"Worried About Not Having Loyal & New Customers?" [Mobro's R&D(P) Pandora #1]

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Did you know that Pandora's box wasn't just filled with calamities? In fact, 'hope' lay at the very bottom of the box. That's why I named this series 'Pandora.'

"Mobro's R&D(P) Pandora" contains valuable insights and wisdom from masters for both your growth and mine. Just as world-class companies achieve innovation through R&D (Research & Development), through this series, I aim to deeply explore (Read & Develop) my coaching clients' areas of interest and share (Post) those insights.

Before opening Pandora's box, we don't know what results await us. However, when we gather the courage to open it, the probability of finding special hope increases.

Like a treasure chest, open this series. While change and challenges can be frightening, a special gift awaits inside. You'll discover new possibilities and starting points for growth that will drive innovation in your life. Let's begin this journey of finding hope together.

[Mobro's R&D(P) Pandora #1]

"Worried About Not Having Loyal & New Customers?"

For those exhausted from seeking both loyal and new customers, here's what the masters commonly emphasized

#TRUST

Recently, a notable figure frequently appearing in Korean public TV shows, Netflix, and economic newspapers is Jong-won Baek. He gained global attention as a judge on Netflix's original series 'Culinary Class War,' and his company's IPO news also drew significant media and investor interest.

Through various platforms, he has consistently emphasized "securing loyal customers" as a Key Success Factor. He believes that repeat purchases from existing customers are more crucial than attracting new ones, partly because loyal customers naturally become channels for bringing in new customers.

My hero and widely acknowledged master coach Hoh Kim , shared similar insights. When asked about finding new customers, he explained that focusing on giving your best to current customers naturally leads them to introduce new ones.

It's intriguing that both these industry leaders share 'securing loyal customers' as a common success factor.

This raises the question: "How can one secure loyal customers?" Many professionals - consultants, accountants, investment bankers, lawyers, coaches, designers, architects, chefs, consumer goods entrepreneurs (fashion, cosmetics, etc.) - likely share this concern.

I found a clue to this question in the concept of 'Trust.' While 'trust' might sound cliché - I once thought so too.

But consider this question: "What remains unchanged over time?"

Morgan Housel, author of 'Same as Ever,' and Amazon founder Jeff Bezos stress that we should focus on what stays constant in our rapidly changing world, as these unchanging elements help us predict future success factors.

I gained deeper appreciation for trust's importance through 'Trusted Advisor' (by David H. Maister et al.), recommended by Professor Pamela Rucker during Harvard's Women's Leadership course in September 2024.

The book explains that despite reduced face-to-face communication due to technological advancement, trust remains crucial as all business retains human counterparts. Today, we often express this through terms like 'personal branding' or 'reputation.'

"What advantages come with deeper customer trust?" The book lists the following:

When customers trust you more deeply, they:

1. Seek your advice

2. Accept and implement your suggestions

3. Entrust you with more complex, strategic issues

4. Treat you as you prefer

5. Show respect

6. Share more information to improve your service quality

7. Don't dispute your fees

8. Recommend you to others

9. Experience reduced interaction stress

10. Take your side even amid doubts

11. Forgive mistakes graciously

12. Protect you (even from their organization)

13. Warn you of potential risks

14. Maintain comfortable relationships

15. Involve you early when issues arise (perhaps as their first call!)

16. Trust your intuition and judgment (including assessments of colleagues)

Personally, #8 and #15 resonated most, as they typify loyal customer behavior.

We all help others in our own ways - whether customers, partners, superiors, colleagues, or direct reports. Which of these 16 points do you most desire from those you help?

Please comment on which of today's 16 points particularly caught your attention. Feel free to share your thoughts on what resonates or any questions you might have.

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In the next 2nd episode, we'll explore:

"What are the most important characteristics of a trusted person? What core qualities must one possess to be trustworthy?"