Top 3 Ways to Kill Customer Loyalty
Long term customer retention is definitely simpler in some industries than others. Many products and services strategically involve customer exit barriers, such as contractual agreements, high initial costs, fine print, and other ways of locking in the client. In other sectors, (the app marketplace for example, which is often described as competitive and even saturated) this is not quite the case, and some extra work is required to maintain content customers. Even if your product is unique and of high quality, there will always be a multitude of competitors out there who have superior performance in at least one aspect and are ready to do all they can to capitalize on this and swoop in on your hard-earned customers. When there is no significant obligation or penalty preventing your clients from leaving, what’s stopping them from switching at any given moment? This is where the significance of investing in creating customer loyalty is apparent—neglecting this piece of your strategy can cause a great loss that will be a real struggle to recover from. Here are a few of the most common and detrimental mindsets that are huge drivers in destroying customer loyalty.