Is Your Customer Loyalty on Life Support?

downward trend

What is customer loyalty?  Does it even exist — after all customers can be loyal to your business because of convenience only, yet given a change in their lives — whether a new job or a new home, their loyalty vanishes.  Customers can also be satisfied while doing business with you yet they aren’t loyal. Do you do business with multiple companies that are competing for your hard-earned money?  I suspect you do, as do many of us — you may buy a book from your local book-store or department store, yet you also likely buy books online too. So, how does one attract the right customer, convince them to buy, return, buy more and refer their friends and family?  The answer is simple to state in theory yet so many businesses find it difficult to implement because the answer is like a puzzle that requires all the pieces to achieve ultimate success.   Defining Your Ideal Customer The first step is one that many of us fail to do.  We fail to identify our ideal customers — those people we want to serve and who are also highly profitable while being easy to serve.  Ideal customers appreciate what you offer to them and they make your lives easy compared to difficult or fickle customers.  They do not demand more than your product or service provides. Effective marketing does not include throwing a “fishing net” out into the marketplace in an attempt to catch as many fish as possible.  Some fish will be great customers, some awful customers and the […]

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Living Your Brand Promise

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“How can I optimize my marketing budget?” and “How can I get more sales?” … these are two questions that I’m regularly asked and they are not only valid questions but they are indicative of reality… we need to spend less on marketing (and other expenses) while we increase our sales (and profit). My answer is usually the same… Where do you currently spend your marketing budget? What marketing activities can be proven to increase brand recognition and sales? What do you spend your money on that you shouldn’t because it does not work? What do you spend money on without knowing if it is producing results? Then, I ask tougher questions, still related to sales and marketing… Who is your ideal customer? What is your brand promise? What is your customer acquisition cost? … and once we know these things… I ask the one-two-punch questions. Are you living your brand promise? Consistently? If you are not living your brand promise — consistently — and your customer experience is not consistently equal to or greater than your brand promise, you are simply wasting money. Marketing isn’t just advertising, it’s every exposure to your brand.  From the cleanliness of your premise, to your service, quality and your customer experience, you must be relentless in delivering according to your brand promise. Put your energy and money into hiring, training, equipment, infrastructure and whatever else it takes so that you know that day-in-day-out you will deliver what you say do. Then… work on creating and nurturing relationships with your customers (you know, the […]

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