4 Reasons Customer Loyalty Is Vital To YourBusiness

Have you ever wondered why some businesses may set up shop inareas that might not be very conducive to business and do quitewell, while others are placed at major thoroughfares where walkby and drive by traffic are all but guaranteed, yet within sixmonths they fold and the place goes up for lease or sale? Thetruth of the matter is that success is not always determined byyour location – although it does play a vital role – but moreoften than not it is dictated by customer loyalty.

Here are four reasons customer loyalty is vital to yourbusiness:

1. First and foremost is the fact that a loyal customer is arepeat customer. This person will know about your businesspractices, about what to expect from your goods or service, theadvantages and the disadvantages, and she or he will dobusiness with you in such a way that it is a mutuallysatisfying transaction.

2. As you establish a relationship with your customer, you arealso establishing a relationship with the customer’s family.Thus, it is not uncommon to have the wife bring in the drycleaning for the family and turns her mother, mother in law,aunt, and best girlfriend on to your business. As the husbandis sent one day to pick up the dry cleaning he becomes familiarwith the business, and he will tell his brother, businessassociates, and others who are looking for a drycleaner. Thus,you are suddenly becoming a commodity which is being sharedwith others.

3. While family referrals are great, business referrals areeven better. If you are a dry cleaner, you will want the dressmaker down the street to recommend your services to itscustomers. Similarly, if there is bridal shop with which youmay have some professional ties, then these business referralsare simply priceless! Customer loyalties – when you have otherbusiness owners or clerks shopping at your store or utilizingyour service – are quite often the gateway to a great number ofnew walk in customers.

4. Yet the fourth and perhaps most important reasons whycustomer loyalty is vital to your business rests in the factthat many major purchases are not made during the initialcontact. For example, if you are a furniture store, you mighthave someone come in looking for a computer desk. While thesemay be expensive – depending on the materials – by and largethese items are small fish. Yet if the consumer is satisfiedwith the product, the delivery, the setup and also the price,the odds are good that she or he will be back when it is timeto furnish the nursery, buy that new wall unit, or acquire thatbedroom set that was saved up for!

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