Leadershipbydesign
News From LBD
July 2016 Volume 6 Issue 7
 
      Keeping Customers Loyal               

    It's a well-known fact that it costs a lot more to acquire a new customer than to keep doing business with your existing ones.  For this reason, the best way to become profitable is to grow and maintain loyal customers who keep coming back time and time again. It's  about relationship building and leadership. So what can you do?
 
Customers Aren't as Loyal as They Used to Be In the past customers would find a company that offered a product or service that met their needs and remain with that company for many years. Times have changed. Customers can be tempted away by a competitor's offer if they feel that it is less expensive or better than yours. Customer loyalty has become more of a science than it ever used to be, and it's critical to success.
 
Offer Discounts for Repeat Business You will see some businesses offer potential customers a 'first-time' discount as a method to get people to try their products or services. We believe it is better to reward loyalty by giving customers a discount each time they purchase your product or service. Over time, this helps to build a long-term relationship with your customer. So when the competition comes calling, your customers remain with you because they receive a discount from your business every time they place an order, not just the first time.
 
Keep Mailing Lists You may find it beneficial to keep two mailing lists: one for your prospects (people who might buy from you,) and one for your customers (people who have bought from you.) You should lavish attention on both lists, but especially on the existing customer list.
 
The secret is this: contact, contact, contact. Some examples include sending holiday cards, inviting them to meet with you for lunch, sharing a new and exciting product or service, etc. A good tip is to always think about how you can create a better relationship with your customer.
 
If your product or service is one that the customer will need at regular intervals or at a certain time of year, be sure to track this type of information in your customer database and send something out prior to that time frame. This will keep your name and contact information readily available for your customers.
 
In addition to regular emails, you may want to consider sending a newsletter. The objective is to provide useful information about your industry, and information that your customers will find useful. As a bonus, you can archive your newsletters on your website, so they can be found by people searching for related words in search engines.
 
Be Crazy about Feedback -  You also want to get as much feedback from your customers as you can. Many companies fear feedback because they fear it will all be negative. We believe feedback, whether positive or negative, is good for the company. It allows you to be sure that your customers are satisfied with what you provided, allows you to fix anything they're not happy with, and provides you with the opportunity to learn about new needs. Customers will appreciate this and they'll like it even more if you actually implement their suggestions.
 
Provide a Personal Service Go the extra mile to make your customer feel like they're your friend, and not just a tracking number in your database. Tailor everything you do to their needs, and make everything easy for them. Remember, creating customer loyalty is really about building a relationship with your customer.
 
Finally, customers really appreciate a little thank you note when you've received their payment. For an extra personal touch, we recommend you hand write your note. That keeps it personal and continues building your relationship!

 

What Leaders Are Reading

The Big Leap by Gay Hendricks -- In The Big Leap, Gay Hendricks, the New York Times bestselling author of Five Wishes, demonstrates how to eliminate the barriers to success by overcoming false fears and beliefs. Fans of Wayne Dyer, Eckhart Tolle, Marianne Williamson, and The Secret will find useful, effective tips for breaking down the walls to a better life in The Big Leap.

Don't Sweat the Small Stuff at Work by Richard Carlson -- Understanding stress and the ability to manage it is important. However, the  broader  question is "what can we do to manage stress and or even eliminate it altogether?" That's what Carlson addresses in this book.
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Leadership Tips for Reducing Stress
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Excellent customer service providers are in tune with their emotions as well as the emotions of customers. Yet this can be stressful at times.
 
Stress management is your ability to deal effectively with adverse events and stressful situations without falling apart.
  
  Richard Carlson''s book, "Don't Sweat the Small Stuff at Work,"  suggests the following to help eliminate stress from your life.


 *Become less controlling. Give yourself permission to not be in control of everything.


*Avoid bragging about how much work you have and how busy you are. Everyone is!

 

*Brighten up your work environment. Make it a fun place to go and be.


 *Take breaks. Take both mental and physical breaks as they immediately revitalize you.

 

*Accept the fact that you will have a bad day once in awhile.


 *Examine your habits and be willing to change some of them.  Habits are sometimes an enormous source of your stress.


*Let go of battles you can't win. Many aren't worth the effort if you truly analyze the situation.

*Don't get stressed by the predicable. Life just happens sometimes.

*Marvel at how often things go right. Focus on the positives, not the negatives.

*Do the hard and dreaded things first. Then you don't stress over them the rest of the day.

*Ease off your ego. Life is too short.
 
For additional information contact LBD.
John Branstad
John Branstad

Quote of the Month
  
"Customers won't know how good your organization is until you make a mistake."
 
 John Avella         
John Branstad
www.leadershipbydesign.org
763-213-5267