Business decisions, rocket science, and understanding the difference.
Part 3. | “Good customer service costs less than bad customer service.” – Sally Gronow
OK, we’ll admit it, we’re not big fans of pithy little quotes. So here’s another:
“The customer’s perception is your reality.” – Kate Zabriskie
So why our break from tradition? Because we are talking about something very important here: customers. And, as Michael LeBouef once said, “Every company’s greatest assets are its customers, because without customers there is no company.”
An average business loses 10% of its customers each year due to dissatisfaction with that business according to DestinationCRM.com, an online site dedicated to customer relationship management. What does that 10% represent? Well, if you cut those losses by just 5 percent, you can in turn boost profits by 25 to 125%.
That’s right, 25 to 125%.
Now, there are going to be certain customers that you lose through no fault of your own. No matter how silver platter the experience in dealing with your organization is/was. But since it costs six to seven times more to acquire a new customer than to keep an existing one, examining why you lost customers that you could have easily kept in the fold is certainly a examination worth making. So, here are just a few tips to consider if you are looking to maximize customer satisfaction…and the associated revenue and profitability that grows, or is lost, to it. Part 4 Inundate, Inundate, Inundate →