How to Earn and Keep Customer Loyalty

Today’s buyers –– empowered by the Internet, assured by the enormous choice in every segment of commerce and capitalizing on the acute vulnerability of sellers struggling in this current selling climate –– have taken control of the entire purchase progression

The confluence of technology and choice described in Robert H. Bloom’s The New Experts, started customer loyalty down the slippery slope –– ultimately, customer loyalty died. Buyers no longer care which seller they buy from –– which gives buyers all the power. But buyers do care about fulfilling their needs and making the best purchase decision –– and that is how you can win them over at four critical customer moments.

The Four Moments That Count

1. The Now-or-Never Moment –– your first brief contact. It is impossible to overestimate the importance of your prospects’ initial contact with your company.

2. The Make-or-Break Moment –– the lengthy transaction process. Most leaders know from experience that far too many transactions fall through at the Make-or-Break Moment, the extended period of consideration, negotiation and decision to purchase.

3. The Keep-or-Lose Moment –– the customer’s continued usage. This is the period when your buyer is actually using your business’s products or services. It is important to nourish and maintain your relationship with a customer while that current customer is using, consuming, enjoying and relying on the product or service he or she purchased from you. Maintaining performance is essential at this moment.

4. The Multiplier Moment –– repeat purchase, advocacy and referral. Your Multiplier Moment is your conversion of a one-time customer into a repeat customer and an advocate and referral source for your company. Customers’ repeat purchases from your firm and enthusiastic recommendations of your firm will produce transactions that require far less investment and will create far more profitable revenue. This is why your business must sustain its performance long after the completion of the transaction and throughout your pivotal Multiplier Moment.
_________________________________________________________________________

XE1To learn more strategic methods
to earn and 
keep customer
loyalty, subscribe to
EXECUTIVE EDGE
and get the skills you need
to get ahead.