February 14, 2014
We hear a great deal about layoffs and downsizing today. Some can’t be prevented in today’s economy. However, other businesses are laying off workers because their customers are going to the competition. Customer expectations are higher than ever. They expect top-notch service or they will take their business to your company’s competitors. Think it’s not your problem? Think again!
Your job security depends on how valuable you are to your customers. The better you serve them–the better you protect your career. If you take your job for granted, you take your customers for granted, and that’s a risky way to operate if you care about your future. Expect your employer to expect more from you. The more you allow your service to go soft, the greater the odds that you could end up in a downsizing statistic.
So what if customer loyalty boosts the company’s profits. I’ll never see the money. Why should I care if the customers are loyal?
Good question, and one I often hear from employees, particularly those who are not in management positions. So what is in it for you to go the extra mile and build customer loyalty? Lots!
What do Land’s End, Northwestern Mutual, Starbucks, Ritz-Carlton, Federal Express, Disney, and Nordstrom all have in common? They are all loyalty-focused companies–and they are all thriving. Customer-focused employees help these companies outperform their competitors by building strong customer relationships and loyalty. Loyal customers purchase more products and refer new customers. This will make your company more financially stable. Here’s what that means for you:
Job Stability
Nearly every time we pick up a newspaper, we read about another company laying off thousands of employees. Certainly there are many factors that cause businesses to fail, but strong customer loyalty can help a business stay afloat even during economic downturns. Higher customer retention means more profits and a stable work environment.
Better benefit packages
When a business loses customers, it loses revenue. Period. When it loses revenue, often the first thing to go are benefits, and after that, employees. For example, Northwestern Mutual is going strong, hiring new employees, and offering terrific benefit packages for its employees who are very committed to building customer loyalty. These employees understand that they play a critical role in the customer service chain and the success of the company.
Career advancement opportunities
A stable company usually offers you the opportunity to climb the ladder and advance your career without leaving. There are more training opportunities available for you to develop new skills and learn about different facets of the business. No matter how large or small a company is, when it is loyalty-focused, it is generally recognized as a quality place to work. The number one question asked (in an envious tone) of new employees in the companies that I listed above is, “Wow! How were you able to get a job there?”
No matter how large or small a business is, customer loyalty is the responsibility of every employee in the organization. It is earned by people just like you who are delivering consistently exceptional service and building positive relationships, one customer at a time.