• About
  • Subscribe
  • Advertise
  • Contact
Tuesday, May 13, 2025
Newsletter
SUBSCRIBE
  • Latest News
  • All Sections
    • Ophthalmic insights
      • Policy & regulation
      • Company updates & acquisitions
      • Research
      • Clinical trials
      • Workforce
      • Product approvals
      • Conferences
      • Opinion
      • Indigenous eye health
      • Retail
    • Eye disease
      • Dry eye
      • Myopia
      • Cataract
      • Glaucoma
      • Macular disease – AMD
      • Diabetic eye disease
      • Inherited retinal disease
      • Corneal disease
      • Presbyopia
      • Eye infections
    • Ophthalmic Careers
      • New appointments
      • Industry profiles
      • Graduates
    • Ophthalmic organisations
      • Regulators
      • Optometry networks
      • Private ophthalmology clinics
      • Associations
      • Patient support bodies
      • Eye research institutions
      • Optometry schools
      • Optical Dispensing trainers
      • Medical schools
      • RANZCO
  • Features
    • Report
    • Soapbox
  • Ophthalmic education
    • CPD – Optometry
    • Optical Dispensing
    • Orthoptics Australia
    • Practice management
  • Products
    • Ophthalmic Treatments
      • Ophthalmic lenses
      • Lens treatments
      • Myopia interventions
      • Light-based therapy
      • Minimally invasive glaucoma surgery (MIGS)
      • Gene therapy
      • Laser treatments
      • Supplements
      • Eyewear & frames
      • Behavioural optometry/vision training
      • Contact lenses
      • Anti-VEGF
      • Intraocular lenses (IOLs)
      • Pharmaceuticals & consumables
    • Ophthalmic equipment & diagnostics
      • Biometry – axial length
      • Perimetry & visual fields
      • OCT
      • Phoropter
      • Autorefractor
      • Tonometry
      • Topography
      • Multimodal imaging
      • Retinal imaging
      • Anterior segment imaging
      • Software & data management
      • Microscopes
      • Slit lamps
      • Lens edging
      • Stands, chairs and tables
      • Ultrasound
      • Dry eye diagnostics
      • Low vision aids
  • Research
  • Classifieds
No Results
View All Results
  • Latest News
  • All Sections
    • Ophthalmic insights
      • Policy & regulation
      • Company updates & acquisitions
      • Research
      • Clinical trials
      • Workforce
      • Product approvals
      • Conferences
      • Opinion
      • Indigenous eye health
      • Retail
    • Eye disease
      • Dry eye
      • Myopia
      • Cataract
      • Glaucoma
      • Macular disease – AMD
      • Diabetic eye disease
      • Inherited retinal disease
      • Corneal disease
      • Presbyopia
      • Eye infections
    • Ophthalmic Careers
      • New appointments
      • Industry profiles
      • Graduates
    • Ophthalmic organisations
      • Regulators
      • Optometry networks
      • Private ophthalmology clinics
      • Associations
      • Patient support bodies
      • Eye research institutions
      • Optometry schools
      • Optical Dispensing trainers
      • Medical schools
      • RANZCO
  • Features
    • Report
    • Soapbox
  • Ophthalmic education
    • CPD – Optometry
    • Optical Dispensing
    • Orthoptics Australia
    • Practice management
  • Products
    • Ophthalmic Treatments
      • Ophthalmic lenses
      • Lens treatments
      • Myopia interventions
      • Light-based therapy
      • Minimally invasive glaucoma surgery (MIGS)
      • Gene therapy
      • Laser treatments
      • Supplements
      • Eyewear & frames
      • Behavioural optometry/vision training
      • Contact lenses
      • Anti-VEGF
      • Intraocular lenses (IOLs)
      • Pharmaceuticals & consumables
    • Ophthalmic equipment & diagnostics
      • Biometry – axial length
      • Perimetry & visual fields
      • OCT
      • Phoropter
      • Autorefractor
      • Tonometry
      • Topography
      • Multimodal imaging
      • Retinal imaging
      • Anterior segment imaging
      • Software & data management
      • Microscopes
      • Slit lamps
      • Lens edging
      • Stands, chairs and tables
      • Ultrasound
      • Dry eye diagnostics
      • Low vision aids
  • Research
  • Classifieds
No Results
View All Results
Home

