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How to build customer loyalty and confidence

9/30/2015

Corporate challenge: A company has a high turnover of customers. Customers keep switching to other brands.

Ironbound solution: Create value for customers, to build confidence in your brand. Creating value for employees will extend to customers. Happy employees deliver excellent customer service that builds brand loyalty.

Ironbound action: Stand behind your products. A week ago a client with a 3-year old iPhone and a client with a 3-month old Acer had battery troubles. The Acer customer had a lengthy and exhaustive experience with Acer customer service, followed by spending money to send the phone to a strange warehouse where it was fixed in a week. The iPhone customer had the phone swapped out in minutes. Companies who stand behind their products, and create value for employees, will always win over the hearts of their customers.

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Brand Growth Strategies During Economic Downturns

9/20/2015

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Image: The Gap Store

Corporate challenge: Retail stores have been affected by an economic downturn in a city. Most of the loyal customers have moved to a neighboring city that has economic growth. The brand cannot survive with the remaining customers.

Ironbound Strategy: Use the economic downturn as an opportunity to create brand extensions and provide more value to loyal customers.

Ironbound action: Open a retail location in the new city to maintain the loyal customers. Modify the original location to reflect the needs of the remaining customers. Creating a down market brand extension can help keep the original location profitable while growing the brand in the region.

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How a New Business Can Successfully Grow Market Share

9/10/2015

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Image: Wawa

Corporate Challenge: Customers are skeptical of a new company and its product.

Ironbound Strategy: Powerful brands create value for customers, society, and employees. Create value for the customer by identifying methods that communicate trust and superior product quality.

Ironbound Action: In 1890 before pasteurization, children would often fall sick from drinking milk. Wawa, a newly founded Dairy Farm at the time arranged for doctors to certify their milk as sanitary and safe for consumption. During the 1920s consumption of milk grew rapidly. In the 1960s Wawa opened stores in response to the shift in customer preference from home delivery to store purchases. Wawa’s core values of teamwork, group consensus, and encouragement helped it become the largest convenience store chain in Eastern Pennsylvania, and part of its regional culture.

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How to build customer loyalty and confidence

Brand Growth Strategies During Economic Downturns

How a New Business Can Successfully Grow Market Share

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