Gaining customer loyalty means going the extra mile
Recently, I’ve been discussing with my team and also my clients the importance of obtaining and maintaining customer loyalty, tasks which have become more difficult in recent times due to a rise in regulatory, economic, and competitive conditions.
With choice always available, in order to keep existing clients on the side, it’s becoming increasingly clear that you now need to consistently demonstrate certain attributes and carry out certain key actions.
These include showing clients that you’re available all the time and expressing an active, genuine, and ongoing interest in their financial affairs – and not just contacting them for referrals or to provide them with another product or service.
Keep in touch
I cannot stress enough to the team the importance of ongoing contact with customers. I don’t just mean when payment is due or when you need to reach targets, but a simple email or phone call to enquire if the client needs any help or advice. Making the customer feel important is paramount in securing their loyalty. Contact them about something besides your product or service, make it about them, NOT you.
Become the main point of contact
If a client feels comfortable liaising with you and doesn’t come under any pressure, then they are more likely to contact you for other requirements too.
Making the consumer aware that you are available for anything they might need, letting them know you have good contacts in other businesses and services, and showing them that you can be their one point of reference for almost anything, will keep them coming back to you time and again.
It may sound obvious, but it’s crucial to keep on ‘selling’ the product or service, well after a client has initially bought into it. Make sure your clients remain aware of all the benefits of what they’ve bought and reinforce the fact that the client’s decision to buy into the product or service was a good idea.
If you concentrate on all of the above – making yourself available to the client all the time, not just when you’re trying to have them buy something; become their point of contact for anything and everything and keep reinforcing what you’ve already sold – then you will gain and maintain customer loyalty.
Good clients can be hard to find in today’s market. So hang on to them.
About Mike Coady
Mike Coady is an expat expert based in Dubai and is on hand to help with all of the above and more.
Mike is an award-winning money coach and industry leader in the financial sector.
Qualified to UK Financial Conduct Authority (FCA) standards, a member of the Chartered Insurance Institute, a Founding Fellow of the Institute of Sales Professionals (FF.ISP), and a Fellow of the Institute of Directors (FIoD) and featured as a highly qualified Financial Adviser in Which Financial Adviser.
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Blog published by Mike Coady.