When you love your customers, the money will follow.
By putting your customer first, you will dramatically increase the "lifetime value" of that customer – the total amount that person will spend with you over their life as your customer When you nurture your relationship with your customers properly, they will shop with you more often, spend more each time they shop, stay with your company more years, and send their family, friends, and colleagues to your store.
I promised to tell you about one small business owner who made "The Big Switch". It was a personal experience – the moment when "The Big Switch" strategy became embedded in his brain.
He was working on the sales floor of his store, helping a grandmother pick out some gifts for her five grandchildren. Always one to do a little market research when the opportunity arose, he asked her how often she would be shopping for gifts for her grandchildren. He was asking about the number of times a year – birthdays, holidays etc. Her answer stopped him dead in his tracks: "FOREVER". Of course! She would indeed be shopping for gifts for her grand-kids forever.
The owner’s mental calculator started whirring:
– She had 5 grandchildren
– She would probably make about 3 purchases a year per child.
– The average sale was about $50.
– That was $750 a year – and over the next 15 years her purchases would be $12,000!
That’s when the owner realized he had to do everything in his power to "love" this customer and keep her coming back to his store. Hi goal? A customer for life.
So what is your challenge? Make "The Big Switch". Fall out of love with your product, service or store and fall in love with your customers. Make it your goal to create customers for life. We’re all in business to make money, and the surest way to make money is to create those customers for live.
Remember – when you love your customers – the money will follow.