Showing posts with label customer loyalty. Show all posts
Showing posts with label customer loyalty. Show all posts

Friday, October 17, 2008

9 trust-gaining strategies (Part2 / 3)


Yesterday I published the first of three entries that focus on strategies that gain trust. Today I continue with the next three strategies that I consider to be important in order to gain trust. I realise that the things that are important to me might not be important to you, but I sincerely hope and believe that you will find at least one strategy that "speaks" to you.

4. Show some loyalty to everyone


Loyalty reaches beyond, but not excluding, your colleagues and clients. It goes back to the roots of family life, and in a sense refers to the glue that keeps family together. We often laugh at the idea that we can not choose family, and that family stick together no matter how big the fight or the mess you made.

The reality is that fights will occur. Disagreements are something we can not avoid. They will cross your path for certain. The important thing to remember here is that you have to keep the fight inside the team (family). You don't put your problems, differences and dirty laundry out on display for all to see.
Show some loyalty. We are often presented with the opportunity to agree with someone about a fellow-worker or team member's distorted ways. When was the last time you defended another person who couldn't defend him / herself in his / her absence?

Bad-mouthing someone behind their back will cause the person you are talking about to find out about it, and they will certainly not trust you. The person you are sharing the conversation with will also doubt you, because the assumption will be made that you probably bad-mouth everyone behind their backs. Show some loyalty and stick up for fellow-workers, friends and family.

5. Take responsibility


How often do we point fingers when something goes wrong? Pointing fingers destroys trust. By taking responsibility for things, even if you are not a manager or team leader, builds trust and loyalty. It brings down the walls of crossed arms that point fingers in all direction. Perhaps this is one of the main reasons that governments across the world is no longer trusted.
Who will be willing and able to exercise their right to speak freely and share new ideas if there is a ton of bricks that will come down on them when they open their mouths?
Be a stand up and accountable person. You will gain much more trust if you have an attitude that says "this is our mistake. Lets learn from it and move on".

6. Give credit to others


"Nothing is ever yours until you give it away" - Albert Einstein

In most things I accomplish there are more people involved than just myself. It only makes sense to me to be generous with what you have done. Yes, maybe it was your idea to do it in the first place, but it involved other people. People who made it possible to realise your dream, concept or idea.
By scooping up all the credit you have accomplished to loose people's trust in you. If you have sincerely shared the credit with everyone who stood by you, and made it possible to accomplish your goals, you have cultivated trust.

The gain in trust lies not only in your ability to give sincere credit to others, but also in your ability to share. Don't take credit that belongs to someone else. Take credit only for the things you have actually done, and share the spotlight with others. There is nothing more aggravating than to see how someone else takes the trophy for the work you have done.

Tuesday, October 14, 2008

Create a customer BUZZ!

5 Reasons why you should focus on product development


Creating a customer buzz is all about creating NEW products. Most companies take an existing product, change the shape, size and colour, make it more stylish, and then attempt to sell it to their clients as a new product.

Differentiation is a key-factor in various aspects of marketing. If you want to be different from your competitors you should focus on the development of products that will get your customers excited. Avoid the mistake of becoming a company that starts with one idea and finishes with the same idea everyone else has.

You have to master the art of creating and developing new products, and here are 5 reasons why you should:

1. It keeps your customers excited


Customers get excited when a steady stream of new products find its way to the market. Nothing gets customers in a better buying mood than the excitement of a whole new product range.

What can I do to get customers excited if I don't have the ability or resources to invent new products?

The main ingredient required is a little creativity. There are many businesses who spend a lot of time, money, and energy in finding new clients. It is in my opinion just as important to retain clients as it will be to find new clients. It is proven that it is more expensive (approxamately 5 times more expensive) to gain a new client than to retain a client.

Sometimes an improvement in the quality of client service will get clients just as excited as a new product or service. So, if you can't afford developing new products and services it might be a good idea to find areas in your business where you can improve and get your clients excited.

2. It gives your clients a reason to stick around


The slightest hint or promise of the newest, latest and greatest creates a customer buzz. Your clients will stick around in anticipation, waiting to see what you offer next.

Communicating with your clients on a regular basis is an important aspect of this exercise. Communicate with your clients in person, in letters, in faxes, in emails, through your website, with brief newsletters, etc.
As long as your communications are solicited you don't have to worry, you can’t over-communicate with your customers.

I always encourage my sales executives to make sure that they never contact a client unless they have something worth wile to share with the clients. The purpose of your contact should be to add value each time you interact with your client.

It is important to have your clients stick around, because real profits come from repeat business. You want a constant stream of sales, repeat business, clients who stick around.

3. They will buy from you as long as you have what they want


It is a well known fact that people's needs change over time. As long as you can succeed in providing products and services (new ones) that satisfy their needs they will stick around.
The main requirement for you would be to keep a pulse on what is going on around you, the latest local and international market trends, and advances in technology that could give you the leading edge.

Always keep in mind that the customer is the boss, and if the boss is not happy you are fired.
In fact, if the customer is not happy everyone in your company is fired. If your customer can't find what he wants he will spend his money elsewhere. Give the customer what he wants and you will have a long relationship and employment. The only people who will benefit from your unhappy clients are your competitors.

If you don't know how your customers are feeling about the quality of your products and services, ask them. Send a survey to your clients once in while and take action to rectify any serious problems.

4. It creates customer loyalty


There will always be clients who want to be the first to try, and those who want to be the first to follow. Your constant introduction of new products creates an expectation that has a compounding effect on customer behaviour. So, retain your customers' interest with a steady stream of new and innovative products and services.

An important factor that influences customer loyalty is whether or not your customers receive exactly what they paid for. Don't develop products and services simply to get your customers to enter your door. The disappointment of a client who didn't get what he expected and paid for will do great dammage to your business's reputation.

5. It sends a message to your competitors


By introducing new products you will be sending a clear message across to your competitors.
Yes, it won't be long before they take your products and service, change the shape and size, and sell it to their clients as a new product. It will also not be long before you are recognised as a market leader, and your competitors recognise you as a trend setter.
Your competitors will receive a clear message that you are here to stay and that you mean business.

Favourite books in my shelve

Favourite books in my shelve