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Customer Loyalty and the Price of Neglect

Customers are emotional people. They will display brand loyalty to a fault but, their faith in that brand can be shattered by a perceived betrayal. Anyone who remembers New Coke™ and Coca-Cola’s™ rebound in the market back in the 80’s can testify the importance of a customer base who trusts where they buy.

The relationship businesses have with their customers is, in many ways, similar to a personal relationship. It is a framework based on trust. By being truthful, reliable, and have genuine care for their client base, a business creates loyal customers. The majority of income comes from repeat customers and, a business cannot afford to isolate itself from its customer base. Consumers will pay more for better service and knowing where they frequent cares about them as an individual.

Servers who know the regulars’ usual order, café’s with reward cards for cups of free coffee after purchasing five or ten will keep customers satisfied and returning. Business owners pay more by pushing a larger sale on a one-time customer than by giving a little to those who return time and time again.

By: Flory Frank Toto IV