For Better Customer Loyalty, Take a Look at This

Say you are a company owner, you are the one running the company, you have got employees that are happy to work for you, you have got customers that love your product and are loyal to it, you genuinely care about your customers and provide them with the support they need, your company serves a purpose and has a motive. Congrats, your company is doing great, keep doing what you are doing.

But also, let’s imagine that you are a company owner, you are leading it, your employees seem to look miserable working for you, you have customers that purchase your product but could go to your competitor in a heartbeat, you only care about the company’s image, you do not, your company does not really serve any purpose…. Congrats, your company is shutting down soon, unless you do something about it.

Recently, countless businesses have emerged, creating various job opportunities for thousands of people. However, many of these companies end up being a complete flop or go bankrupt, and the reasons vary. But let’s focus on two of the most common factors that lead to the failure of many, if not most, companies. Lack of purpose or reason behind opening a company, and lack of proper communication of the company’s purpose. If you can answer the “why are you doing what you are doing?” then you are on the right track.

If you find yourself unclear about the answer, then maybe you should take a step back and find your company’s purpose, what it stands for, and no… your company’s purpose should not be about financial gain. A purpose is timeless.

Whether they are aware of it or not, brilliant leaders communicate in an almost identical way, and they do it by following a pattern that is referred to as ‘The Golden Circle’, a concept introduced by Simon Sinek in one his most influential books of all time “Start with Why”.

Why, How, and What

What: There is not a company in the world that does not know what they do.

How: a few companies know how they do what they do, they know how they are different.

Why: Only a­­­­­­ handful of companies have a clear understanding of why they do what they do.

We understand. You care about you company, you have put so much effort into keeping it up and running, sweat, tears, and money. But maybe you did not put a lot of thought into its purpose, its ‘why’, what your company serves, and purpose is everything. The company’s values and beliefs must be identified and communicated. Those who stay loyal to a company or a brand, they stay loyal to them because they believe in what the company believes in, they share the same beliefs, they get a sense of belonging from following staying loyal to that company. This is achieved by communicating those beliefs and purpose to the customers, and those who share the same beliefs and think the same way will find their way to you and WILL be loyal to you. It is all about having a purpose and communicating it the right way.

Communication is key, it is key to motivate and share your ideologies and beliefs with people, it is key to keeping customers loyal to your brand and feel connected to it. Communicate your ‘why’, market it, open up and you will find people who think the same way that you do.

Providing examples on communicating your purpose

Example A: A few members of Young Entrepreneur Council, A Fee-based organization comprised of the world's most successful entrepreneurs 45 and younger, shared some ways on retaining customer loyalty. During the time covid-19 was at its peak, they found boxes of N95 masks, and they went ahead and sent them to a hospital in New York. They wrote about it in their newsletters, knowing well it will be read by their newsletter-subscribers. This acted as a reminder to their customers that YEC still cares about their community, they also wanted their customers to be proud for being associated with their company.

YEC also included homeschooling tips in their newsletter, because they wanted to reinforce the notion that their company does the right thing, not just doing things right. Eventually, when the pandemic comes to an end, you want to make sure that your customers know that they can rely on you at any time.

Example B: check on your customers outside of business. You could reach out to your customers to ask how you may be of assistance to them at a difficult time. Right now, it's not just about business; it's about truly reaching out to others and expressing compassion. So maybe send them a care package? or, within reasonable limits, make adjustments to their business contract. Your main goal should be wanting your clients to be satisfied and glad that they chose you over any other competitor, also making sure that their mental and physical health comes first.

These are some examples on how you can how you can reinforce your company’s purpose and communicate in different ways. Starting with ‘Why’ is only the first step. Before a person or company gains the right or ability to motivate, there is still lot to be done. Each of the elements of The Golden Circle must be balanced and in the proper order for it to work

Make sure you get this emphasis right from the start, because if you have a clear understanding of your purpose's essence, as well as how it's seen both from inside and outside, it'll be significantly easier to build on it and produce a narrative that everyone can buy into. From there, it's a natural progression for your customerss to begin living your beliefs rather than having your culture shoved from the top down. This gives your brand's meaning more authenticity, which increases its impact and encourages people to pay attention and engage with your company on a deeper level.