Today’s consumers have become savvier due to the fast pace of technological development and easier access to information, Their demands and expectations from products and services being offered have changed dramatically. The sheer volume and speed of information has resulted in the shortening of the attention span of the average consumer.
Consumers are now more highly connected with one another and even with competition. It is not uncommon these days to find shoppers comparing prices on their mobile devices in a mall.
Loyalty to brands has become more fickle than ever.
Clearly, technology and the internet have combined to put the power in the hands of the consumer.
To make things trickier, the level of competition in the market place has grown astronomically. Consumers are constantly bombarded by myriads of advertising, literally, by the second. The choices being presented are enormous and knowing what to choose has become more challenging. Therefore, the average consumer now relies more on the reviews and recommendation of fellow consumers than on advertizing campaigns.
The most potent marketing and advertizing channel is now the customer. His interaction with and exposure to numerous potential customers is huge and his ability to multiply sales are enormous.
It has therefore become imperative for entrepreneurs to have a paradigm shift in their approach at building customer loyalty.
The focus should be on nurturing a customer to loyalty from the first contact. This is in direct contrast to the traditional method in which customer loyalty is achieved after a sale has been consummated.
Every interaction with the customer should be with the aim of giving him an easy, satisfying and rewarding experience. It should be engaging and continuous.
The table below shows the relationship between the different teams in an organization and their roles in building customer loyalty.
| TEAM | HOW THEY SUPPORT CUSTOMERS |
|
Product Development
|
•Build products they love and value •Collect feedback
|
| Marketing
|
•Create engaging experiences
•Build a community around the brand •Reward customers for their loyalty
|
| Customer Service
|
•Answer questions and solve problems
•Report out larger issues and work to fix them
|
| Design
|
•Create beautiful experiences
•Make customer moments intuitive and full of delight
|
| Engineering
|
•Keep products stable and valuable
|
| Human Resources
|
•Hire customer-centric employees
|
| Executive
|
•Champion a customer-focused culture
|
| Sales
|
•Hear customer needs
•Partner with customers to solve for them
|
Source: A Marketer’s guide to Customer Loyalty
