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Customer loyalty; is it from them or towards them? Perhaps it is the business that does not show loyalty “Where is the customer loyalty today?”, is a question that is frequently asked. There was a time where a customer might find your business in the yellow pages. Perhaps the new customer was referred to you by someone that previously had been a customer. You worked hard; did a good job; delivered on time, and you charged a fair price. From that experience you had a reasonable expectation that the situation would repeat itself. It would repeat enough times for you to provide a reasonable living for yourself and those that worked in your business. It created what would appear to be a form of customer loyalty. Where is the customer loyalty today? The customer you are seeing today has been on the Internet. They know more about the products and services you offer than ever before. They also know the price of every item you sell by way of the Internet. Through the Internet they have found every other business within a 150 mile radius they can now do business with; including the new one that is trying to buy business by having prices so low that nobody can compete with. Of course, that business is not going to be in business very long, but in the interim, they are taking business away from your shop. And this does not include online businesses. After all that you have done for these customers, where is the customer loyalty today? All of this represents a valid observation and a valid question. However, let’s look at the situation from a different view point; that of the customer. Something ignites the interest of an individual to explore their artistic skills. When they first visit with someone in an art supply store, you can sense their excitement in the conversation as they prepare for their journey. The salesperson, excitedly tells the customer how much they are going to enjoy their new passion – starting with this conversation and the purchase they are making today. The salesperson helps with this by telling of their passions and endeavors in the arts. As the initial transaction is completed, perhaps we sign them up for our newsletter and share a flyer telling them of the classes we offer. Over a period of time we begin to see the difference in the aspiring artist and the person who had a passing fad. Isn’t that the way it frequently goes? We are certain to lose the second person as a future customer. Worse yet, if the art supplies they purchased are sitting out to be seen in their home, the supplies give a start to a conversation about something that is no longer interesting. Definitely not a good referral to be had here. The first customer is the one who did continue their interest in the arts. While we could look at our newsletter and Facebook postings to be our contact with this person, unfortunately every competitor, including online, can do this. We sell items that people do not have to have to exist. Sure, someone could say they need them to feel alive. The truth is they really only need food, clothing and shelter. Therefore, we have to connect differently. We have to be a part of their love for the arts. We have to fulfill the promise that was first made to them by our salesperson as they first came into our business. If we demonstrate our loyalty to both of the customers we described, we have an opportunity to turn things around with the customer whose passion did not grow. We have an opportunity to grow with the customer who demonstrates a true passion for the arts. When it comes to a referral, it will surely be to the business that demonstrated their loyalty to the customer. We can observe a person who demonstrates a loyalty to price. Or, we can enjoy and demonstrate our like-minded loyalty to the arts with a customer. If you would like to send this article to someone you know, please use this form to forward this page: This article is copyrighted by Tom Shay and Profits Plus Solutions, who can be reached at: PO Box 128, Dardanelle, AR. 72834. Phone 727-823-7205. It may be printed for an individual to read, but not duplicated or distributed without expressed written consent of the copyright owner. |
MAY 2024
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With over 25 years of frontline experience Tom Shay is America's leading Small Business Management Expert. He's a "Must Have" for your next event.
Small Business
The May Small Business Advisory is titled "Planning for a successful accountant" and is appropriate for many with the April 15 tax deadline having passed.
Did you work with your accountant? Or, did you just give them a bunch of papers and wait to receive a completed tax return?
Successfully working with an accountant requires a partnership. This month's Small Business Advisory gives suggestions of how to make this happen in 2024.
Small Business
We see that many small business owners have too much of a focus on the "top line" of their income statement.
Increasing revenue is great, but it is not a cure all for any challenges your business is facing. And sometimes, incresing revenue can create a challenge.
Who is your customer? Some small businesses have no focus. Their customer is whoever calls or walks in the door.
And some small businesses have determined which customers, in sufficient numbers, they should spend their efforts to attract.
The article of the month shares an old Southern rhyming couplet about business; "The bertter you niche, the more you get rich."
Lean Startup by Eric Reis is our suggested book for May.
As the title suggests, the reader of the book would be someone that is starting their business. However, we see more value than just that.
Perhaps you have been in business for many years. We think this book could give insight to items, and methods, that a small business owner should think about with their business today.
