Saturday, March 7, 2009

Loyal Customers

I have used the same bank for my primary savings & checking account for over 30 years.  That’s saying something… especially during these turbulent economic times.  If I asked anyone, including the CEO of that bank, whether or not I should be considered a loyal customer, the answer would be “Yes, absolutely!”  But, everyone would be wrong… at least according to my (more optimistic) definition of “Loyal”. 

Yes, I have been a long-time customer… but I have ‘only’ purchased a miniscule portion of the services my bank provides.  I never used my bank to finance even one of the 13 cars that I have purchased… or to help put my daughter thru college… or to purchase my home... 

The #1 reason why my bank LOST tens of thousands of dollars of my business… is simply because nobody asked me!

Therefore, before you spend all of your energy & resources chasing ‘new’ business, take a look at your current customers to see how much of your services they are using today.  How many ‘loyal’ customers do you really have?

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