How to build customer loyalty

Forbes 

Jul 20 , 2015

According to the Harvard Business Review, the average loses 50% of its customer every five year. A suggests to solve this problem with need to nature existing customers. Every company strives for higher customer retention, but often focus more time and energy on gaining new customer.

Many business simply focus too much energy on the task of winning new customers or they invest in wrong customer. Basically 80% of sale come from 20% of customer- the 80/20 rule. Too many business neglect that top 20% base in pursuit of new customer.

80% sales come from 20% of customer - 80/20 rule

Rather than a "here's what we offer" tone in your marketing efforts, think about what your customer would like to hear. What are the benefits of doing business with you? figure out their points and adopt the tone of "how may I help you?". The different can be extraordinary. Customer value it if you can help them solve problem, give them more time or enhance their lives. One of the simplest ways to retain customers is to ask them what they seek from your business. You may even consider conducting a focus group with your customers, giving opportunity to tap into their collective needs and wants.

Strive for Spectacular Customer Service

Customers who come to you with a problem or complain provide a unique opportunity and a fleeting moment to make it right. How you handle it can determine whether the customer leaves or become more loyal to you. A customer who feels cared foe is also likely to assist you in solving the problem and identify how to prevent that same problem in future. Even if you perceive they are wrong, it is usually better to take the loss and compensate the customer especially in this day social media. One unhappy customer can do a lot of damage to your reputation very quickly.