Blog 133: The Wrong Kind of Loyalty

You have no idea how valuable a loyal client is until you lose them. So don’t lose them. There are two kinds of loyalty, the first is the loyalty of convenience and obligation which breaks down into two groups. The first is habitual, your clients are loyal because you are part of their routine, they walk past your store or they have always been a client of the bank. The problem here is that they are not emotionally invested, the moment their routine is altered they will never darken your door again. The second kind of habitual loyalty is that of perceived inconvenience. Your client isn’t emotionally invested in the relationship but believes that it would be too much of a hassle to change to someone else. The problem here is that the moment a competitor offers enough of an incentive to justify the perceived hassle your relationship is in jeopardy. To keep your non-emotionally invested clients from paying too much attention to the other suitors you’ll have to pimp yourself out for as little as possible. The final kind of loyalty is that of identity. There is an emotional investment that your client has made. You represent more to them than a simple or reliable service. You have transcended the transaction. Think about sports fans who love their team and they don’t care if they never win. Their loyalty and fandom aren’t based on wins, it’s based on a shared sense of identity and world view. When we are emotionally invested, we feel like we are part of the story. Thanks for being a part of our story. Take care, Dennis Moseley-Williams Are you ready to shift? We have worked with thousands of professionals who want to “SHIFT” and create more for their customers and themselves. Web: www.moseleywilliams.com Email: ask@moseleywilliams.com Instagram: @dennismoseleywilliams Facbook: /www.facebook.com/dennis.moseleywilliams LinkedIn: https://www.linkedin.com/in/dennis-moseley-williams/?originalSubdomain=ca

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