Modern living appears not to encourage the personal relationship like it once did.
There was a time that the local shopkeeper would know all of their customer by name. There was a time if you were a few pennies short, you would be let off or trusted to settle up next time.
This was a time where businesses delivered exceptional value to customers, went above and beyond and asked nothing in return. However, they got something in return, loyal lifelong customers.
In my experience, in this digital age where a large proportion of interactions are completed via a screen, the good old fashioned customer relationship and values have been lost.
Do you know the name of that staff member at your local store? Do they put aside your favourite magazine each month? I want business today to be more like this again.
I solemnly believe in this digital era such relationships can exist and I am on a personal mission to bring back the ‘lifelong customer’ relationship of yesteryear.
Today it can cost 4-10 times more to acquire a new customer, than to retain an existing customer.
Data tells us that repeat customers typically spend 30% more than new customers and just be increasing customer loyalty by just 5% can lead to profit increases of 25%+.
So whilst we will not forget about attracting new customers, what about focusing more effort on the repeat customers?
Businesses need to and can do more to better retain existing customers than they are currently.
Some of the most successful and fastest organisations today are successful because they are going above and beyond, delivering exceptional value that is recognised by customers and is returned through repeat custom.
Online shopping might mean that putting aside a particular magazine or knowing customers in as you would with face to face interactions, is not the same; but there are modern equivalents that can be achieved, through smart, innovate customer focused thinking.
My mission is based on values, reigniting and addressing those values that have been lost in fast paced digital world.
Need assistance at building your lifelong customers? Get in touch.