What are some ways that a business could start creating more loyal and profitable customer relationships? This question is getting more difficult to answer. With apps to instantly show the way to "best prices", loyalty can last as long as the five seconds it takes to click and review the price options. B2B relationships last as long as it takes for the customer or client to Google "better product".
To create more loyal and profitable relationships, first ask yourself “Would I enjoy being my own customer/client?”. You will look at your business differently by answering this question.
Then I always ask my clients “What can you GUARANTEE?”
The most important element in starting a great customer relationship is to eliminate for them the element of perceived risk in working with you or buying your product. EVERY business can do this in one form or another.
I’m always amazed when companies like Zappos get so much press for their guarantee, because it means so many others have still not figured out the value of doing this.
My sense is that managers are more afraid of how it might negatively impact their bottom line, rather than thinking more about how it might motivate their employees to innovate, improve service and be creative in retaining their best customers!
The real secret? It massively simplifies the management structure and business processes within your company, but that is a big topic to cover another day.