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Monday, January 20, 2014

Customer Loyalty: The Backbone of Any Successful Business

The true strength of any successful business is customer loyalty and any business owner will attest to this. There are many other benefits that are essential to a thriving business that can emerge from high customer loyalty. The question becomes how do you increase customer loyalty? There isn't one answer, but rather a combination of different methods that can help build customer loyalty. Many of these facets an how to employ them are included in a book released by the Harvard Business Review which details their importance.

Harvard Business Review on Increasing Customer Loyalty.

Customers that come back to buy again and also bring their friends with them to buy is the main idea behind the customer loyalty plan. This is a pretty simple idea, but executing it is not. To start on the path towards this kind of success make sure that your employees enjoy their jobs. If your employees are happy their happiness will spread throughout your business and to your customers. Your customers will then get the feeling that something good is happening at your business.

Turning negative situations that arise into positive ones is another step to take. Training in this skill will be needed by your employees, but since they are happy they should learn quickly. There is tremendous opportunity to deepen a relationship when a customer has a problem. Start with the idea of never saying no to a customer, make sure that they know you are making an exception just for them, and then exceed their expectations for a solution. Customers who emerge from this situation satisfied will refer in addition to remaining loyal.

Certain steps can be taken to increase customer loyalty, which has been learned by the Harvard Business Review through extensive research they've done.

The above ideas are just the beginning and the book goes into much more detail on the subject. Customer service is the focus of many aspects of customer loyalty, but the book points out others located in different arenas. All the topics concerning customer loyalty are reviewed to help you build a well rounded plan.


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