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Retain those who matter most
Stickiness is how well your business and the offering it provides resonates with its stakeholders. The stickier the more long-lasting and committed relationships you will have with your clients, employees and partners. With increasing competition and focus on marketing, it’s essential your brand is the first that comes to mind when people think of quality and consistency.
Never forget – Show your appreciation
You should be aiming to create brand ambassadors from your various stakeholder groups, who are eager to sing your praises. Consider this as a win-win situation, where you delight them, so they interact with your company more often, whilst simultaneously they are recommending you to others. Sounds good, doesn’t it?
How to make your brand the best choice
With the increasing influence of technology, opportunities to communicate with potential stakeholders are abundant. However, amongst a variety of competition, their attention is more difficult to captivate than ever. It is vital that your brand resonates with your clients and potential clients, because having the best offering is not enough, if you don’t have the reputation to back this up.
Being the best brand – there’s no secret
With so many options, the modern consumer is fickle. Each time they purchase, they must weigh up whether they want to buy the cheap or quality option. Effective marketing will help, but its influence is only temporary. To maintain your reputation, it is important to provide a consistent and positive offering to your clients.
Creating a captivating brand identity is easier than you think…
With the increasing influence of technology, opportunities to communicate with potential stakeholders are abundant. However, amongst a variety of competition, their attention is more difficult to captivate than ever. It is vital that your brand resonates with your clients and potential clients, because having the best offering is not enough, if you don’t have the reputation to back this up.
What elements of your business are most important in retaining stakeholders?
Stickiness refers to the commitment a person has to an organisation, cause, or belief. Having a high degree of stickiness will not only result in greater stakeholder retention, but also stakeholder engagement. Customers will spend more, employees will be more productive, and suppliers will be more collaborative. This is an effective attribute because finding new stakeholders is a greater drain on resources; this will also provide a more certain financial base to develop from…
How do you utilise your most loyal stakeholders?
To create engaged stakeholders you have to make them part of your brand story, so they feel aligned and involved with your mission. Cultivating these valuable relationships is important not just because retention will result in higher profits, but because of the high-quality marketing resource they represent…
Have you considered that the wider impact of your business may be a key factor in attracting potential stakeholders?
Patagonia have become a recognisable and well-regarded company in the outdoor clothing market. Since 1985 they have pledged 1% of their sales to the ‘preservation and restoration of the natural environment.’ They use this money to fund groups internationally who look to preserve the ecological balance in their local areas…
Does your business resonate beyond the service or product you provide?
Unless your offering is unique or particularly outstanding, you cannot simply rely on this to attract potential stakeholders. Where offering a solution might once have been enough, it is increasingly important to create an emotional connection that will differentiate you from the competition…
Do you have strong cooperative relationships with your suppliers and partners?
Riverford Organic Farmers deliver seasonal recipe boxes to the door. As a company, Riverford demonstrate the importance of nurturing supplier relationships that are mutually beneficial.
Founder Guy Singh-Watson prides himself on building long-term partnerships with his suppliers. In an industry where harvests are weather dependent, and therefore volatile, having shared trust between buyer and seller is vital for productive business…
What do you want to be famous for?
When embracing the plateau between periods of business growth, it is important to consider what makes your organisation attractive to work with, and what could make it even more appealing. Take some time to objectively consider your brand; what should be iterated or evolved?…