You like statistics...and quotes?
I did not want to just put quotes, stats and facts in an article - like those you see in social medias. Certainly not without commenting them or without giving some directions or additional thoughts. Social medias have a plethora of facts, quotations and statistics but, this time, I add a few thoughts so that you can take advantage of it as much as possible. This week, let's look at customer service.
Did you know that... 78% of consumers have bailed on a transaction or not made an intended purchase because of a poor service experience. – American Express Survey, 2011 Sometimes, we need to realize how much business is lost because of the perception customers have concerning the service provided to them. If you calculate the cost of one lost customer, it makes quite an amount at the end of the year. So, taking care of your customers may turn them into loyal customers and it will help in the long run. On average, loyal customers are worth up to 10 times as much as their first purchase. – White House Office of Consumer Affairs 10 times! Again, numbers talk. Increase your customer retention level and this ensures a healthy business for years, don't you think? It takes 12 positive experiences to make up for one unresolved negative experience. – “Understanding Customers” Ruby Newell-Legner So why not make it the best experience possible? In many of our past articles, we talked a great deal about customer centric service. It is hard to keep a customer, even harder to get a new one. A good service will reduce this number (12 positive experiences) as customers can see and appreciate a genuine effort to make it good for them. Stop and think about the service you are currently providing your clients. What do you see? What do you need to keep doing, stop doing, start doing or change to create a positive experience? News of bad customer service reaches more than twice as many ears as praise for a good service experience. – White House Office of Consumer Affairs Take the time to address unhappy customers and their concerns. Do everything you can to resolve situations. It’s not only worth keeping their business, but also avoiding any negative exposure. Unfortunately, bad news spread fast but there is a way to slow that down. For every customer who bothers to complain, 26 other customers remain silent. – White House Office of Consumer Affairs Customer feedback is gold! Set up internal processes to track this information and see to settle them. Also, do everything you can to make it really easy for the customers to give their opinion and to speak to you about problems they have. It takes time to manage all this information but, eventually, you will benefit from it! Probability of selling to a new prospect = 5-20% Probability of selling to an existing customer = 60-70% – Marketing Metrics What makes this so true, you think? Having the right customer service makes any department part of the Sales Department. Everyone in the organization is selling something; everyone is selling an experience. This will turn into revenue optimization. Not only will you get more from your customers but they will spread the word suggesting to everyone they know to use your services.