What is that thing that you do, that makes your business unique? Today we can buy from anyone, why would we buy from you? In the new economy, connection and experience matter.
I go to the same drycleaner, Bobby, and to the same mechanic, Murph, for over a decade. These business owners treat me like family. The service they have offered over the years was consistently incredible. It would not occur to me to replace them for someone closer or cheaper. My life would be poorer without them.
Of course, rewards and loyalty programs developed by so many companies work as well. But there must be a sweet point where price meets great experience otherwise customers may drop their most favorite business quickly, as the case of Netflix proved a few years ago. When in 2012 Netflix changed prices, changed their site, and announced they were dropping the DVD program in favor of the online streaming, they lost around 80, 000 subscribers.
TO DO: What can you offer either as a special ingredient (customer service, experience) or as a loyalty system to keep your clients delighted and hooked on your product?