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Member You - Customer Service Tips - Is Your Business A Leaky Bucket?
Artists generally have a disdain for capitalism and especially the bombardment of Corporate Advertising, yet these same artists will use advertising to sell there wares and art. What is most interesting is that the artists often break rules in advertising law, yet they are small
For example, complainers are more likely to do business with that company again compared to non-complainers, and this rate goes to 95 per cent customer retention if the complaint is dealt with quickly.
Everyone makes mistakes, the key is to learn from those mistakes and act on them quickly and you will have even more loyal customers.
Keeping your customers happy wil
Let’s start with what Media Training is not.It’s not spin.Media Training isn’t designed to teach those in the public eye how not to deal with the obvious, avoid blame or dance around difficult truths.What media training DOES do is help level the playing field
But, is your business a leaky bucket?
This is a question I always ask small business owners who attend my marketing seminars.
The reason I ask is because many businesses are so focused on attracting new customers they forget about retaining and providing good customer service to their existing clients.
Many are also unable to quickly identify who their most profitable customers are.
In the leaky bucket example we have two businesses in the same industry. Both businesses attract 10 per cent new customers each year. Not a bad effort considering the increasingly crowded and competitive industry they operate in.
Business number one has a 95 per cent retention rate and 5 per cent slippage, while business number two has a 90 per cent retention rate and 10 per cent loss of customers.
Not bad figures to have, but after 14 years business number one has doubled in size and business number two has stayed the same size.
This business is just treading water because it suffers from a ‘leaky bucket' with too many customers slipping through the holes in the bottom of the bucket.
Much of this is due to poor customer service. And they don't even know it!
For example, the research shows a typical business does not hear from 96 per cent of unhappy customers.
For every complaint there are 26 others with the same problem and the average person with a problem tells 9 or 10 others. Thirteen per cent will tell more than 20 people.
So that is the cold hard reality of poor customer service.
But it is not all bad. If complaints are resolved those people tell 5 people and it is usually a positive message.
For example, complainers are more likely to do business with that company again compared to non-complainers, and this rate goes to 95 per cent customer retention if the complaint is dealt with quickly.
Everyone makes mistakes, the key is to learn from those mistakes and act on them quickly and you will have even more loyal customers.
Keeping your customers happy will
That’s right, a wimp: a poor performing weakling among a group of muscle-builders. Did you slap it together in an attempt to get the Yellow Page rep off your back or was it something that they suggested? How do you know if it is competitive or not? You need to understand these th
In the leaky bucket example we have two businesses in the same industry. Both businesses attract 10 per cent new customers each year. Not a bad effort considering the increasingly crowded and competitive industry they operate in.
Business number one has a 95 per cent retention rate and 5 per cent slippage, while business number two has a 90 per cent retention rate and 10 per cent loss of customers.
Not bad figures to have, but after 14 years business number one has doubled in size and business number two has stayed the same size.
This business is just treading water because it suffers from a ‘leaky bucket' with too many customers slipping through the holes in the bottom of the bucket.
Much of this is due to poor customer service. And they don't even know it!
For example, the research shows a typical business does not hear from 96 per cent of unhappy customers.
For every complaint there are 26 others with the same problem and the average person with a problem tells 9 or 10 others. Thirteen per cent will tell more than 20 people.
So that is the cold hard reality of poor customer service.
But it is not all bad. If complaints are resolved those people tell 5 people and it is usually a positive message.
For example, complainers are more likely to do business with that company again compared to non-complainers, and this rate goes to 95 per cent customer retention if the complaint is dealt with quickly.
Everyone makes mistakes, the key is to learn from those mistakes and act on them quickly and you will have even more loyal customers.
Keeping your customers happy wil
Have you ever found yourself wondering if you are in the right job? Or if there is some other job out there that might be a better fit? To find out take our quiz.The alarm goes off on Monday morning. . .A. You leap out of bed! Because Monday is your favorite day!<
Not bad figures to have, but after 14 years business number one has doubled in size and business number two has stayed the same size.
This business is just treading water because it suffers from a ‘leaky bucket' with too many customers slipping through the holes in the bottom of the bucket.
Much of this is due to poor customer service. And they don't even know it!
For example, the research shows a typical business does not hear from 96 per cent of unhappy customers.
For every complaint there are 26 others with the same problem and the average person with a problem tells 9 or 10 others. Thirteen per cent will tell more than 20 people.
So that is the cold hard reality of poor customer service.
But it is not all bad. If complaints are resolved those people tell 5 people and it is usually a positive message.
For example, complainers are more likely to do business with that company again compared to non-complainers, and this rate goes to 95 per cent customer retention if the complaint is dealt with quickly.
Everyone makes mistakes, the key is to learn from those mistakes and act on them quickly and you will have even more loyal customers.
Keeping your customers happy wil
Whenever I hear the words “job satisfaction,” I think of the Country-Western singer/songwriter Roger Miller and his song Kansas City Star.As with all good Country-Western tunes there is a simple tune and a simple story involved with the song. The song starts off telling ab
For example, the research shows a typical business does not hear from 96 per cent of unhappy customers.
For every complaint there are 26 others with the same problem and the average person with a problem tells 9 or 10 others. Thirteen per cent will tell more than 20 people.
So that is the cold hard reality of poor customer service.
But it is not all bad. If complaints are resolved those people tell 5 people and it is usually a positive message.
For example, complainers are more likely to do business with that company again compared to non-complainers, and this rate goes to 95 per cent customer retention if the complaint is dealt with quickly.
Everyone makes mistakes, the key is to learn from those mistakes and act on them quickly and you will have even more loyal customers.
Keeping your customers happy wil
You can never underestimate the power of networking. Often success is directly proportional to the size of the social circle. Whether you are looking for an entry level job or wanting to climb the career ladder you will need some kind of networking savvy in order to survive in
For example, complainers are more likely to do business with that company again compared to non-complainers, and this rate goes to 95 per cent customer retention if the complaint is dealt with quickly.
Everyone makes mistakes, the key is to learn from those mistakes and act on them quickly and you will have even more loyal customers.
Keeping your customers happy will help fill the holes in your leaky bucket and lead to a more profitable and successful business.
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