The entire staff at the office was excited. We had been looking forward to the exciting mid-week outing. Office was to shut an hour early and the boss was to personally drive us all to the final game between the NY Knicks and the L.A Lakers. He was fulfilling a promise he had made. His incentive to all of us as we strived to meet some very tough and unrealistic deadlines. The past two weeks had been strenuous and stressful, frayed nerves, raised voices and late nights finally culminated into a triumphant Yessss! TEAM WORK MAKES THE DREAM WORK.
His well thought of incentive served its dual purpose, we bonded over a great game and felt rewarded for all the extra effort and time. A simple gesture that went a long way in binding us all, a feeling that we all belonged, together wanting to take the company higher. The leader had built a personal bond leading to loyalty to the organization.
Appreciation and gratitude are two such virtues that go a long way in creating loyalty in employees and customers alike. As a company we are conscious that customers breathe life into us, they are our partners in business and a loyal customer only strengthens the company further.
Many businesses have a simple, effective customer loyalty program in place too, where every purchase garners you some points and after you have reached the required number you are entitled to a gift voucher of a certain amount, that can be spent on getting something from the available products.
Sales statistics of such companies show that since this system has been in place there has been a healthy increase in the customer base transforming into elevated sales too. There is also always a marked reduction in the cost and effort of selling to a loyal customer. Retaining a customer is easier and cheaper than finding a new customer. This year one such company chose to have solar lanterns as part of the products in the loyalty program. Depending on the number of points collected, they offered their customers the lantern as a single piece or in packs of two. Social media is a very powerful tool! One tweet was what it took to gather attention as to how the company was fulfilling their social responsibilities and gathering loyal customers too.