Customer loyalty is critical to a company’s long term vitality. A loyal, happy group of customers will do a lot to help you grow your business. They save you money, time and energy (it’s cheaper and easier to take care of them than get new ones). They are your best source of referrals. You know what to expect from them, so there is less learning you need to do over time.
They give you peace of mind because they bring in a steady revenue. They are willing to give you truthful and useful feedback. They trust you so they are more likely to buy on the “upsell”. There’s usually less of a price objection because they know the real value of working with your amazing employees.
Loyal customers give you the opportunity to “right” a problem if you screwed up. They set the bar higher so you need to keep improving. Of course, there is a link between happy customers and happy employees. More employee loyalty for you means less turnover, less recruiting and training costs and more “intelligence” in residence. You do want to be the smartest company in your industry, right?
