This is the continuation of part 1 on Building Customer Relationships. We previously mentioned that the customer climate relationship model will classify customers into 4 groups:
1: The dissatisfied customer: employees will make efforts to save the customer and address their issued so that they do not leave the company.
2: Customer is in the transactional stage: they are happy with the company but are not necessarily completely loyal to the company. They can shop with competitors anytime.
3: Customer is predisposed to the company: they are loyal to the company but can also consider shopping with competitors occasionally.
4: Customer is completely loyal to the company: these customers are loyal to the company and will rarely if ever shop elsewhere.
With this information a company can work on their own customer service best practices by building relationships with customers and nurturing established ones. By using the right methods for each of these categories of customers, better relations with them will be developed and more sales and profits will be made. This will not only be for individual customers but extend into relationships with business partners. Good relationships with partners will strengthen the company and encourage long term relationships and increased sales.
The sales force is also deeply involved in the customer climate relationship. They are in direct contact with the customer and it is important that they understand the different levels of customer relations. Measuring customer satisfaction will need to be developed so that you can solve customer relationship problems and maintain customer loyalty and retention with buyers.
With the ASK LISTEN RETAIN process, companies were able to gather information about customer behavior using the 4 levels mentioned above. This in turn allowed them to work out methods to improve the sales force’s relationships with the customer and increase sales and profits. The cost of a sale will also reduce as there will be more successful proposals and not be so much wasted time and money on unsuccessful ones.
Training management and sales people on building customer loyalty means that there is an increase in retaining accounts. Given the 80/20 rule, that your loyal customers are responsible for 80% of your profits this translates into substantial increases in company profits.
If you would like to know more about how the ASK LISTEN RETAIN System or how it can help create customer retention and loyalty, please contact us.