Customer Loyalty – Meaning and its Important Concepts
April 3, 2025
Every supplier wants to create and retain a loyal customer who engages in continued profitable business with him. Customer Loyalty is the measure of success of the supplier in retaining a long term relationship with the customer. Thus customer loyalty is when a supplier receives the ultimate reward of his efforts in interacting with its…
Customer modeling is the process of predicting and forecasting behavioral aspects of customers’ future perspectives. The process includes identification of marketing and campaigning targets and optimizing predictive analysis. Following are the broadly discussed aspects of customer modeling: Response modeling – Modeling enhances the organization’s knowledge on each individual customer and identify if the customers under…
For a developing business it is very important to understand who are the best customers, how to find more customers like these and where to find. Customer profiling is the best strategy to accomplish this. It helps to find valuable new customers, enhance the profitability by retaining existing customers and also identify low valued customers…
The responses can be provided through any of the following media:
Hence it is important that the supplier should pay full attention towards the customer. If in between he receives any call or indulges himself in other works, then it creates an indication to the customer that he is unwanted or the supplier does not want to attend him efficiently. Such a thing creates negative or wrong feelings in customer’s mindset towards the supplier and acts as a staggering block in future business relationship.
It is also seen that most of the senior members of the organization does not find any time to interact with the customers face to face which is not the correct approach as customers are the key revenue generators of business and attention should always be given to them to understand their needs and make them satisfied.
The way the suppliers present themselves during a face to face conversation or interaction reflects their sincerity and commitment to the customers. In case they fail to provide such interaction, they may have to pay a heavy price both in short as well in long run.
Sometimes the supplier does not want to entertain the calls from aggressive and irritating types of customers. This could also happen when the supplier has any sort of commitment with the customer which he is not fulfilling due to some unrealistic reasons. By doing this the situation does not tend to solve but aggravates in course time. The key is to talk to them and explain the actual situation and reasons by taking them into confidence. By doing this the customer will always think that supplier is promptly attending his calls and is concerned about him.
It is also important to interpret the purpose of the caller, what the customer is actually asking for and then after patiently listening and analyzing the facts a correct and satisfied response must be provided. If the details asked by the customer over a call are not answerable instantly, then the call can be hung up by telling that details will be provided to him as soon as possible. Thereafter it is necessary to take those points of customer’s queries into consideration and analyze those to come up with exact details. These details should be provided to him by calling him again. Efficient telephonic interaction always pays off when responses are given effectively.
The advantage of written communication over face to face and telephonic communication is that it is least misinterpreted as it is saved and can be read many times. But the disadvantage is that it lacks in total communication. Hence it is always important to send the written response in details so that any of the relevant point is not omitted in the response.
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