Building Customer Loyalty

By Chris Lytle

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Investing in Your Current Customers
"The average corporation loses half of their customers in five years. You can distill that down to the rep level. The average rep loses half their customers in five years.

Yet the biggest myth is that the best way to grow your business is to first go out and get new customers when, in fact, energy invested in your current customers yields five times better returns. And by doing so, you actually have more time to get new customers in the process."

So said author Tim Smith in a MAXim interview.

Smith suggests seven steps to building customer loyalty.

Here's one of them: "When you first meet a customer, you ask them one question: 'What will it take to provide you with the best service you have ever been given?' You just sit back and listen thereafter, and that's what makes the difference. They will tell you exactly what it will take to give them the best service. You simply go out and execute it."

If you're constantly building your base, then you're not getting growth until the base is rebuilt. Keep your base firm; keep people happy and keep them loyal.

© 2007 Apex Performance Systems
CPW-009-009243

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