Deloitte: COVID-19 – Maintaining customer loyalty and trust during times of uncertainty

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Deloitte COVID-19

As the world joins forces to contain the current COVID-19 crisis, businesses are concerned with customer optimism. The two foundations of customer loyalty, trust and confidence, are being put to the test. While we all hope this is a temporary situation, anxiety is high, and people are scared.

This global crisis is truly about customer moments that matter. By putting your customers’ interests first,
this can be a time for your company’s brand to lead. Even though you might be taking a short-term hit to your bottom line, putting flexible refund, pricing, and change policies in place, and finding other ways to help your customers through this crisis will be beneficial to the long-term health of your company

Here are some suggestions to help you manage your customers during the current situation

  • Be true to your brand and purpose
  • Communicate to customers
  • Communicate to your employees
  • Develop new ways of working with your customers
  • Try to Team up
  • Do your best to take care of your loyal customers
  • Find new ways to drive revenue
  • Assess your orders, inventory, and service levels
  • Review your marketing and advertising
  • Also review your digital properties
  • Use advanced technology
  • Remember that cash matters

It’s important to remember that we have faced crises like this in past and will face them again in future. Companies want to return to growth and want to continue to provide excellent value to their customers. What moments in people’s lives can you improve via your offerings? What new, improved and innovative offerings can you launch in the market now that will give you momentum as we come out of COVID-19? Now is a time to look at that, and to factor that into your future offerings roadmaps. Let your customers know how important they are to you by keeping their interests first and foremost. You will be rewarded by customer loyalty and trust.

Source: Deloitte Digital Global Leaders

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