Trends in Customer Loyalty

Creating customer loyalty is a greater challenge than it used to be.  In the past, people would shop at their local market or frequent shops where they knew the owner personally.  Current trends are vastly different though, as people travel clear across town to shop competing stores.  I suppose the economy is the main culprit for this trend.  Businesses have been forced to scale back services in order to reduce costs.  Remember when most gas stations had full-service pumps?  They are rare here in California now, but it’s a perfect example of how businesses cut back to reduce costs, and consumers don’t seem to mind, as the economy has put a crunch on most wallets and the savings benefit both parties.  Secondary to the economy is the rising competition from the internet.  The internet lets consumers shop around for the biggest bargain, and if they can find reasonable shipping rates, they don’t even have to step out of their pajamas, let alone their house!

Considering the trends, how do customers attract and keep loyal customers?   Most large and medium sized businesses have created rewards cards, but small businesses have a similar tool in their arsenal; the punch card.  The reward card and the punch card reward customers for repeated visits.  Another option is to offer coupons for a return visit, but great customer service is still an attractant to loyal customers.  They just don’t rely on it like they used to, but should an issue arise, great customer service, in a prompt and courteous fashion is key.  Disloyalty is almost guaranteed should a customer have a bad experience which was handled poorly.

 

Strategic Nationwide Funding is proud of our loyalty record; as many as 80% of our customers return for a second merchant cash advance after completing the terms of the first.  We believe it’s due to our great customer service, and our up front approach with our customers.  We want our customer to understand the details of our merchant cash advance, others are not straight forward with the terms, and quickly lose repeat business.  Find out about a merchant cash advance on our website at http://snffunding.com/faq.php or call one of our representatives today at 1-866-972-8885