THE LADDER OF LOYALTY
A SUSPECT is a potential client. Do they fit within your target market, in your geographical area?
Are they willing to buy?
SUSPECTS include any individual, or business name who you’ve acquired through marketing efforts, and who fits into your target market demographic.
For instance, you might collect the business cards of everyone who stops at your booth at a business expo. Once you’ve removed any that don’t fit into your target market, the remaining individuals would be considered SUSPECTS.
A PROSPECT is a SUSPECT who has taken action: e.g. phone call, e-mail, or visited your premises.
You Must collect their details and stay in touch, as customer loyalty is about relationship building.
Build a database of PROSPECTS. Use sales skills to move them up the Ladder of Loyalty.
Your SUSPECT will become a PROSPECT when they become interested enough in your business to make an inquiry. This could mean downloading a piece of your marketing material, submitting a request for more info, or even scheduling an exploratory meeting.
A SHOPPER is someone who buys once only but not yet decided to continue doing business with you in the future.
You Need to record the sale in you records.
This Allows you to differentiate between a PROSPECT and CUSTOMER
You need to move them up the ladder so they buy multiple times
A CUSTOMER is a SHOPPER who makes a 2nd purchase.
They have a feeling of belonging. They are 10x more likely to make a purchase if they’ve already made 2 purchases.
When you start to see a consistent buying pattern, you’ll want to move CUSTOMERS to the next rung on the ladder.
Put the effort in. Give them a membership card and pack.
Provide a product catalogue. Do something that will want to make them come back.
A MEMBER is someone you need to build a relationship with.
In order to move a CUSTOMER into the MEMBER category, you’ll need to build a trusting relationship.
The people who enter this category feel like they belong. You may reward them with a MEMBER kit or other benefits. You’ll know you’ve succeeded when the CUSTOMER is no longer seeking competitive quotes for your product or service.
An ADVOCATE is someone who sells you to other people. They Will give you referrals, or promote you. An ADVOCATE is major capital asset.
Your clients will become ADVOCATES when they start selling your product or service for you, through referrals and testimonials.
A RAVING FAN is an ADVOCATE who will sell for you.
A RAVING FAN is someone who can’t stop selling for you.
They can be regarded as part of your team. They want to see you succeed.
RAVING FANS take it upon themselves to do your selling for you. They can’t stop promoting you. Whenever they’re out in public, they talk about the great product, service, and experience they have with you.
Therefore, they’re an integral part of your sales team! Look after them.
Having RAVING FANS as part of your business makes business really easy.
Watch the Youtube video here: https://www.youtube.com/watch?v=4OcWx4Sy0UQ