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Loyalty can boost profitability

Rachel Wheeler Archive
A new report has revealed that businesses can improve profitability by giving retail customer loyalty a boost.

The study by FMI interviewed business executives to discuss what it takes to cement existing client relationships and attract new customers in the current weak economic climate.

It suggested that in order to improve retail customer loyalty, organizations need to go that extra mile by adapting niche capabilities to a client's specific needs, while adding value at the same time.

Companies will also benefit from evaluating and rating potential clients in terms of suitability for the firm's strengths, and prioritize time and resources accordingly.

"Having demonstrated your value-added service to a client, you must give them an opportunity to demonstrate their loyalty to, and association with, your company.
Engaged customers will want to share their feedback and participate in the evolution of your company," the report stated.

Furthermore, Claudia Hathway, editor of Call Centre Focus, recently claimed that call centers will do no damage to customer loyalty as long as they are fit for purpose.

Posted by Rachel Wheeler