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Will You Add? - Customer Service Tips - Is Your Business A Leaky Bucket?
It’s Spring Cleaning Time! The weather is getting warmer and it is time to dig through those closets, garages and storage areas and turn your unused items into cash! Traditionally, this is the busiest time of the year for classified advertising. Motor vehicles and recreational
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 ce
Do you think that there is a big sign that reads, “Freelance Writing Jobs, Apply Within”? There just is not. In fact, you may have a hard time finding writing jobs of any type advertised in any employment magazine or newspaper either. So, how do you find freelance writing jobs
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 cen
If you need to earn some extra cash and are considering a part-time job, these three reasons may get you thinking about starting your own part-time business instead.Items for everyday use become business expenses. Instead of earning a paycheck and not having any deducti
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 ce
May people these days have a problem with mounting debt. The average person is well below the bad credit limit and is in desperate need to fix it.Some people are so desperate to reduce their debt that they are seeking quick and easy ways of repairing their credit.Th
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 ce
Are rumors circulating throughout your workplace that there may be downsizing, a lay-off or merger? Are you scared and don’t know what to do? These 5 tips can help you feel more in control of your financial situation:1. Take a long, hard look at your monthly bills. Are i
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 ce
Want to create print ads that get results? Below are three keys to get you started.1. Write for the eye. Print ads are visual. Therefore, craft ads with the eye in mind.Eyes are kind of picky, though. So, here’s a checklist of what eyes like and don’t like:hirteen 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 help fill the holes in your leaky bucket and lead to a more profitable and successful business.
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