The Hidden Power of Your Customers: Four Keys to Growing Your Business Through Existing Customers

ANATOMY OF A “CUSTOMERS ROCK!” COMPANY

It is increasingly harder to find new customers in the face of mounting competition for their attention. As a result, many companies resort to competing on price and trying to woo customers away from competitors. But there are companies whose customers would never leave them, no matter what competing businesses offer. How do these companies earn such loyalty? By believing their customers rock, and running their entire business according to that principle.

“Customers Rock!” companies build a loyal fan base by spending a large portion of their marketing and advertising budgets on the “care and feeding” of existing customers. They know their customers by face and name. They empower their employees to focus on what’s right, not on who’s right. They ensure that every point where they interact with customers adds to the overall “brand experience.” They hire customer-facing employees who have a passion for people, and they measure these employees based on whether customers return—and bring others with them. They listen to their customers before speaking to them; they engage them in a two-way conversation rather than just shouting advertisements at them. They treat their existing customers like gold. They are truly “Customers Rock!” companies.

Not all companies function this way, as we all have experienced. These “other” types of companies are, typically, more concerned about costs than customers. They treat customer service as a cost center rather ...