Great customer service is important, and even entrepreneurs who don’t provide it understand this fact. Even if your customer service is awesome, though, there is a good chance you may not fully understand its importance. Research indicates that you are four times as likely to lose customers to your competition if problems with service rather than product or price occur. Whether you start responding to online reviews or simply providing better training, offering amazing service is your key to raised revenue.
The majority of people only think of sub sandwich punch cards when they hear about customer loyalty programs. Actually, though, a company owner in just about any industry can easily establish their own loyalty program. This will help keep customers coming back to your business. Even better than that, however, is the fact that they will be enthusiastic to spend more so they can reach their loyalty reward.
Connect with Former Customers
Clients who haven’t made an order in some time are not necessarily former customers. In many cases, they simply haven’t been properly stimulated to come back in. Research has revealed that the likelihood of an existing customer making a purchase is upwards of 70 percent. In contrast, the probability of selling to a new prospect is 20 percent at best. Utilize as many procedures as possible to bring back those who have already made a purchase.
Have Better Customer Service Training
Even if they do not provide it, most budding entrepreneurs understand the worth of great customer service. Those who do provide it, though, probably don’t understand the full scale of how important it is. Statistics show that individuals are four times as likely to go to the competition if their problem is related to service rather than your product or price. From additional training to addressing negative online reviews, do what you can to offer fantastic customer service.
Keeping customers satisfied is necessary for making a successful business. Luckily, customer retention is not an exercise targeted solely on keeping people around. If performed correctly, you will hold onto loyal customers while consistently increasing revenue.
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