November 17th, 2015
To Keep Clients, Be Their Best Resource
When a business has the resources to offer essential solutions for their clients’ problems, they earn the loyalty of their client. When a business fails to be the best resource for their client’s solutions, they must be prepared to not only lose revenue to more resourceful competitors, but to also lose the loyalty of their customer.
A manufacturer or supplier may become indispensable to their dealer network because they are the best resource for marketing, lead generation, custom product design, private labeling, service after the sale, or some other unique resource their dealers deem to be crucial and the linchpin to loyalty.
An installation specialist can become essential to property owners by offering the best value, 24/7 service, certified installation, exemplary knowledge and ability to improve energy usage, value and lifestyle. The reward is loyalty.
Although a business can’t rely on product offerings alone to maintain loyalty, the vital resource many clients seek is a superlative product selection. The best total resource for a client might be the ability to select from “good”, “better” and “best” product choices. That diverse model lineup appeals to a greater variety of individual buyers. Failing to provide a client with all three offerings opens the door for another to be the resource for one of those offerings. It doesn’t matter which of the solutions we fail to offer – good, better or best. When we give up the sale at any level the erosion of loyalty begins.
Once your client begins purchasing from another, not only has that sale been lost, but future sales to that client at every purchasing level are in jeopardy. Soon enough your client may begin to buy all three “good, better or best” levels of product from another. This may proceed until you have lost your client altogether… all because the alternative company is more resourceful than you!
You may say “we only offer the best” or “we specialize in offering the least expensive,” but when you agree to give away some of your client’s purchases to another company, be prepared for that company to take all of their purchases elsewhere.
The bottom line is, when you are the best resource for your client, they will stay loyal. When you are not the best resource, you have forced your client to look elsewhere for someone who does have the resources they value.
Not to beat a dead horse, but – once again – if that happens to you, it is time to go back to the beginning…
1. Be curious about your client…
2. Ask your client good questions…
3. Listen to your clients’ answers…
4. Be creative about custom solutions for your client…
5. Be your clients’ best resource
6. Earn their loyalty.
As long as a business is resourceful enough to provide the best solutions for a client, that client will depend upon that business to provide solutions. And that business has earned that client’s continued loyalty.
If not, beware… Only the most resourceful survive in the business jungle!
• There are those whose job exists to provide the resources your client needs. They do not waste any opportunity to let your client know they have the ability to provide the resources they seek.
• When you allow another to be more resourceful to your client and infiltrate your existing client’s purchases, it may be time to kiss that client goodbye, try to find a new customer and begin the process of earning the loyalty of that new customer…
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