Restaurants Need to Double-Down on Customer Loyalty in Q4



Restaurants need to strategize intensely on customer loyalty if they want to avert a massive decline in revenue in Q4. Why?

Revenue for restaurants have been plummeting after Thanksgiving – as much as 45 percent, according to a 2014 study.

“With all the excitement about Black Friday and Cyber Monday, it’s easy to assume that everyone wins during the holidays – but these can be lean times for most restaurants,” said Zach Goldstein CEO and founder of Thanx.

“In our experience, restaurants that successfully combat the downturn focus on retaining existing customers,” he added.

eventfile000213537000Retailers

Yes, the restaurant business is such a stark contrast with retailers.

Retailers can enjoy as much as a 77 percent increase in revenue after Thanksgiving says a press release from the Thanx, Inc. (www.thanx.com), the company conducting the study.

Thanx cites Q4 monthly sales increases in data about retailers from the U.S. Census Bureau:

— Furniture retailers (24 percent)

— Merchandise (47 percent)

— Electronics (67 percent)

— Clothing (72 percent)

— Sporting goods (77 percent)

In addition, retailers are capitalizing on in-store WIFI to increase customer loyalty. Another study by Earthlink, IHL Group and AirTight Networks reveals that 27.5 percent of retailers have increased  customer loyalty by using in-store customer WiFi.

Restaurants

In December, Thanx says all restaurants – fast serve, fast casual and fine dining – suffer a 27 percent decline. Restaurants can suffer a 45 percent decrease when expanded the duration by a week just after Thanksgiving.

Thanx advocates identifying VIP customers and rewarding them if they patronize a restaurant with a gift, such as a wrapped gift of pre-packaged salad dressing.

In a case study of a Thanx client, Mixt Greens, patrons loved it. They visited Mixt Greens multiple times in the otherwise slow period.

“Through Thanx, we’ve made sure customers know how much we value their business and we can stay busy during what’s traditionally a slow period,” said David Silverglide, CEO of Mixt Greens. “By saying ‘Thanx’ to our customers, we’ve seen a 34 percent increase in frequency of customer visits.”

In 2015, Mixt Greens plans a “Eat Healthy This Holiday Season.” That includes a five 50 percent discount on salads in 2015 to customers who make five purchases between Thanksgiving and December 31st.

Just like the core Thanx program, qualifying purchases register automatically when consumers pay with their preferred payment card, thus requiring no added steps at checkout.

From the Coach’s Corner, here are related strategies for enhanced customer loyalty and repeat business:

Restaurants Benefit by Seasoning Their Customer Loyalty Programs – With only 33 percent of patrons who are loyal customers, restaurants need to add seasoning to their customer-loyalty programs, according to a Deloitte Consulting study.

Tips for Restaurant Owners: Keeping Good Employees, Profits – If you, as a restaurant owner, have trouble keeping talented employees, consider insights from a report on a Sacramento, California TV station. It will also help you increase profits and stay in business.

Groupon Will Give You a Migraine for Ignoring Pricing Principles – Whether you’re an investor, small-business advertiser or even a customer, daily deal sites can give you a major headache. Continually, there are red flags about Groupon.

Why Companies Are High Maintenance to Customers (but Don’t Know It) — Businesses are losing more than they know because they inconvenience customers. Such negative customer perceptions result in lost opportunities in revenue growth, tarnished branding and smaller profit margins, according to a study.

How to Profit from Word-of-Mouth Advertising and Customer Service – When was the last time you explored options for improving your word-of-mouth opportunities? Here’s a hint: Customer service is the No. 1 key to good word-of-mouth advertising and repeat business. My firm’s research shows that consumers usually respond favorably to marketing after receiving five positive messages. Conversely, they will divorce your company if they have five or fewer unfavorable experiences.

The golden rule for every business man is this: ‘Put yourself in your customer’s place.’”

-Orison Swett Marden

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Author Terry Corbell has written innumerable online business-enhancement articles, and is a business-performance consultant and profit professional. Click here to see his management services. For a complimentary chat about your business situation or to schedule him as a speaker, consultant or author, please contact Terry.

Customer Loyalty Issues — Lessons from Technology Companies



In B2B, many companies make the mistake of focusing on developing new business when they should focus more on customer retention programs. A case-in-point is the technology sector.

In its “2013 Customer Loyalty Survey,” ServiceSource (www.servicesource.com) reveals that technology vendors — hardware and software — are blowing revenue opportunities because they drop the ball in customer relationships.

entrepreneur-593358_1280ServiceSource polled 200 IT decision-makers about their relationship with hardware and software vendors.

