November 16th, 2008
How to Build Customer Loyalty
Building the loyalty of your customers
As rocketing gas prices and food costs increase, consumer spending is down. If people aren’t spending as much on your products or services as they used to, you can’t rely on sales or discounts to bring them in ? the hit to your bottom line might not make up for the brief period of increased customer activity.
Instead, you need to rely on customer loyalty. The Pareto Principle says that 80% of your sales come from 20% of your customers. To keep these customers coming back, you need to help them remain loyal to you. That’s right; you can take steps to build customer loyalty. Here are a few ideas to do that: