Loyalty in business goes a long way
The very nature of business is highly competitive. Everyone wants to be the best in their industry. At the very least, in this post-COVID-19 world, you want to stay afloat. As desperation runs high, companies expose their true colours and the extreme efforts they go to in order to capture sales. Loyalty is a key quality that businesses need to both offer and attain from their customers naturally but it’s crucial to sustain business in critical times.
We are living in “Coronavirus times” where businesses of all sizes and from all industries are reeling from the effects of the global pandemic. Employers and employees have been stretched thin and it’s understandable to feel overwhelmed or vulnerable during this time.
We’ve seen restaurants and cafes shut but stay open for takeaway orders and home deliveries only. These businesses must rely on their digital marketing skills and the loyalty of their customers to keep business open. The same applies to the corporate world.
The loyalty a business cultivates with their customers is imperative to business growth and success, especially during these uncertain times. Everyone is struggling and when you think about your personal consumer choices, will you go with the brand that’s always been there for you, the one that you can trust, or the one that you’re unfamiliar with but are offering a great deal right now? Which is why loyalty in business is beneficial for many reasons but one of the most important reasons is that it makes customers come back, spend more money, and refer your business to their friends. This is extremely crucial right now as most people are financially struggling due to COVID-19.
In these dire circumstances, the battle to survive can get ugly, especially in highly proliferated markets. Coronavirus, or crises, is not an excuse for businesses to resort to underhanded tactics such as poaching competitors’ clients or cajoling. It is unprofessional, impertinent and damages a company’s reputation in the long run.
Best-practice businesses make sacrifices during hard times in the best interests of their community to ensure the high-quality standard does not change as challenges arise. Victory Offices employees have volunteered to reduce their work hours to put Victory members first. By doing so, Victory Offices can remain open, support their members, and provide the same award-winning 6-star customer service, even during a crisis. This shows genuine loyalty between staff and the company and to their clients as well. The alternative option that other companies have displayed is not only reducing employee hours but standing down hundreds of staff as well.
As customers and business owners, do you want to jump ship to a company that uses unscrupulous practises or do you want to stay committed to those who you know, who you can trust and who have been there for you in hard times?
Now more than ever, your efforts to attain business continuity should be focused on loyalty coming from both the company and the customer. Not only when you are the customer, but you must consider the same perspective with your company and your customers. The value you can provide to your community will make all the difference and reward you in the long run.
For businesses that have possibly adopted a defeatist outlook or lost confidence in their abilities, let’s take a breath and regain perspective. Start to create or nurture those loyal relationships. Don’t be too concerned with perfection, just make sure you focus on that forward-motion of action and respect.