A few weeks ago at PPAI Expo in Las Vegas, I heard quite a few people share their concern about how client loyalty doesn’t seem to exist the way it used to in the “good old days.” In general, the blame for this erosion in loyalty is generally split between the internet and millennials.
Here are three cold and hard truths:
1. The internet isn’t going away – it’s up to brands to adapt
2. Millennials aren’t any less loyal than previous generations – they simply buy differently and have high expectations for the purchasing experience
3. Clients don’t leave because they aren’t loyal; clients leave because they have not experienced enough value to justify anything more than a simple transactional relationship
Loyalty in business implies that a client will stick with a brand through thick and thin, regardless of the lack of a consistent experience. You wouldn’t be loyal to a company that had inventory issues, wasn’t responsive to your needs, made you fill out paperwork every time you wanted to make a purchase, or gave you a hassle when something on their end went wrong. Your clients are no different and it’s foolish to expect them to be.
In other words, it’s not about loyalty; it's about whether a brand delivers on the commitments (creativity, responsiveness, delivery, packaging, cost-effectiveness, etc.) that clients have been promised.
Business loyalty simply doesn’t exist in a competitive marketplace. There are simply too many other options for clients to find the experiences they are seeking. If your brand isn’t delivering the values they seek from you – the ones you have promised – they will find a brand that does.
When you feel that clients are not as faithful as you would like, it’s time to take a hard look at how they are experiencing your brand. Is every single touch point (sales, marketing, billing, customer service, etc.) delivering on the promises of your brand? If not, changes need to made or clients will leave.
In every transaction, businesses must consistently deliver on the promises of their brand. Clients will forgive the occasional misstep of companies that continually provide value that are congruent with their brand promise, giving a false perception of loyalty. However, when an organization consistently fails to honor the promise of the brand, that illusion of loyalty will disappear faster than the career of a mediocre Las Vegas street magician.
Bill is president of PromoCorner, the leading digital marketing service provider to the promotional products industry, and has over 17 years working in executive leadership positions at leading promotional products distributorships. A featured speaker at numerous industry events, a serial creator of content marketing, president of the Promotional Products Association of the Mid-South (PPAMS), vice president of the Regional Association Council (RAC) board, and PromoKitchen chef, Bill has extensive experience coaching sales teams, creating successful marketing campaigns, and developing branding that resonates with a target audience. He can be reached at bill@PromoCorner.com.