Less than 18 percent of respondents were content with their IT providers.

Fifty-two percent indicated they would start shopping around.

Sixty-six percent said their relationships with vendors were “complicated” — meaning they were dissatisfied.

“It’s no wonder that customer churn is top of mind for every company,” said Christine Heckart, executive vice president of marketing, Strategy, people and systems at ServiceSource.

“As businesses focus more and more on recurring revenue, they can’t afford to win customers just once and expect fidelity for life,” she added. “They need to win them over and over again.”

Most IT departments feel neglected and ignored, with 57 percent of respondents only hearing from their vendors at renewal time, if at all, according to ServiceSource.

Other key findings:

– 52 percent of respondents received calls or emails from their vendors’ competitors at least once per month.

– 42 percent take sales calls from their vendors’ competitors at least once per quarter; 20 percent take them at least once per month.

– More than 25 percent of respondents participate in competitor webcasts every quarter, with 69 percent at least once a year.

– 49 percent have used competitive intelligence from a sales meeting to renegotiate a current contract.

– 65 percent of on-premise software respondents view SaaS as a potential suitor to replace existing systems.

– Of those with a preference, respondents were twice as satisfied with their hardware vendors as their software vendors, indicating that loyalty is harder to maintain as you move up the technology stack.

“As businesses focus more and more on recurring revenue, they can’t afford to win customers just once and expect fidelity for life. They need to win them over and over again.”

Ms. Heckart maintains the technology companies’ failure to be attentive to their customers costs them billions in potential revenue.

“This outdated approach results in businesses leaving significant revenue on the table,” she asserted.

“In fact, most companies make the majority of profits from the customers they’ve already won,” she added. “This is a major mindset shift and requires new thinking, tools, and focus.”

Amen.

From the Coach’s Corner, for better customer loyalty and revenue, here are valuable tips:

Strategies for Maximum Customer Loyalty, Profits — Customer retention is important for profits in good times and bad. Here are customer-retention tips, and social-networking tips from a B2B sales pro.

Energize Your Customer-Loyalty Program with 6 Steps — The quickest way for established businesses to optimize revenue is to have a stellar customer-loyalty program — there are six steps you can take for repeat sales and referrals. If you’re not a great steward of your current book of business, it’s futile to look for new customers. 

Internet Shoppers Demand 3 Cs – Customer Experience Study — Success in e-commerce is increasingly challenging for retailers that want to dominate in brand preference, customer loyalty and word-of-mouth advertising. That’s because consumers want more and more in the three Cs — channels, choices and convenience.

Why Companies Are High Maintenance to Customers (but Don’t Know It) — Businesses are losing more than they know because they inconvenience customers. Such negative customer perceptions result in lost opportunities in revenue growth, tarnished branding and smaller profit margins, according to a study.

Why Your Customers Stay or Leave – Insights from Study — Despite all the emphasis on speed in customer service, it’s not the salient factor in keeping customers happy. A study confirms that the power of emotion is most important, according to a January 2013 published report in QSRweb.com.

“The purpose of a business is to create a customer.”

Peter Drucker


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Author Terry Corbell has written innumerable online business-enhancement articles, and is a business-performance consultant and profit professional. Click here to see his management services. For a complimentary chat about your business situation or to schedule him as a speaker, consultant or author, please contact Terry.






Insights – Why Marketers Should Show Moderation in Digital Communication



Businesses will decrease their chances for customer loyalty and repeat business if they don’t act with more self-control in digital marketing, according to a study.

Consumers have become more and more discerning.

“The possibilities for the future of customer loyalty are profound.” said Martin Hayward, vice president of global digital strategy at Aimia and the author of the study. “The real challenge for the marketing and loyalty industries is to embrace the digital transition with both hands while showing enough restraint and respect for consumers’ permissions and preferences.”

Aimia, a global leader in loyalty management, released the study, “The Four Futures,” in June 2013.

Results indicate “offer anarchy” is a very real threat to relationships with half of consumers feeling overwhelmed.

Mr. Hayward said the 86 percent of consumers who receive marketing emails, only 12 percent look forward to receiving them and 46 percent think they receive too many.

Ironically, targeted marketing communications are acceptable. Of those surveyed, 70 percent are happy to receive voucher offers for products purchased regularly.

Fifty-five percent are happy to receive product recommendations based on their lifestyle data.

Marketing desperation

But the study warns marketers to avoid the temptation to adopt a short-term approach and overload consumers with communications.

“Building ‘real relationships’ with consumers provides the key to success and enlightened companies that understand how to effectively and responsibly use new data and new channels in the right way will have a significant competitive advantage in the future,” added Mr. Hayward.

