1. It’s cheaper
Many companies spend a lot of time and money in getting customers (acquisition) but not all companies know how to keep customers (retention) and keep them happy. It cost far less to keep a happy customer than to find a new one. Increasing customer retention rates by 5% increases profits by 25% to 95%, according to research done by Frederick Reichheld of Bain & Company.
2. It’s easy
Providing a customer with great service is not at hard as you think. It is often the ‘little things’ that matter. Think about things like replying to an email promptly and provide the correct advice, pick up the phone to say thank you in person for being a loyal customer or return their phone calls promptly and keep your customers up to date with changes in your business that they may benefit from or add value to them.
3. It reflects a good business model
Those organisations that have a good customer retention rate often offer one common denominator – great customer service. The first thing organisations need to do is look within. Engaged and enthusiastic staff that is knowledgeable across all your products and services is your biggest asset. This attention to service reflects an engagement culture that will result in increased performance and productivity across the business.
Our 1 day ‘Keeping Happy Customers’ workshop is designed for anyone who has a direct impact on how customer services are delivered and who can implement change in their business. It includes: