RETAINING YOUR CUSTOMERS

Today, no doubt the trend is shifting from consumers brand loyalty to consumers porting from one brand to another (consumers brand switching behavior). The extent at which consumers can go to switch brands this days serves as an eye opener to managers not just in the corporate world but also in any form of business establishment. Those firms whose managers still adopt an orthodox method of management stands the risk of doing their business at the mercy of new generation firms who are taking over market shares by manipulating the consumers to patronize them and their products and services alone.
No doubt, consumers are no longer paying attention to the various promos used by firms and businesses to lure consumers into patronizing them. The consumers are now more enlightened than before to spot the tricks behind those promotions and again the needs of the consumers have equally shifted accordingly to suit the lifestyle of consumers. Managers and business owners are having a hard time meeting up with the ever changing lifestyles of the consumers thereby losing a reasonable percentage of their market values and share index to more realistic and vibrant managers.
Today, more businesses are springing up and the equal numbers are folding up, this is enough reason for managers, business owners and intending entrepreneurs to worry.
The good news is that there is a simply solution to this dreadful trend. What some managers are missing out on is the idea of conducting their business as NO MORE A BUSINESS BUT A PERSONAL RELATIONSHIP VENTURE AND PARTNERSHIP WITH THE CUSTOMERS. This is the missing link. Consumers are having a tough day everyday of their lives, the nature of the society has pressurized people into isolation and subsequently sad moods. The need to have a friend who really cares is high, people go as far as paying huge sum of money just to have a trusted and friendly companion. Take advantage of this as a business owner, bet me you will never loss a customer.