I was reviewing some notes and I found something referring back to a April 2011 Success Magazine article about customer loyalty by Erin Casey (pg 26 if you are looking).
In rereading the article, I remembered why I made the note, I completely disagreed with one statement: “Customer loyalty isn’t dead, at the very least it is declining”. This is not true in the world I interact with.
I admit that there is a percentage of the world that make decisions only on price, but it is so small I do not feel the need to discuss it.
People are no longer loyal to brands that suck and abuse their customers since there are better options. For instance, a few years ago I was considering a loan with Bank of America. I called them to see how much I could get, so they ran my credit. During the process I specifically stated I did not want the loan and I was only wondering how much I could get so don’t sign me up. A few days later I received a check in the mail from Bank of America for the load I told them I did not want. I called them and cancelled it. Now that loan shows up on my credit report and I cannot get it removed because it was done verbally over the phone and not in writing. By the way, this was before I was fully on board with Dave Ramsey.
Guess what, I am no longer loyal to Bank of America since they hired a person that was either dishonest or stupid (which I would not want to do business with them in either case).
If a company is willing to care about the relationships they have with their customers then the customer will be loyal.
I was going to share some examples here, but the post was getting super (like how I worked that in there) long, so I am going to make it a series where I can share good and bad experiences that solidify or remove customer loyalty.
What bad experiences have you had that reduced your loyalty to a company?