- The “L” Word -

Healthy relationships lead to it and thrive on it—even demand it.  With the economic crisis the world is facing these days, it’s needed more than ever.  What is it?  I’ll give you a hint:  it begins with the letter “L” (It’s not what you think—get your mind out of the gutter).

Seriously, loyalty, as in customer loyalty, has become the sine qua non of good business in a changing world.  So how exactly do you create and maintain it?  Here are a few guidelines.

Do Your Homework

Market analysts have an interesting acronym; it’s called the SWOT (which stands for Strengths-Weaknesses-Opportunities-Threats).  You should bring out the SWOT team and diligently study the industry you’re in.  Arm yourself with the necessary knowledge and plan accordingly.

Don’t just study the market, though—learn from your clients as well.  In another article, I mentioned the importance of building rapport with your customers.  Be their friend.  Learn what their goals, values, fears, and dreams.

Once you find out what makes your customers tick, you can then bring your products or services to bear and meet your clients’ needs.  That brings us to the next step.

The Pretty Package

Once you have the knowledge part down pat, it’s time to present your products or services to your customers.  Your clients need to know what you know—namely, that you are in the best position to meet their needs.

As any top salesperson would say, “Demonstrate value” to the customer.  One of the best ways you can do this is to have another customer (preferably one whom your target client knows and trusts) explain how you helped solve that customer’s problems with your products or services.  Few things can be more persuasive than the testimony of a satisfied fellow customer.

“Always Be Closing”

Actor Alec Baldwin emphasized this point in the old movie Glengary Glen Ross:  when you have your client’s attention and you’ve generated interest, remember to close the deal!

Pay attention to subtle signals, such as body language, positive statements and customer questions geared toward availability and delivery.  Better yet, pull out your order pad as you answer the questions!

Finally, don’t forget the “F” word:  Follow-up.  Keep a record of your customers’ “vital statistics” handy and refer to it from time to time.  If you notice any important dates in your clients’ lives (birthdays, for example), it doesn’t take much time to send them a warm greeting.

At the end of the day, it’s trust that matters.  No relationship—business or otherwise—can really be successful without that all-important ingredient.

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