We've all heard someone, at some point tell us 'it's easier to keep a current customer happy than it is to find a new customer.' There is giant truth to this statement. You certainly want your customers to be with you for years and years - you've built relationships with them, know their kids names, gone above and beyond to get their challenges solved, have had many laughs with them, and helped them in every possible way you are able. But, then one day; Johnny Slick walks through the door with a new start-up company that is offering a much lower price, tons of empty and unproven promises, and loads of fluffy-meaningless words of what the new Johnny Slick product offers that yours may not; and just as fast as a movie theater clearing out when someone screams 'fire' - your long-standing customer is gone.
Customer loyalty is everything to your ultimate OEM business sustainability and success. Their loyalty can literally make or break your entire business. But how to attract and retain your end customers isn't always as easy, or something you feel like you have control over because in the market today competition is tough, options are plenty, and people simply expect more from your business than ever before.
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