Loyalty is our Big-Picture Goal
Common sense tell us that loyalty is important. Loyal customers buy more, don't decide strictly on price, and are the only avenue to long-term growth and profitability.
When we lose a loyal client, it is a disaster.
The TSMarketer begins with a focus on earning new clients. But the System supports a steady push toward loyalty, using the same principles of targeted touches... Right Message to the Right Person at the Right Time.
The Experts Weigh In...
Fred Reichheld on Customer Loyalty:
- ...on average American businesses spend six times more attracting new customers than on keeping them, yet customer loyalty is worth, on average, ten times the price of a one-time sale.
- Reducing customer defections five percent boosts profits 25-85 percent.
- Research studies tell us that a business is twice as likely to sell to a lost customer as to a brand new customer.
- A study by Marketing Metrics tell us that the probability of selling something to a prospect is about 5-20 percent while the probability of selling something to an existing customer is 60-70 percent."
Jeffrey Gitomer in Customer Satisfaction is Worthless / Customer Loyalty is Priceless.
- "Loyalty doesn't disappear all at once. It erodes day by day. The same way you can continue to build it day by day."
- "The value of a customer is 20 times his annual sales volume."
- "A re-order sale is 100 times easier to get than a sale from an ad, or a sale from a cold call. What strategy do you have in place to stay in front of your customer in times of "non-sale" as much as you do in times of "sale."