Some new research out of the Harvard Business School has found that only a 5% increase in customer loyalty can lead to 40-90% increases in the lifetime value of the customer relationship.
Whether for a product or service, the loyalty a client is willing to give you is built through trust, presence and branding.
Action – Build trust by sticking to your commitments and deliverables.
Build presence through self-care and self-management.
And build brand through consistency and strength of purpose.
Make sure you reward client loyalty with discounts, bundled packages or customer-only services. Become a referral or information source and always ALWAYS remain true to the relationship you have with your client.
Not only is this the ‘right’ way to do things, it is the only way to create a successful business that withstands anything the market can throw at it.