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

As the world joins forces to contain the current COVID-19 crisis, businesses are concerned with the impact that events may have on the relationship with their customers. Customer loyalty and trust are being put to the test. Companies want to continue to provide excellent value to their customers, and they want to return to growth as soon as they can after the crisis lifts. This is a time for companies to look ahead, to consider the improved and innovative offerings they can launch in the market now that will serve customer needs today as well as provide momentum into the future. By letting customers know they are important by keeping their interests first and foremost, companies can retain customer loyalty and trust.

Topics covered in this POV include:

• Be true to your brand and purpose. Maintain lines of communication with all stakeholders, and strengthen relationships with your most loyal customers.
• Be innovative. Find new ways of working with customers, new ways to drive revenue, and new technologies that can solve challenges and identify opportunities.
• Review and assess. Now is a good time to evaluate assets, processes, and digital systems in order to streamline and improve operations.