The Magic Beanstalk of Customer Loyalty - 1

At any point in the profitability of business, the key to customer retention is to get clients to climb the Magic Beanstalk of Customer Loyalty (MBCL). Customer Retention and Customer Loyalty are closely related, in the journey from Satisfied Customer to Raving Fan.

Most business persons and management practitioners will need no further explanation for these. Where they do not have a single view is when they talk about the customer. Someone who  bought from you once is not a customer.

What we don't realize in this MBCL is that a customer will not move up the MBCL all by himself. It may happen at times, that they move up on their own but it is more an exception than a rule. They need to be given a reason to do so. You will have to do that.

Even though this exercise may give you some success, remember that not all customers will climb the magic beanstalk of loyalty, to reach the same level. All cannot be Raving Fans. What is really important is to keep in regular touch with them, engage them. to remain a loyal customer. 

So, even if a certain number of customers don’t climb the MBCL right till the top, what is important that you are giving them the right reasons to climb. There are a good number of tools & techniques to encourage your customers to climb the MBCL. Some even cost little money. For example :

• Social Media
• eMails
• Regular Mail
• Mobile Phone 
• Referrals
• Guerrilla Marketing
• Content Marketing
• Virtual Summits
• Face-to-Face or 1-to-1 interaction

In the next post, we shall discuss some of these in more detail. Your feedback, comments, suggestion will be welcomed at drsunilpevekar@gmail.com

#drsunilpevekar          #customer loyalty          #customer retention