pm Post subject: Retaining Customer Loyalty

Retaining Customer Loyalty

Retaining customers is most crucial to a company's long-
term performance, but strangely, an aspect that
completely confounds managers across every industry all
the time. This seems rather illogical because it is
surely far easier and cheaper over a long period to
retain an old customer than to make a new one. For your
business to succeed, you need to realize that the returns
you get from a loyal customer is far more in comparison
to that which you get from one new purchase.

Over the years it will be seen that it takes much less
effort to make a customer do repeat purchase than to look
for a new customer every time. It is always cheaper and
more effective to maintain your existing customers. If
you have a lot of repeat satisfied customers then it will
naturally build up your brand name and reputation. The
repeat purchasers are the source from where new customers
are introduced. This happens because the old customer
spreads the word about your good product and services.
There can be no better advertising than this.

Since new customers are normally introduced through old
ones, your existing customers help promote your business
anyway. On an average, a new customer requires at least
seven visits before he buys something from you; an effort
that is greatly reduced if an old client refers you. So
you save not only money but time and effort too. Look
after your existing customers and they will ensure that
your business succeeds and grows with time.

Building customer loyalty is not a very difficult task.
By staying in touch with your regular customers, and at
the same time keeping an eye on the needs of prospective
clients, you can be ready with the type of service thy
are looking for. Customer surveys and feedback, loyalty
programs etc. are of great value in this field. By
meeting their requirements at the very outset, fulfilling
them or going beyond them, you will win your customers
over and ensure that they will want to continue their
association with you, which is what you were looking for
in the first place!

If you give your clients incentives for continuing to do
business with you, they will pay attention to what you
have to say to them. On the other hand, if they feel a
lack of interest in your approach, they are sure to leave
you. So take care of your current customer base; you are
where you are because of them and if they weren't there,
you wouldn't be either!

Scott F. Geld is the Administrator of http://www.marketingblaster.comMarketing
Blaster, Inc, a pay-per-click traffic source that
continually out performs the other major search engines in
conversion ratio and ROI. Dont believe it check out:
www.marketingblaster.com