How to CLIMB Step 5: Increased Customer Loyalty

Now that Steps One through Four have been completed, what comes next?

Continue the CLIMB and Increase Customer Loyalty

All businesses are in pursuit of customer loyalty. Loyalty breeds promotion and brand awareness. The definition of customer loyalty will vary depending on your business model; however, for our clients increased customer loyalty = increased profits.

Share of Wallet

Businesses benchmark their success by increased revenue and profits. We help maximize our clients’ share of wallet. Throughout our CLIMB Blog Series we have highlighted each step of the 360° Approach to achieve more Loyalty. In order to strategize on where to go from here, we must review how we got to where we are first.

1. Customer Research

• Talk with your customers to determine their expectations, needs, wants and what is necessary to make them loyal.

2. Operational Standards

• Now that you know – make it happen by shaping your operational standards around their must-haves.

3. Behavioral Measurement

• Employees are your brand ambassadors who are on the front-line of driving and increasing customer loyalty. Are they performing based on operational standards?
• Measure the gap between your operational standards and what is actually happening during employee/customer interaction and determine how it is affecting loyalty.
• Tweak operational standards, if necessary.

4. Validation

• Is it working? Give your customers an open forum to provide feedback and allow them to give you credit for your hard work.

Are We There Yet?

In this step, financials are brought into the mix to help us discern if it all worked to improving your topline or bottom line. Various forms of analysis are performed to make sure that we hit the right mark with your customers and that they are standing up in applause by giving you more of their share of wallet.

Although this is the “final” step in our CLIMB Methodology – it doesn’t stop here. Today’s customer is armed with more options and information than ever before. Personally, I have never seen preferences change so rapidly. It is imperative to stay ahead to ensure your customers’ perceptions are that your product or service is the leader in the market. Increasing loyalty for longevity is a marathon, not a sprint. It requires consistent reevaluation and measuring. Happy CLIMB-ing!