Customer loyalty is one thing that businesses should never take for granted, just like a relationship. Once you have established a certain bond with the clients, you have to make sure it stays that way. Customer loyalty is one way of knowing that the business is doing alive and well. Here are some of the benefits that customer retention can provide a business. You may also see greeting card designs & examples.
Let’s paint a picture, shall we? You are the owner of a 5-star resort. When you think of resorts, you think of families or tourists that stay for a long period of time as their home away from home. For estimation purposes, let’s assume that you have around 1,000 guests a day on average and the cheapest room would cost around $300 having a total profit of $30000 a day. You may also see thank-you card examples.
What happens when you suddenly lose a fifth of those guests because the on-the-job trainees (OJTs) have failed to uphold the room’s cleanliness and sanitation which as a result will never return to the hotel ever again.
That is around 200 guests lost bringing in at least $6000 which by the way is a huge loss already. If you have a target that you would want to reach, how are you going to do so now? With any luck, 200 more guests will suddenly make their way to the hotel like they are lost or something. But obviously, you need to extend marketing efforts if you still want to make your quota. You may also like differences between a calling card and a business card.
In a way, that should be a great thing because at least you know that your loyal consumers will keep coming back to you. If you have watched the Spongebob episode wherein Plankton now has his first loyal customer, then you would understand that they are your main source of income if they really like the products that you are selling to them. You may also check out fall greeting card designs & examples.
They do not only tend to buy more stuff or items from you, but will also encourage his friends and family to purchase the product as a form of marketing that proves to be beneficial to the company.
When Apple first released the iPhone to the public, suddenly everyone wanted one. Classmates would see their friends holding out their brand new iPhone and they would immediately ask their parents if they can have an iPhone for their birthday or graduation gift or something like that. What makes your brand different from the others that you believe that it might stand out? Customers have a tendency to indirectly market the company’s products to the people by just wearing them or drinking them.
Forget a unique selling proposition; the best brands have a unique retention proposition.
Indirect marketing by the customers can be a good thing or a bad thing. The key is to execute each day right, especially when you are in the hospitality or in the food service industry. If you are familiar with Kitchen Nightmares, there is a particular section wherein
Gordon Ramsay observes on how the food is cooked and how the customers would feel about their simple meals. Most if not all of the episodes of Kitchen Nightmares, you can see the customers returning the food back to the kitchen asking them to redo their food, obviously being disappointed in the quality of food coming out.
Because when customers start complaining about the tasty food being served to them, they would not normally come back to the restaurant spreading the word to their friends and family. But once the restaurant has redeemed itself in terms of reputation, they would not hesitate to come back and spread the good news with their family.
People who really care about the business so much will not hesitate to provide feedback to the management. When Gordon would usually provide feedback to the chefs about their food, it is important that they listen to what he has to say. Some chefs are arrogant and stubborn not to heed his advice since they would normally consider themselves right and the he was wrong. You may also see birthday card designs & examples.
But try to understand that underneath his hardcore self with the insults and whatnot, his job is to help the restaurant to be placed back on the map and to try and improve the quality of food, if at all possible. Feedback is critical to the success of any business.
Imagine if you talk to someone who has not tried a Starbucks drink in his or her life. You being the friend introduced him or her to the drink and suddenly, the person likes it and certainly cannot get enough of it. It will result into 2 things: the person will no longer bother to explore the possibility of other coffee shops and will name Starbucks as his or her go-to coffee store every time he or she is in need of a caffeine boost.
The other reason would be that the customer will go explore the brand further and what it has to offer. He will not just be interested in the frappuchinos, but will also want to try the teas that they serve, the hot beverages, the cakes, the food pastries and even the souvenir items from Starbucks considering that they have the money.
Whenever the company makes a mistake, it is important for them to apologize to the public as not to cause any further damage to their reputation. First-time customers will not readily accept their apology and attempt to take their business elsewhere. But for loyal customers, they tend to be more forgiving and understanding with the company and readily offer them another chance. You may also see examples of name card design.
Marketing. The sign that newer products are en route to the destination. I mean, who does not love a good promotion about the coffee just being $2 on a Wednesday, right? Every time the company will try do a marketing stunt, the customers will gladly take interest on what new promotions and new products the company has to offer. You may also check out examples of business card design.
Customer retention is basically relationship building. Good relationships make life better for everyone. They’re mutually beneficial. Sales, on the other hand, are transactional. They’re very price-sensitive and come with a lot of “What have you done for me lately?” attachments.
Customer loyalty is very important. Make sure you retain your customers with these attractive customer loyalty card designs and examples.