Champy is right -- in a nutshell -- loyalty is a two way street. Show your loyalty and appreciation to your customers, and chances are they will come back.
Jim Champy:
I’ve always admired the optimism of economist Paul Samuelson. When asked about the impact of an impending monetary crisis, Samuelson replied, “The sun will rise tomorrow, and the bridges will continue to bear traffic.”
Despite the current world financial crisis, markets will return and customers will come back. Customers may change their buying habits and demand more value in what they buy, but the challenge for companies will be to keep customers coming back.
In researching my latest book, INSPIRE! Why Customers Come Back (FT Press, 2009), I found many examples of companies that have developed exceptional customer loyalty. Not only will these companies survive the current crisis; they will also grow right through it.
Like most business challenges, there is no single formula for maintaining customer loyalty, but the smart companies I’ve studied engage their customers by displaying a higher sense of purpose and being authentic in all they do.
What makes these companies special is their fidelity to long-expressed beliefs. They consistently uphold their own—and their customers’—values in their products, services and actions. [Read the rest]
posted by: gqpartner
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