| Summary: | Annotation Discovering and utilizing specific activities that will make your customers buy again and again.
Annotation Loyal customers are the most important asset of any company--more important than land, patents, equipment, or buildings. While finding new customers is often expensive, time-consuming, and ultimately unprofitable, retaining old customers is surprisingly easy and "highly profitable. Companies with a loyal customer base enjoy greater profitability in good economic times and can depend on their loyal customers to help them survive difficult ones. Many businesses display banners proclaiming "Build Customer Loyalty!" but offer no training or tools to accomplish this mission. It is the moral equivalent of an athletic coach cupping his hands around his mouth and yelling at his players, "Score more point!" Why Customers Come Back is not about slogans, banners, or promotions. It is about discovering and utilizing specific activities that will make your customers buy again and again ... and tell the world why everyone "else should buy from you too! It isn't until a customer buys from you a second, third, or fourth time, that you actually see any profit. So learning how to retain customers is far more important and profitable than chasing new ones. Even a seemingly negligible increase in repeat business--just five percent--produces a whopping 60 percent increase in profits. What customers want today may fall out of favor tomorrow. American business is a fickle master. Technology, the Internet, and overnight delivery to anywhere in the country have made every business global--mom-and-pop corner stores must now compete with businesses thousands of miles away. Customer loyalty levels the playing field. It is the ultimate competitive advantage. The practical advice in Why Customers Come Back is based onthe "real buying habits of "real customers. The five principles to follow are not brain surgery. Business people, entrepreneurs, corporate leaders, and front-line employees can understand, embrace, and implement them ... right.
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