Your Customers Aren’t Yours

Advancements in technology means there will always be new and improved products and services. Change is always constant. If there wasn’t change, we would still be using horses and carts as a means to transportation. This is why Fred Reichheld, from Bain claims that your customers aren’t necessarily yours. Businesses are being challenged and put out by newer and more advanced ways of dealing with a service or product. Therefore, customer loyalty is becoming increasingly important. Getting to know your customers through their feedback and open communication will teach you ways that you can earn loyalty from them. That way, you avoid potential detractors from planting the seed of negativity which will in turn spread among the people they know, the internet and demoralise your employees. When inevitable change occurs (such as improved technology etc), prepare yourself by getting know your customers because as mentioned earlier, your customers aren’t yours.

Read Reichheld’s thoughts here.