Tuesday, November 13, 2012

Customer Satisfaction

There’s a lot to be said for customer satisfaction. First, a satisfied customer is more likely to refer your services to others. Second, one customer has a circle of influence of up to 250 people (and guess what? Piss one customer off and they will tell 15 of their close friends and those friends will tell 15 of their friends…you get the point).

According to the following statistics, maintaining excellent customer satisfaction this holiday season should be paramount on your list:

  1. By keeping current clients happy, you are saving five times more than trying to gain new business elsewhere.
  2. If you retain 5% of your customers, this will increase the value of an average customer by 25-100%.

  3. In terms of probability, you have a 50% chance of successfully selling to a current customer, but try to sell to a new customer and you have a 6% shot (puts things into perspective doesn’t it?) 

  4. Remember what we keep saying about client referrals? They generate new business at very little or no cost. This happens when your customers are satisfied.
Let’s put it this way, 91% of unsatisfied customers will never purchase from you again. So how do you beat the odds?

One word: surveys!

Surveys are the easiest way to keep track of how your business works. It’s just as important to the well-tenured client as it is for the newbie. So when someone makes a recommendation, lodges a complaint, or simply states “this worked for me,” respond to each issue in a timely fashion and eradicate any negative impressions immediately.

“Statistically, 60% of clients interviewed in person will bring new business to you within 60 days of the actual survey.”

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