Customer loyalty

How loyal are your customers? Are they coming back because the way you treat them? Or Just because you offer cheap prices?

Some retailers go beyond the call of duty to make customers feel more than welcome in their stores. Some make them feel like guests. Furthermore, they may be pleased and satisfied with a particular visit, but it doesn’t translate into the same affinity and desire to return again and again.

Should you treat them as friends? A friendship is special things. People might go out of their way to see a friend. They care about them, whatever they might need or enjoy their company. On the other hand, a guest, in most cases, is unwelcome whereas a friend is not!

You need two to tango, right? Retailers must invest more time with their customers and get to know them and listen to their concerns in order to establish the trust necessary for a strong, loyal, long-lived relationship.

Loyalty translates to repeat business. Statistics show that a 5 percent of customers’ retention could increase profits from 25 to over 100 percent.

Retailers understand the concept of repeat business and want to do what they can to get it; however, they should look into turning their customers into friends rather than treating them as guest.

It takes patience and more than one visit to achieve it. Friendships are not built over-night, they need time to mature but they can have great benefit as long as you are honest and sincere. Cheap prices will not do the job.