#023 The Loyalty Loop, with Drew Davis

KAMCast - Key Account Management Strategies for Business Leaders

IN THIS EPISODE

Do you have LOYAL customers?

What does loyalty mean to you? Is it a destination where happy customers, who love what you do, gather to bathe in the success that your product or service has brought them? Or is it more than that…? Rather than a destination, is it an on-going journey of moments that inspire your loyal customers to commit to you, time and time again, whilst shouting from the rooftops to all who will hear their recommendation to work with you?

How often do you find yourself telling your clients that you are different?

And, when you are comparing your business to your competition, could you - hand on heart - say that you truly offer something that no one else does?

The likelihood is, as we’ve said so many times here on KAMCast, is that the real difference is in you, our team and the EXPERIENCE you provide your customers.

In a journey of moments, how well do you craft an experience that inspires your clients to commit data, time and eventually money before starting the whole cycle again?

Do you deliberately and intentionally inspire the emotions YOU need in your clients to motivate them to WANT the products and services you can offer?

In this episode, I am joined by Drew Davis, bestselling author and internationally acclaimed speaker. He was dialing in from across the pond, so you’ll have to forgive the odd connection glitch in the matrix on the recording!

HIGHLIGHTS FROM THIS EPISODE:

In our conversation, we look at how Key Account Managers need to be thinking more like marketeers in the way they inspire their key clients - constantly engineering what Drew calls ‘The Loyalty Loop’ for repeat business and account growth.

You’ll hear us talk about the 7 key drivers of the Loyalty Loop and how we can create a series of customer interactions/encounters that leave an impression. (Which ultimately grows the revenue with your key accounts.) Listen to the full episode to hear the detail.

The drivers are:

1. Raise anticipation
2. Maximise the honeymoon phase
3. Re-inspire them
4. Answering their trigger questions
5. Scale comradery (at KAMGuru we refer to this as KAM being a team sport)
6. Remove friction from the experience
7. Crucial concern (YOU HAVE TO LISTEN TO THIS ONE)

Through our really interactive discussion we talk about:

• identifying moments of commitment
• engineering the emotions you need your customers to feel at the right moments in the customer journey (Drew suggests quite simply for you to attach the appropriate emoji to each interaction to gauge if you’re getting it right for the customer)
• how KAM, as a team sport, maximises the value of your brand-to-person relationships (getting the sales and marketing team to work with you on the customer's journey of moments)
• where to start to craft different experiences that see you really standing OUT from your competition

My reflections from this episode…

I really loved the 7 drivers of the loyalty loop. I feel like they help us focus our attention on deliberately engineering a seamless and ongoing journey of interactions the leave an impression, increase customer growth and retention and leave a legacy that you and the team can be proud of.

One of my big takeaways was a confirmation that if you create a great experience and concentrate on loyalty - you get more of the clients you want and charge more for what you do because the experience is different

Your reflections from this episode…

When you think about your customer experience… the big moments, the little moments, the micro-moments… how are you engineering the interaction to evoke the right emotions for the right results?

Do you consistently and repeatedly inspire your key customers at the right times, to trigger moments of commitment that reward you with data, time or money?

How do you truly differentiate from your competitors?

As a sales team, are you working to a finite game in a race to this month’s targets and objectives? Or... do you see the key customer experience as a cycle that regularly reinspires to create upselling and cross selling opportunities?

Is KAM a team sport in your business? Do you scale comradery and involve the wider team of talents to maximise the brand to person relationships? (Book a chat with me and I can share more about this with you.)

Killer Question Segment

In each episode, we ask you, our listener, a killer question that is designed to get you reflecting on your business, your KAM Culture and where changes in thinking and behaviour could lead to increased customer success.

In this episode we asked Drew to give us his killer question which was:

“What emotion (or emoji) would you attach to the very next interaction you’re having with a customer?”

Is it a MEH? SURPRISE? YAY? If it’s a sad, disappointed or ‘grey’ (can’t distinguish) emoji – then FIX IT!

FIND OUT MORE ABOUT MY GUEST: ANDREW DAVIS

Andrew Davis is a bestselling author and keynote speaker. Before building and selling a thriving digital marketing agency, Andrew produced for NBC and worked for The Muppets. He's appeared in the New York Times and on the Today Show. He's crafted documentary films and award-winning content for tiny start-ups and Fortune 500 brands.

Today, Andrew Davis teaches business leaders how to grow their businesses, transform their cities, and leave their legacy.

You can find out more about him on his website, connect with him on LinkedIn or follow him on Twitter. You can learn loads from his Loyalty Loop Videos – so check those out on his YouTube channel.