Difference between satisfied customers and loyal customers: Madurai Business Execution Tips

How can you differentiate between your satisfied customers and your loyal customers? Here are eight ways. They are equally relevant to your external customers as they are to your internal employee customers.

1.Pricing. You negotiate prices with satisfied customers. You negotiate costs with loyal customers.

2.Payment. Satisfied customer pay at their discretion. Loyal customers pay on time.

3.Referrals. Satisfied customers become referrals of your competitors. Loyal customers willingly provide referrals to you.

4.Turnover. Generally, you will experience turnover rates of 15% or higher of satisfied customers. The turnover rate of loyal customers will be less than 5% and will be for reasons out of your control.

5.Competitive data. Your satisfied customers are seeking competitive data. Your loyal customers are sharing competitive data.

6.Perception. Satisfied customers perceive you as a commodity provider. Loyal customers perceive you as a partner.

7.Contract. You will need a contract to keep many satisfied customers in place. You have a virtual lifetime contract with your loyal customers.

8.Difficult times. Satisfied customers will leave you. Loyal customers will stay by your side.