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18
Mar

Losing and Keeping Customers

It’s always worthwhile to take a closer look at statistics, and see what they actually mean. Consider the following statistical tidbits (both from McKinsey): An average company loses between 10 – 30% of its customers annually, and Only 12% of current marketing spend is on customer retention. It would be easy to look at those …

12
Mar

Hidden Treasure Right in Front of You

What would you do if you found out that you had a hidden stockroom full of valuable merchandise, packed away in crates, uninventoried, non-priced, uninspected, and unsold – just stuck away in a corner, unnoticed by management a floor staff alike? Wouldn’t you want to at least take a look at it, to find out …

7
Mar

Who Should I be Surveying

When you do a survey for customer satisfaction, should you have a target market? Should you aim your survey at everyone, or is that too inefficient? If you narrow your survey down to specific groups of customers, how do you know whether you’re targeting the right ones? The best way to look at these questions …

5
Mar

Cutting Back in Order to Save Costs

“Cost-effective” – what does that term really mean in the sort of business where customer service is a major factor? For example, what about cutting back on services in order to save costs? We’ve all had experience with businesses that have done that, and may business owners have felt tempted – if not pressured – …

3
Mar

The Worst Customer Service in 2013

Despite strong gains in customer satisfaction in recent years, many traditional retailers’ scores remain below the average for their sector. In particular, some of the nation’s largest retailers had among the lowest scores. Based on ACSI data, 24/7 Wall St. examined the companies with the worst satisfaction scores in retail. To identify the 10 retailers …

28
Feb

Driving Sales Growth

Read this very interesting case study on proving the ROI of customer accountability in action; by focused surveys > feedback to managers > real-time alerting > follow-up. By gathering rich customer information, creating a disciplined follow-up program, and documenting results, Walker helped this Fortune 500 global manufacturer in the self-service industry, generate a forecasted return …

25
Feb

Lost Customers Are Expensive

It’s always worthwhile to take a closer look at statistics, and see what they actually mean. Consider the following statistical tidbits (both from McKinsey): An average company loses between 10 – 30% of its customers annually, and Only 12% of current marketing spend is on customer retention. It would be easy to look at those …

20
Feb

1st impressions often based on phone interactions

For many businesses, the first, and often the only impression their customers have of the business is the one generated by the people they talk to on the telephone. Here are some of the most common customer frustrations and some quick tips on how to improve customer satisfaction while dealing with your staff & customers …

18
Feb

Loyal Customers Have The Added Value of 10 Sales

What is the value of a happy customer? Is that something that can even be measured, let alone easily? Perhaps the best way to measure the value of customer happiness is by understanding how happy customers actually behave. If all they do is smile when they’re standing in the checkout line, that still has some …

13
Feb

Customer Retention – Increasing Profits

Statistics from NOP indicate that a 25-85% gain in profits from reducing customer defections, but that in a remarkable 73% of the cases studied, businesses didn’t even try to keep dissatisfied customers, in spite of the fact that 35% of those customers said they would have stayed if they’d just received a simple apology. Consider …