Customer loyalty is one of the hottest topics in business — and one of the most misunderstood.
As Seth Godin pointed out recently, if you have the cheapest price and customers keep coming back, it doesn’t mean they are loyal to YOU!
To me, customer loyalty means that with all else being equal — or, even moderately unequal — the customer chooses to return and do business again with you.
We cannot reasonably expect customers to return if we are not competitive in terms of price, service, and quality. However, when we create Ultimate Customer Experiences, we can become the preferred choice, even if we aren’t offering the superior price or product.
But, we should not misunderstand the elements creating customer loyalty.
With the NFL kicking off this weekend, I am on a football-high! And, my beloved Indianapolis Colts have — especially for a smaller market like Indy — a pretty big national fan base. (Amazing for the fans like me who vividly remember the 3-13 years!)
My guess, though, is those Colts fans in Albuquerque, for example, aren’t really “Colts fans” at all. They are rooting for the team where Peyton Manning plays quarterback.
(You sure don’t see as many Bulls jerseys since Michael Jordan retired.)
If the Colts misunderstand the direction of the loyalty, unless they are prepared, they may be astonished at the disappearance of support when the time finally arrives when Manning is no longer on the field.
Do you have employees who are responsible for creating the customer loyalty that you may mistakenly believe is directed toward your business? How well are you taking care of them? What would happen if they would leave and work for your competition?
Are you busy growing your other team members to become that type of “customer magnet”? Are you surveying customers to ascertain what is generating their loyalty?
We had better get busy.
In business, there is no “off-season.”
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