#Tesco – 7 drivers of growth and #customerloyalty
At this year’s Loyalty World conference, Sir Terry Leahy was asked what he felt were the main drivers of customer loyalty at Tesco. Here is what he had to say:
- Trust – customers need to trust you before they will be loyal to you. They want to know you have their best interests at heart.
- Information – your organisation needs to be transparent. Be open about who you are and what you stand for. Your customers want to know that you aren’t trying to rip them off.
- Health and beauty – everybody wants to stay young and beautiful.
- Convenience – you need to make it easy for people to shop with you. For example our Tesco Express stores save people time and make it easy for them include a daily shop into their every day routines.
- Simplicity – choice is good, but you have to navigate people through this choice and solve their problems in a satisfying way.
- Loyalty – it is a far better investment to concentrate on the customers you have and strengthen the relationship you have with them than to throw money away by just trying to attract new customers. In fact, by better satisfying your existing customers you actually also attract new customers for free!
- Going green – your business has to be sustainable or you wont grow as you’ll be hit hard by regulation and taxation. Your consumers also want to know that you are sustainable and that they will not face knock-on effects later by shopping with you.
Find out more about Sir Terry Leahy and his experiences at Tesco here
