It’s true. Everyone wants a piece of your customers. And, in this economy, expect the promotions, offers and deals to explode.
In this Drivercam riff, I focus on how customer loyalty – True Loyalty – is probably the most valuable asset you have. But don’t mistake loyalty to the deal for loyalty to you.
Enjoy the video … it’s only two minutes. (Yes, the traffic was rotten.)
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In addition to writing, I spend most of my work time helping companies unleash their potential by creating better connections with their customers. This happens through my speaking events and through Yastrow & Company consulting engagements, where my team and I help companies figure out who they intend to be in the future, and then engage the entire company in creating that future through strong "We" customer relationships.
Before starting Yastrow & Company in the mid-90s I was vice-president of resort marketing for Hyatt Hotels. My experiences in the hotel business showed me clearly that most marketing doesn’t happen in the marketing department. Customers are paying attention to all interactions with a company, not just the promises made in traditional "marketing communications."
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Nice content Steve, but GEEEEZE–do it in the office and keep your eyes on the road! You’re scaring me.
Thanks for your concern, Brent! No worries about me – at least the camera wasn’t in the back seat!
Hey Steve (or anyone)– can you give me an example of a company that has inspired True Loyalty in their customers?
Amanda – I’ve seen it a lot with professional services – attorneys, financial advisors, accountants, etc. The nature of their work lends itself to partnership and We relationships, where the client can easily see what’s in it for themselves.
I’ve also seen it with local, one-location retailers and restaurants. For example, I was in a guitar store today, The Music Gallery, that I’ve shopped in since age 15 (34 years!). The owner, Frank Glionna opened the store when he was about 20, and I’ve been truly loyal for years. I’ve bought many things there, and have sent him many customers. But, I also feel Frank is loyal to me. I bought something last weekend (a wonderful toy that puts echo on my guitar) and I told him after trying it at a gig that I was having problems with it. He called me earlier today to see if it was working, and then gracefully took it back when I told him it wasn’t right for me. Our scope is the long-term of our relationship, not an individual transaction.
As companies get bigger everything gets harder – Brand Harmony, relationship building, creating True Loyalty … we should all look to small businesses for ideas. They are more likely to “get it.”
[...] my video post yesterday I talked some more (…. ok, I’m a bit obsessed with this topic) about the [...]
True Loyalty – The new book! Great idea