Customer Satisfaction is Worthless, Customer Loyalty is Priceless

Why did I choose this resource?

I chose this resource to learn how to improve our client retention rating.

What did you learn from it?

I learned the importance of a loyal customer and how to turn an annual customer into a lifetime one.

Key Knowledge

• The customer is more important than your boss.
• What do customers want?
  • Value
  • Good communication
  • Reliability
  • Assurance
  • Empathy
  • Help from employees with good attitudes
• How do you build customer loyalty?
  • Development founded on:
    • understanding the customer
    • creating memorable impressions
    • living up to your commitments
    • positive surprises never hurt; “wow” moments
• Smaller entrepreneurial companies can thrive by offering exceptional services, which larger companies usually do not offer.
• Being a resource to a customer can result in a sale.
• What causes poor service?
  • Bad training
  • Unhappy employees
  • Management is not in touch with customers
• Angry Customer Statistics
  • 91% who walk away angry will never come back
    • 96% of them will never tell you why
    • 80% will return if their problem is corrected
• When dealing with a customer’s problem,
  • agree with them
  • be empathetic
  • take responsibility for the problem
  • stay engaged
  • solve the problem
• How to Become a Customer Service Success
  • Recognize your customer pays your bills, acknowledge their significance
  • Sustain a positive attitude, smiles are contagious
  • Provide answers to customers concerns quickly
  • Retain customers; their lifetime value is 20 times that of their annual sales.
  • Concentrate on customer loyalty; it is more laborious and expensive to gain a new client than to keep one.
  • The objective is to have a loyal customer, not just a satisfied one.
  • Find out what your customers think about you.
  • Your customer is a walking advertisement; 50 times more influential than advertising.
  • Be a friend and a resource to your customers.
  • Avoid using the word “policy” when trying to help a client
  • Always provide excellent service; customer will have a positive reaction
  • Present solutions, not excuses to your clients
• The customer’s perception is ALWAYS right!
• Sign Language
  • “Welcome” and “Thank You” signs set a positive tone
  • Avoid and “No” signs
  • Encourage all employees to acknowledge a client when they are present
• Training Tips
  • Provide principle behind company policies
  • Enforce practicing good responses to common client issues
  • Share stories on how to create “wow” moments
  • Remind employees when dealing with an angry customer that their anger is not personal
  • Turn negatives into positives

How are you using what you learned?

I am using what I learned to create a customer loyalty plan to increase our customer retainer rate.

Key Changes / Key Actions

• Create a document with common customer concerns and answers to those concerns.
• Ask our 10 best customers why they like dealing with us and create a customer loyalty plan.
• When performing a client satisfaction survey, ask the client what they say about us and why. If negative, address immediately.

Source

• Name : Customer Satisfaction is Worthless, Customer Loyalty is Priceless
• Author : Jeffrey Gitomer
• getAbstract.com: Link to Book