The mass extinction of loyal customers

by Staff Writer
January 3, 2017
in Report
Reading Time: 4 mins read
A A
Share on FacebookShare on Twitter

Do truly loyal customers actually exist? I don’t believe they do.Now, before leaping forward and citing Apple and its legion of fanboys as the very example of customer loyalty, consider this: the fans of movie-streaming service Netflix were thought to be die-hard once upon a time, right up until the ergence of other streaming services like Hulu Plus, Amazon and Redbox Instant. Then, Netflix’s army of once-loyal customers scattered, switching to services that better suited each one’s changing tastes and needs.Where does that leave Netflix? The company is today struggling to rain a major player in its own market.What about bank tv commercials proudly proclaiming that generations of people have banked there, so why wouldn’t they continue? Yet, thanks to the Occupy movent – #occupy on Twitter – that has raised awareness of the giant profits of corporations across the world, big bank customers are defecting to smaller banks and credit unions to satisfy their own ethical preferences.What does this mean at the retail level? Customers are constantly re-evaluating not just the product but also the entire purchasing experience. They are kicking the tyres a lot but they’re doing it everywhere, not just at one business.Loyalty is deadFor a long time, customers were trapped. Switching is generally such a pain that it kept consumers stuck in limbo, not really satisfied with their experience but not really feeling enough real pain to go through the difficult process of leaving one business to use another.{{quote-A:R-W:450-Q: Not only must stores keep evaluating their customer experiences, but they must also keep their eyes on the competition and watch for changes in the needs of customers }}Ever tried to cancel a gym mbership or change mobile phone providers? Ever driven across town just to use a Coles instead of a Woolworths?Now, however, the barriers are breaking down. Typically a five-minute sign-up is all it takes to enjoy the spoils of becoming a new customer elsewhere.Consumers want to find a spot where they can stay. It’s too difficult to keep evaluating the competition. New businesses are the ones who do this best because they do it for the consumers – they explore the marketplace, find a source of pain or a dand for a new service, and they provide a solution to that ‘probl’.Businesses, however, become fat and happy while ignoring the truth: that their product is no longer cutting-edge and their customer experience is lacklustre and dated. But it’s OK, they say, because they still have their loyal customers, right? Don’t be fooled.When a business owner pushes evaluation and innovation to the back burner, big changes in customer expectations are brewing. All the while, competitors are watching and stirring the pot. Stores, including optometry practices, need to make customer experience a priority and they need to do it today.But who has the time to explore what’s happening on the outside? Already, day-to-day operations have the business fully stretched.The smart businesses, the ones who continue to delight their customers beyond the honeymoon phase, are the ones who prioritise their evaluations.Not only must stores keep evaluating their customer experiences but they must also keep their eyes on the competition, all the while watching for changes in the needs and expectations of the customers/patients.Rber the old stories about the Pony Express? They were hailed as heroes – rightfully – because they delivered the mail no matter what. Now, the US Postal Service is pushing enhanced and more specialised services into the market to compete with courier parcel services like UPS and FedEx.Australia Post is doing the same thing. The expectations have changed and it’s not enough just to deliver the mail anymore.The absence of constant market evaluation means the competition will gain ascendency when addressing the ever-changing expectations of those shared customers, and it will be too late to respond once it happens.

Relationships are like banksA friend of mine once explained why our friendship was so strong: “Relationships are like banks. It works best when you both make deposits. That way, there’s always something in the bank for a withdrawal.”His observation was truthful for many reasons. Apply this idea to business relationships and with customers, and you’ll see everyone, whether customer or business, needs to make a withdrawal from the relationship bank at times.If your customers feel nurtured and appreciated during the good times, they will be more forgiving and compassionate when there’s a probl. If your customers mistreated or neglected when everything is going as expected, how will they feel when you need to make a withdrawal from the relationship bank?

