LiveCareer News - Customer Loyalty Critical For Entrepreneurs


Customer Loyalty Critical For Entrepreneurs
18 August 2008
Generating customer loyalty through good service and creating positive customer experiences is "critical" to the success of small businesses, particularly during times of economic turbulence.

William Ritter of US small business counseling service Score told Pressconnects.com that while unhappy consumers are an entrepreneur's "worst, worst enemy" because they are more likely to share their bad experiences with others, happy customers can help to generate new business through word-of-mouth recommendations - which is particularly beneficial during tough times.

However, he added, business owners must be aware that generating customer loyalty is "up to them".

Mr Ritter said it helps to give consumers a "personal touch". One of the best ways of doing this is for business owners to deal with customers directly, as this shows they are valued and appreciated.

In addition, email alerts highlighting special discounts and customer reward programs can also be good foundations for building customer loyalty, he noted.

"If you go the extra mile, they will be loyal even on small things," Mr Ritter said.

According to figures from the Small Business Administration's office of advocacy, there were 26.9 million businesses in the US in 2006, 99.9% of which were small firms with under 500 employees.

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