Apart from the challenge of satisfying a customer or a client is the challenge of establishing and maintaining that thin line of trust. Believe me when I say, one angry customer can ruin your entire company—and not necessarily in the courtroom. According to Nielsen’s Customized Research Services, word-of-mouth communications or condemnations in our case, are “the most trusted sources of consumer information.” Whether these ex-costumers are sharing their opinions via online platforms or magazines, their disapprovals will be definitely considered.
We have to remember, trust is the foundation of maintaining a long-standing relationship with customers, and it helps to increase the chances that customers will remain loyal. If you are ever in a situation where your relationship with customers is at risk in terms of trust, then seek to make things right, and demonstrate to them that they are truly valued.
Great, how do I do that?
First fix any potential tension between you and your customers. Follow up with them, ask them if they were satisfied with your product or service. If they were not satisfied for any particular reason, offer some compensation—don’t ignore them!
Secondly, be unique. Add elements of surprise to your Company. McDonalds for small fraction of time gave out free coffees to the public, Dominos gave out codes that would give customers 50% off their purchases—THINK of something! Yeah we understand that these are big companies and they can afford to take such financial hits. But sometimes you must sacrifice some marginal financial gain in order to secure loyal customers.
And there you have it, if you focus on consumer loyalty, in the long-run, you will succeed. There are just too many reasons why:
- Loyal customers buy more products.
- Loyal customers are less price sensitive, and pay less attention to your competitors advertising.
- Servicing loyal customers who are familiar with your Company’s offerings and processes is cheaper.
- Loyal customers spread positive word-of-mouth referrals to other customers.
Trust me…no trust us marketers…think in the long-run…focus on customer loyalty.