One of the most important aspects of any company is its customers – people who have made a transaction with the business. They are the key reason why businesses exist, are major influences on the success or failure of a business in its market, and are also integral for many aspects of the company’s processes i.e. its financial, marketing, and other organizational goals.
This is why it’s integral for businesses to attract and have as many customers as they can that will push through with their transactions all the way to the finish line. Businesses are always concerned with how large of an attention they are garnering from their target customers, how wide their scope is in their market, how they can entice people to check them out, etc.
Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy Read More
Catching the customers’ attention has become more difficult as time passes, because customers are always changing with their behavior and preferences. A few years ago, they were immediately taken with brands and companies that are on the Internet, as it means that they are on the top of technological advancements. Before that, businesses that manage to make themselves known through the trimedia were the powerhouses in their respective industries because they managed to cross boundaries and attract attention in a wider scope. And so on and so forth, all in the name of answering to the needs, demands, and preferences of their market when it comes to knowing them.
Nowadays, customers are very attracted to business, not for the medium that they use, but how they treat their customers. Social media has become the Layman’s medium for knowing where to shop, where to look, why they should choose a certain business, and why they should avoid others – mainly based on how other customers were catered to by the organization of their choice.
But attracting customers, especially new ones, should not be the only goal of a business. For it to truly succeed, a loyal customer base has to be established. This is vital for a business as a loyal customer base is essentially a congregation of people who have transacted with the business and will continue doing so out of a sense of trust and loyalty. They are not as easily swayed as more casual customers to shift between competitors, and are more willing to listen immediately than new customers. They are essentially one of the most important people for any business, in any industry.
Building customer loyalty is not an easy task, no matter the size of the company. Competitions are getting stiffer, and with the ever-changing market preference, a small blunder can be a devastating mistake waiting to happen – bad news for any company that is trying to cultivate its customer base. Whether you are running a well-established, well-known, highly-successful brand or a startup venture with lots of potential, you are more than required to meet customer expectations with quality service to stay relevant in the game of business competition.
In this infographic by BrainBoxol, you can learn about some of the best practices that can help you retain loyal customers and increase levels of repeat business today.