build customer loyalty

How to Build Customer Loyalty Through Broken Products

By Kevin Cundiff

All businesses want loyal customers. But how does one build customer loyalty when consumers constantly have price, selection and convenience on their minds?

The answer is pretty simple. Treat your customer relationships like every other valuable relationship in your life. Want to gain trust and loyalty? You have to be there for them in good times, and in times of need.

What does that mean? Well, let’s say you’ve gotten things off to a great start by making sure your customer has purchased the product that’s right for them, instead of pushing the product that would’ve made you the most money. (Nice job.) And let’s say you’ve thoroughly explained the important product details so your customer won’t have any startling discoveries when they get home. (Even better.)

And, if everything played out perfectly, that’s all you’d really need to do to have customers running into your arms each time they needed something new. But, as we all know, life isn’t perfect. Because of this, it takes a little extra to build and maintain customer loyalty.

Have a Plan

With the reminder that accidents happen each and every day, build even more loyalty up front by offering customers the added protection of warranty solutions. Your customer will see you have their best interests in mind and likely appreciate the effort you’re making to make their life as easy as possible by avoiding unwanted replacement situations.

Every person is different, so just as you need to figure out which product works best for them, you’ll need to discover which warranty solution is an equal fit, as well. And the added attention doesn’t have to stop there. If you have any other services that you think might be beneficial for their new purchase, speak up!

That said, avoid being the pushy salesperson. If a customer still doesn’t see the benefits of an add-on even after you lay them out, don’t make them feel like you’re pressuring them to buy anyway.

Prepare for the Worst

No one likes to deal with damaged or broken items — that’s a fact. So, be there and be ready when the unforeseen happens and the customer is in need of a solution. Hey, it’s a great chance to highlight the bright side: thankfully they’ve got a protection plan! Even though you may have a partner who provides your warranty products, you’ll be the one who looks like a hero to the customer.

Seize Every Opportunity

Do you want to ensure every customer is protected all the time? There’s one easy way to do that. Find a partner who can help you deliver on your promise of protection. By partnering with the right people, you can build your add-on offerings to meet each customer’s individual needs, covering each customer when and where they need it most.

Healthy, loyal customer relationships are critical to business success. Follow these three steps to build trust and grow your business.

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Kevin Cundiff
Kevin Cundiff is VP of Retail for Fortegra, a subsidiary of Tiptree Financial Inc. (NASDAQ: TIPT). Fortegra is a single source insurance services company that, through a network of preferred partners, offers a range of specialty program underwriting, credit protection, and warranty solutions.

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