Customer Service Training Material
The evolution of customer loyalty
In a recent peice on Forbes.com, Mike Linton asks Is Customer Loyalty Dead?
He goes on to disucss the way customer loyatly has shifted with the economic landscape and how company’s must work harder than ever to retain their customers.
In addition to fundamentals of a good product or service, reliability and value, nowadays, customers must be convinced of value via consistent and continual demonstrations.
Ways to adapt to the modern world of loyalty
A: Accpet the change. Acknowledge that more effort is required to secure customer relationships and nowadays the most seemingly minisucle X factor can cause a customer to jump ship and shop with the competition.
B. Integrate loyalty thinking across the consumer experience. Linton disucsses the importance of ensuring all channels of customer communication are aligned in reinforcing your value proposition. Any customer touch-point is critical.
C. The old segments don’t work. You must further divide up your pool of customers in order to categorize them effectivley. Constnatly tracking market and consumer behavior in relation to your company and industry is critical. The more data the better.
D. Ask “why customers choose your business.” Viewing your business through the customers’ eyes has never been more fundamental to success.
Bottom line: There’s a paradigm shift in consumer behavior that has replaced loyalty with absolute value. At the end of the day, if all facets of your business don’t extend the upmost value, the customer will lose total desire to stay loyal and qucikly will investigate how the competition stacks up.
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