 

Related Posts

Each year, Vision Australia helps between 80 and 100 people with blindness and low vision into employment.  Image: Vision Australia.

Vision Australia – working to give people a future and a ‘fair go’

by Rob Mitchell
May 12, 2025

A diagnosis of permanent vision loss is not the end. At Vision Australia it’s the start of a new journey...

The chance to network with peers is a highlight for attendees. Image: ODMA.

Taking stock and team building at ODMAFair

by Staff Writer
May 11, 2025

Independent optometry practice owners discuss why it’s so important for their teams to break the daily practice cycle and attend...

Nicole Grasso fitting a frame to a patient during an outreach trip to Fiji in 2024. Image: Nicole Grasso.

Sharpening your manual dispensing tools

by Staff Writer
May 10, 2025

When did you last use your PD ruler and felt tip pen? With so much tech available at the optical...

Join our newsletter

View our privacy policy, collection notice and terms and conditions to understand how we use your personal information.

Insight has been the leading industry publication in Australia for more than 40 years. This longevity is largely due to our ability to consistently deliver accurate and independent news relevant to all ophthalmic professionals and their supporting industry.

Subscribe to our newsletter

View our privacy policy, collection notice and terms and conditions to understand how we use your personal information.

About Insight

  • About
  • Advertise
  • Subscribe
  • Contact
  • Terms & Conditions
  • Privacy Collection Notice
  • Privacy Policy

Popular Topics

  • Business
  • Feature
  • Research
  • Technology
  • Therapies
  • Classifieds

© 2025 All Rights Reserved. All content published on this site is the property of Prime Creative Media. Unauthorised reproduction is prohibited

No Results
View All Results
NEWSLETTER
SUBSCRIBE
  • Latest News
  • All Sections
    • Ophthalmic insights
      • Policy & regulation
      • Company updates & acquisitions
      • Research
      • Clinical trials
      • Workforce
      • Product approvals
      • Conferences
      • Opinion
      • Indigenous eye health
      • Retail
    • Eye disease
      • Dry eye
      • Myopia
      • Cataract
      • Glaucoma
      • Macular disease – AMD
      • Diabetic eye disease
      • Inherited retinal disease
      • Corneal disease
      • Presbyopia
      • Eye infections
    • Ophthalmic Careers
      • New appointments
      • Industry profiles
      • Graduates
    • Ophthalmic organisations
      • Regulators
      • Optometry networks
      • Private ophthalmology clinics
      • Associations
      • Patient support bodies
      • Eye research institutions
      • Optometry schools
      • Optical Dispensing trainers
      • Medical schools
      • RANZCO
  • Features
    • Report
    • Soapbox
  • Ophthalmic education
    • CPD – Optometry
    • Optical Dispensing
    • Orthoptics Australia
    • Practice management
  • Products
    • Ophthalmic Treatments
      • Ophthalmic lenses
      • Lens treatments
      • Myopia interventions
      • Light-based therapy
      • Minimally invasive glaucoma surgery (MIGS)
      • Gene therapy
      • Laser treatments
      • Supplements
      • Eyewear & frames
      • Behavioural optometry/vision training
      • Contact lenses
      • Anti-VEGF
      • Intraocular lenses (IOLs)
      • Pharmaceuticals & consumables
    • Ophthalmic equipment & diagnostics
      • Biometry – axial length
      • Perimetry & visual fields
      • OCT
      • Phoropter
      • Autorefractor
      • Tonometry
      • Topography
      • Multimodal imaging
      • Retinal imaging
      • Anterior segment imaging
      • Software & data management
      • Microscopes
      • Slit lamps
      • Lens edging
      • Stands, chairs and tables
      • Ultrasound
      • Dry eye diagnostics
      • Low vision aids
  • Research
  • Classifieds
  • About Us
  • Advertise with Insight
  • Subscribe
  • Contact Insight

© 2025 All Rights Reserved. All content published on this site is the property of Prime Creative Media. Unauthorised reproduction is prohibited