Customer Loyalty Critical in Down Economy
Posted on June 27, 2009 by Sallie Burnett
[Business Times, July 7, 2009]
Focusing on core customers can make a critical difference both now and in the long term
A down economy can wreak havoc on customer relationships. Deep cost-cutting compromises service. And to make up for lost revenues, companies sometimes add new charges and fees, which make customers feel they are being gouged. And the negative effects of lost customer trust can be deep and long-lasting.
Gaining their faith: The advantages of customer loyalty are more pronounced in a downturn. Loyal customers cost less to serve and they typically concentrate more spending with companies they trust
On the other hand, the advantages of customer loyalty are more pronounced in a downturn.
Customer Loyalty Consultant | Customer Retention | Global Keynote Speaker | Social Media Marketing Strategist at Customer Insight Group
Sallie Burnett is the founder and CEO of Customer Insight Group, a strategic marketing firm that leads the way in the evolution of how companies engage their customers and earn their long-term loyalty. Sallie has more than two decades of strategic consulting experience helping some of the world’s leading companies engage, keep, and grow more profitable customer relationships.
Filed under: Loyalty Marketing