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Cheap To Keep
You've heard it all before when it comes to stats about customer retention. Acquiring a customer costs five to 10 times more than retaining one. Repeat customers spend, on average, 67 percent more. After 10 purchases a customer has referred as many as seven other people.
So, if your focus is on acquiring new customers instead of keeping the ones you have, you are off the mark. Here is a brief overview on how to retain customers.
- Ask. New York Mayor Ed Koch was famous for asking "How am I doing? He always knew where he stood, even if he wasn't always happy about the answer. So, survey your customers about their likes and dislikes. Then, follow through with the information you receive.
- Profile. Learn as much as you can about your customers and then do something with that information to show them that you value them. Find out what makes a "best" customer and then put programs in place to move more of your customers into this category.
- Reward. Humans like to be treated as if they are special, and they will return to businesses where they have had these positive experiences. Reward them with special deals, or just pay a little more attention to them. In this era of digital communication, just sending a hand-written note gets you major points.
New business is exciting, I'll admit. But it is the clients you have that will bring you the most success over the long run. Don't spend five to 10 times more to bring in that new customer. Instead, invest a fraction of that to keep your customers coming back and referring similar "best" customers.
Harry Hoover is managing principal of Hoover ink PR. He has 26 years of experience in crafting and delivering bottom line messages that ensure success for serious businesses like Brent Dees Financial Planning, Focus Four, Levolor, New World Mortgage, North Carolina Tourism, TeamHeidi, Ty Boyd Executive Learning Systems, VELUX, Verbatim and Youth Link USA.
Customer Service - Google News
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At the Carwash; The Customer really is always Right
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Listening to Customers - 5 Tips
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The buzz is all about customer service and call center outsourcing, also known as BPO (Business Process Outsourcing). According to Gartner, the outsourcing market in Europe has grown with over 6%, BPO with 10%.
Dealing with Disgruntled Customers
No matter how hard you try, in business you simply can't please everyone. You could have a highly trained customer service squadron and an award-winning product, but still you'd have some buyers who just weren't happy.
Moments That Matter
Many years ago, I was a first year apprentice assigned the task of pressure washing a set of condensing coils on the roof of a grocery store on Capital Hill in Seattle, an upscale part of town.It was a 90-degree day, in late August.
Who Says the Customer is Always Right?
We all know the old adage, "The Customer is Always Right." If you are an online business owner or offline for that matter, you are on both sides of the subject almost everyday.
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Whether in a restaurant, a retail establishment, or the local post office, we have all experienced a decline in customer service. Rarely do smiling, happy employees interact with us anymore.
Develop Loyal Customers for a Lifetime - part 1 (1 - 10)
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Mexico: Online Ordering-Dont!
I got it into my head sometime in December 2004 that I wanted order a laptop computer. I thought I would get one from the hugely popular computer company that allows you to call their 800 number and custom order what you want.
Why You Should Always Honour Your Guarantees - Even When The Customer Is In The Wrong
The Reason Why Direct Internet Marketers Have To Work So Hard To Earn Our TrustA bad attitude to customer service can literally destroy your business.So, I thought I'd share my response to what I read on an Internet Marketing Forum recently to illustrate my point.
Increase in Customer Sales = Increase in Customer Service
One of the most popular questions asked in online business forums or even by my customers and subscribers is this :"How the hell can I increase my sales?"or"I've got tons of visitors but nobody seems to be buying anything? What gives?"FISHNETS WITH HOLES? ANYONE?Getting traffic is not the be all and end all of a successful online business. It requires skills, specific online marketing strategies designed for your site and a robust customer service strategy.
Got A Consumer Problem?
Millions of people, just like you, end up with a consumer problem that they just can't seem to get resolved. No matter what they do.
What Every Manager Should Know About How to Learn from the Complaints of Customers and Employees
Listening to complaints, whether they're reasonable or not, is a part of every manager's job. Sometimes complaints can be overwhelming.
Why Communication Skills Dont Work In Customer Service
Every time my firm conducts communication skills training, we know someone is going to object."That doesn't work.
What Every Manager Should Know About Seeing the World from Where the Customer Is Standing
It is important to remember that the customer doesn't necessarily see things in the same way we do. This point was brought home to me one day while I was shopping with my daughter, Stefanie, who was two years old at the time.
4 Myths about Customer Value
The purpose of business is to create and retain a customer.Much has been written about customer orientation, customer relationship management (CRM), Customer Lifetime Value (CLV) metrics, Customer Centric organization models, customer retention, customer care-add any high sounding word with -customer- preceding or succeeding that word and you have a new model, a new theory.
Sorry, No Customer Service After 4:00 P.M.
A few months ago, I wrote about ingenious styles of customer service that every business should know about, mostly because their employees were inflicting them on their customers.For instance, I warned about "in your face customer service" and "run for cover customer service", two equally effective opposites.
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