Retain your loyal customers for life

When loyal customers’ friends ask who they use for what you offer, they not only mention your name but tell them about something special you did for them.

When customers need to call you, they have your number in their cell phones, on refrigerator magnets or type your company’s name in their search box rather than a generic search for your types of business.

They know, like and trust you to take care of their needs and wants.

You and I know how important customer loyalty is but here’s the good news: 69% of our competitors don’t know loyalty is critical or how to gain and retain customers.

Here are 5 ways we have built loyalty:

1. We know our most loyal customers, what they want and need and how often.

2. We are selective. We go after prospects like our loyal customers. Their needs and wants are similar and we know how to make them happy.

3. We constantly look for ways we can help them in addition to the products or services they buy from us.

4. We refer business to them.

5. We touch them often when we have ideas or offers of value to them.

We share such field-tested strategies in our CD “Why Advertising Fails & What You Can Do About It.” For a free copy, email JerryBellune@yahoo.com

Next: Your customers’ best friend.

Avoid becoming a public disgrace

Every business owner, manager, entrepreneur or politician should learn a critical lesson from NY Gov. Andrew Cuomo’s cover-up of his fatal nursing home blunder.

By sending 9,000 covid-infected patients into NY nursing homes he cost up to 13,000 lives – then tried to cover it up.

Tragically, hospital beds were available but the governor ignored that and then published a book about his heroic leadership in the pandemic. Although he has been forced to admit what he did, the governor has not yet apologized to the families.

It may remind you of the Food Lion cover up after an investigative team showed a video of their butchers carelessly handling meat that could make customers sick.

When the expose was shown on national TV, Food Lion could have said, “We are as disturbed by this as we know our customers are. We are investigating and will get to the bottom of this. We sincerely apologize to all our loyal customers and the public.”

Food Lion didn’t – and it has taken years to recover their reputation.

In contrast, when someone poisoned bottles of Tylenol, Johnson & Johnson spent millions of dollars recalling every bottle of Tylenol and destroyed them. They apologized for something they did not do but protected people no matter what it cost.

Make this a mantra for you and your people: “Honesty is the best policy.”

When you or they mess up – and you will – apologize and make it right.

We share such field-tested strategies in “Uncover Your Inner Sales Genius.” For a free e-copy, go to JerryBellune.com.

Next: Keep loyal customers for life

Copyright 2021, The Bellune Co., Inc.

Your abominable No-Man

When it comes big bucks CEOs, you could not pick a pair more different than Angelo Mozilo and Warren Buffett.

Angelo founded Countrywide Financial, a giant mortgage lender during the last big real estate bubble. His 2nd in command and heir apparent Stan Kurland tried to caution him about over-extending the company’s credit. Angelo ignored him.

Stan left the company with $25 million and formed a rival real estate lender.

You may remember that Countrywide went bust because its CEO would not listen.

His #2 man’s new company did not fail.

In contrast, Warren Buffett has built Berkshire Hathaway into a mega-billion dollar investment holding company.

Much of its success he attributes to his partner Charlie Munger. He calls Charlie his “Abominable No-Man.” Warren appreciates the good ideas Charlie suggests – and the bad ideas he shoots down.

A business owner we know attributes most of his company’s success to his wife and co-owner. He is a dreamer and risk taker. His wife is highly creative but she is a tough-minded realist, too.

She is his Abominable No-Woman.

If you don’t have someone like her, you had better find one. She can save you from your most foolish notions

We share such hard realities in our “Uncover Your Inner Sales Genius” e-book.

Next: Appeal to their emotions.

Copyright 2021, The Bellune Co., Inc.

How to attract your Ideal Customers

Knowing your Ideal Customer is critical to attracting and retaining them.

Our friend Bill Edmonds advises you to narrow your research to better understanding of your Ideal Customers:

  • Demographics. This describes their age, education, income, work, where they live and who’s in their household.
  • Psychographics. Their lifestyle, buying habits, needs and wants. Do they like traveling? What entertainment do they enjoy? Their personal values? How they prefer to shop and in person or online?

With what you already know you might use surveys and focus groups to identify:

  • Their generation. Your Ideal Customers’ generation is more useful than a specific age. Gen X, Gen Y, Boomers, etc.
  • Stage in life. Entering college? Becoming parents or grandparents? Buying a house – up-sizing or down-sizing?
  • Interests. What activities do they enjoy? If they watch TV, which programs do they prefer? What books, magazines and newspapers do they read?

It helps to create an Ideal Customer persona that portrays their who and why. You can picture them considering your offers and making buying decisions. Call them Carl and Cathy Customer.

We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.”

For a $20 personally autographed copy, contact us at 803-359-7633.

Next: Retain Ideal Customers for life

Copyright 2021, The Bellune Co., Inc.