Carpe (The Customer Service) Diem!
“Just a 5% increase in customer retention, can boost profits by as much as 125%
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PrintMany years ago two salesmen were sent by a British shoe manufacturer to
The first salesman wired back, "There is no potential here - nobody wears shoes."
The second salesman wired back, "There is massive potential here - nobody wears shoes."
Does your organization view your customer service strategy as a necessary evil, or as an opportunity to gain feedback from your customers?
If your organization doesn’t view customer service as an opportunity, I challenge you to gather the facts and approach senior managers with the idea of increasing retention by improving customer service.
According to Fred Reichheld, of Bain & Co., it’s 7-8 time less expensive to retain customers than it is to acquire them. In another study he stated, “Just a 5% increase in customer retention, can boost profits by as much as 125%.”
If the only thing holding your organization back is your senior managers’ attitude which has manifested itself in a faulty customer service strategy, then assemble your facts, build a case, and seize the day!
Pick your favorite customer service role model. Is it Ritz-Carlton, where even the maids are empowered to close out customer complaints? Challenge your bosses to make your organization the Ritz-Carlton of your industry!
Now, stop reading this and start creating a plan.
Regards,
Glenn
PS: Special shout out to Mary Schmidt, whose post, Cutting The (TV) Cord, inspired this one.
PPS: Carpe Twitter! I’m txglennross.
What! You're still reading? Get off your butt and JUST DO IT!
