In this Episode 13 we go through the 8 Concepts in the Loyalty Stage .

Concept 1 - We are starting the 4th "C-phase" which is Community where we create our tribe and raving fans. This is a key phase where you cement Loyalty, create Network, and encourage Evangelize.  

Concept 2 - Up to this point you have focused on a one-to-one Consulting relationship through Enter, Expand and Exclusive. Now you cement Client Loyalty with programs. You create your Client community platforms to develop one-to-many communications where Loyal Clients can refer you to others.

Concept 3 - Loyalty Stats - What makes clients loyal to a brand? 55.3% are loyal because they love the product. 25% are loyal due to great deals. 7% are loyal due customer service. Note: Poor product quality is the #1 reason (at 51.3%) why a brand would lose a customer. How many purchases does it take to make a customer loyal? Answers: 37% more than 5 purchases, 33% more than 3, 17% more than 4 purchases.  Getting to 5 purchases is a difficult road due to:  •67% expect 24/7 service •71% anticipate discounts •58% seek free shipping.

Concept 4 - Lifetime Client and New Territories - you are building on your client development steps and continue to: develop a trusted consulting relationship, you reach 100% wallet share. continue to grow with Clients business growth. To continue revenue growth into the future, work with your Clients to find new business opportunities, new business models, new partners, and revenues accelerate.

Concept 5 - Client Lifetime and Lifetime Value - Two key metrics for customer loyalty :

1.Client (Customer) Lifetime – how many years has this company/person been a customer/client? Calculate the average Lifetime for all your customers/clients.

2.Client Lifetime Value (LTV) – Calculate the total lifetime revenue $ received from each client. Calculate the average LTV $ for all your clients. 

Concept 6 - Net Promoter Score -  NPS is an easy to measure “what they say” Customer Loyalty metric using the question: “How likely is it that you would recommend us to a friend or colleague?”.  The follow-up question is even more important "Why did you give your answer?"

Concept 7 - Why do you lose customers? 

1.They feel neglected

2.They have reasons not to trust you

3.Someone else has promised to do a better job

4.Almost all business have this blind spot

5.Most companies spend 5x on customer acquisition vs. retention

6.BTW – why do employees leave? See 1, 2, and 3.

Loyal Customers are worth it:

60% loyal customers refer to friends and family

52% join a loyalty program

39% will spend more on a product even if cheaper elsewhere

Concept 8 - Starting your Community. Use these steps:

1.A Leader – you or a key executive who has the voice for your company. You must have a visible leader with a Cause and Primary Beliefs. 

2.Platform where Community members can communicate with the Leader

3.Platform(s) where Community members communicate with each other

4.Share positive Client experiences (Journal case studies)

5.Provide an omni-channel experience – social, help desk, chat, events, user groups, idea forums,