Do you have to be cutthroat if you want your business to be a success? In my opinion, you don't. But you do have to be tough as nails and you must have a killer instinct within you to want to demolish your competition. By "demolish," I don't mean anything unethical, illegal or in any way slandering. Instead, you demolish by putting your best foot forward and making sure your product is second to none.
Loyalty among customers is a lost art (if you can even call it an art). Customers are finicky. We switch sides so often it seems like we never give a company a chance to really grow on us. Part of that is our fault. The other part can be attributed to globalization and the influx of international products that are imported and exported. For those that do remain loyal, I commend you on your commitment to just one company. You have likely survived several takeover attempts as well as many culture changes.
Companies that reward their customers' loyalty should be commended as well, but their job is not done. Now, they have to get their customers back. The process of getting customers back will be tough, but it’s worth it in the end because you are showing you’re willing to go above and beyond for them. One of the major steps you can take is getting involved in social media networks such as Twitter, Facebook and Instagram. The world operates on a tech savvy axis, so now you have to convince the new generation of shoppers to come to you.
A slight change in business practices is another way to get customers back as well. In the past, you might have had customers leave you because of the way you did business. You might have been operating sweatshops or engaged in some insider trading. But the bottom line is you have to get your customers back. Changing your business practices can definitely gain you some attention. You might not get all your customers back all at once, but remember it is a process that might take 3 months or 3 years. It's important that they see you making a change and, most importantly, making an effort.
Customers are going to come and go, that is the nature of the business game. The winners are the ones who play the game smart and don't lose their customers.