Let’s keep those customers
As customers begin to experience a better service their expectations rise. Furthermore, the service experienced is transferable in the mind of the customer. The customer makes conscious and unconscious comparisons between different service experiences – irrespective of industry sector. Customers’ expectation, for example, of the service experience they will receive from a call center may be based not only on their expectation and experience of the service itself but also experiences that may have had with other call center companies and organizations.
A company’s ability to attract and retain new customers therefore is a function not only of its product or product offering but also the way it services its existing customers and the reputation it creates within and across market places.
Many organizations, however, overlook the potential of existing customers to develop their business. Customers’ relationships with the business can be depicted in terms of a loyalty ladder. The loyalty ladder consist of one-off purchasers, the occasional users, the regular customers and advocates. The more advocates you have, the better your retention rates and long-term profitability.
Reasons for developing long-term relationships with customers On average it is estimated to cost five times as much to attract a new customer as it does to keep an old one. Long-term relationships with customers are therefore more profitable.
The cost of acquiring new customers can be high and loyal customers tend to spend more and cost less to serve.
Satisfied customers are likely to recommend your products and services.
Advocates of a company are more likely to pay premium prices to a supplier they know and trust.
Most important is retaining existing customers prevents competitors from gaining market share. the end result therefore is repeat purchase, enhanced reputation and recommendation.
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Posted on September 6, 2012, in Business, Call Center, Customer Service, outsourcing and tagged business, business tips, Call Center, customer, Customer Service, outsourcing, sales. Bookmark the permalink. Leave a comment.