Business Information SheetBusiness Information SheetTreat Customer Service as a Worthwhile Investment
Money spent on retaining existing customers through improving customer service is cheap when compared with the cost of getting a new customer, and even more so compared to cost of losing a customer.
The realisation of how much existing customers can spend in your business in the future, makes deciding to invest in increasing customer satisfaction, far easier.
By developing a customer focus, you create a bond that keeps customers coming back again and again.
Think of it this way, how often do you go to a particular store, because they are focused on meeting your needs. Often we return to these stores without even giving a consideration to the price, because we know, "they always look after me".
Even a corner store, selling a few essential items to customers can gain from looking at the lifetime value of customers. Statistics show that the average lifetime of a customer is ten years. After this time people often move suburb or city. So do the math, a customer spending even $5 per day with you four days per week, 50 weeks per year, for ten years. This is the dollar figure that this customer is worth every time they come into the store.
Customers are fickle - they will change their shopping habits if they feel they are treat more favourably elsewhere.
To find out more about building business income through creating customer focus, contact PlusOne Marketing to inquire about the 'Customer Focus - Don't leave home without it', training program. Phone 0409 349 752
Copyright 1997 Plusone Marketing http://www.plusone.com.au
Matt Eliason operates a range of successful on-line businesses - see our home page , is past National Marketing Manager for a company involved in the rural sector and now runs his own marketing consultancy firm. For more information on this topic, or to enquire about marketing assistance for your business please email or ring on 07 46301 511
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