Building Customer Loyalty: The Entanglement Strategy

Access this 10-minute training video now and discover a tool you can use to help your sales team earn the loyalty and respect of their most valuable customers. Discover:

  • Why customer satisfaction isn’t the most important factor in keeping customers loyal
  • Why “switching costs” play such a key role in the customer retention equation/span>
  • And how to create “entangled relationships” to lock in customer loyalty/span>

Why are we giving you all of this for free? Because it’s the best way we know to introduce you to a breakthrough way to develop sales talent in your organization.

Here’s how it works: Request your training video on building loyalty now and we’ll email you a user name and password that gives you instant access to the Selling Essentials Rapid Learning Center. There you’ll find your training video on building loyalty and a collection of other training resources for sales professionals. You’ll have unlimited trial access to this powerful library of e-learning modules, reports and fast-read articles.

More information for those who love details…

The myth of customer satisfaction

Of course you must keep your customers satisfied to keep them around. But satisfaction isn’t enough.

Satisfied buyers switch all the time. In fact, one study found that 50 percent of “satisfied” customers are predisposed to switching suppliers.

Here’s the problem: It’s hard to create a competitive advantage with satisfaction. Buyers expect it from every supplier. And given half a chance, hungry competitors will give do everything they can to appear more responsive, helpful and easy to do business with than you.

So how do you hold on to customers who have no issue leaving you for a competitor at the drop of a hat? One key is to help them recognize the impact of switching to another vendor.

Access this video now and learn you can use switching costs to help you hold on to hard earned customers.

Switching costs

How much pain would your buyer suffer if they stopped doing business with you?

That’s the core idea behind switching costs. Research suggests that when it comes to customer retention, these “switching costs” have twice as much influence as satisfaction.

For some types of products and services, switching costs are naturally high: A company uses a certain customer-relationship management system; if it switches to another system it will lose critical data. In other businesses, such as commodity materials, the cost of switching is usually lower.

Salespeople don’t have much control over these built-in switching costs. But there are switching costs that you can influence: the ones embedded in your relationships with your customer.

The power of ‘entanglement’
Every salesperson works to create great relationships with their customers, of course. But relational switching costs involve more than getting your customer to like you. The key to customer loyalty is to create “entangled relationships” that (1) add value and (2) become difficult for your buyer to unravel.

But how do you entangle yourself in your customer’s business? The video will explain in detail, but there are four key strategies to making it work:

Create more work for your customer. You want to claim a bigger share of your buyer’s to do list

Create multiple decision makers. The more decision makers you have on your side, the harder it is for an outsider to break in

Increase your buyer’s investment in training, and

Get involved with the customers’ planning and development process. Be an essential part of their future plans.

Access this video now as part of a trial to the Selling Essentials Rapid Learning Center.


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