To help marketers navigate the digital transition, Aimia has assessed the possible outcomes that lie ahead and developed four futures:

Future 1: Offer anarchy
The increasing volume of customer data created by digitalization remains freely available and loosely controlled. Customers tend to be over-exploited by many vendors, leading to highly transactional, deal-based behaviors, limited loyalty and frustrated, over-messaged consumers.

Future 2: Pay to play
A market where data is increasingly acknowledged to be valuable and powerful – data begins to be controlled and traded as a valued commodity, requiring businesses to pay to access customers through increased rewards.

Future 3: The hunt for affinity
An environment where consumers and brands realize that it is possible to locate meaningful relationships that offer more relevance, value and affinity, which ultimately allows for long-term relationships to be built.

Future 4: Real relationships
Winning companies build deep, trusting, long-term relationships with customers – a truly virtuous partnership to help consumers manage a complex environment and achieve value and satisfaction from their commercial relationships.

Mr. Hayward says the ultimate future requires marketers to leverage data and build long-term customer loyalty while giving customers control over how, when and where their data is used. It is a future of “real relationships” and one where everyone wins.

See the full report here.

From the Coach’s Corner, see these related articles:

A Lesson in Great E-mail Marketing Using Social Media, VideosDog lovers would love a promotion by Orvis. Actually, you don’t have to own a dog to appreciate the digital marketing by the firm. Orvis is a nationwide high-end purveyor of men’s and women’s clothing, products for the home and travel, and of course you can buy gifts for your dog. 

Marketing – Have You Considered the Potential of e-Newsletters?There are several benefits if you include e-Newsletters in your marketing mix. The most salient is that they’re a great way to achieve top-of-mind awareness with your customers. Further, as a form of content marketing, they’re a favorite of B2B marketers.

14 Steps to Profit from Online Customer Reviews — For competitiveness and profits, businesses can’t afford to ignore the potential of online reviews. They’re a factor in revolutionizing commerce. Reviews are important because they influence prospective customers to buy from you. They’re also beneficial in improving your Internet presence because search-engine crawlers consider them to be relevant.

“What happens when you combine blogs, Google and millions of dissatisfied customers? An e-mob.

-Bob Garfield

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Author Terry Corbell has written innumerable online business-enhancement articles, and is a business-performance consultant and profit professional. Click here to see his management services. For a complimentary chat about your business situation or to schedule him as a speaker, consultant or author, please contact Terry.

 Image Credit: Discerning woman consumer by Vera Kratochvil


Want More Business? Build Trust with Consumers…Here’s How



With consumers trying to cope with information overload – you will increase B2C sales with long-term customer loyalty – if you build trust by using best practices.

It may be an obvious approach, but it’s confirmed by a 2012 study that shows 84 percent of the respondents declared trust must be warranted before they buy.

The essential elements for trust and best practices are contained in the study, “The Trust Factor,” by About.com.

ID-100117052 stockimages“By understanding how consumers view trust and what they value most, marketers can tailor their outreach to deliver meaningful information and tools to create authentic, long-lasting relationships,” wrote Laura Salant, director of research at About.com.

Key elements for trust-building

— Expertise

— Fairness

— Relevance

— Choice

— Relatability

— Awareness

“With the high volume of information at consumers’ fingertips, not only is trust a valuable filter, it is a prerequisite for consumers to even enter the purchase funnel,” said Ms. Salant. “By understanding how consumers view trust and what they value most, marketers can tailor their outreach to deliver meaningful information and tools to create authentic, long-lasting relationships.”

Recommended tools

— Respondents reported that all 10 trust elements are even more important on mobile than online. Format was identified by 71 percent of respondents as being more important for mobile, with accuracy and expertise also ranking highly.

— In social media, consumers are ambivalent about the value of certain commonly-used social actions such as “likes.” Reviews were identified as inspiring trust twice as much as general “likes,” though seeing a “like” or recommendation from a friend increased the trust value of that action.

— Video works best to enhance trust when it is combined with other types of content. Fifty-six percent of respondents agreed that video builds trust when it adds illustration or explanation attached to other types of content.

The study reveals the importance of networking sources of trust: 82 percent “use information from brands, content, ads and social media to create custom solutions for what they need.”

It’s recommended that brands “treat consumers as partners, not customers.

“Whoever is careless with the truth in small matters cannot be trusted with important matters.”

-Albert Einstein

Suggested best practices:

— Acknowledge and respect consumers’ processes for evaluating and making decisions. Eighty-five percent trust brands that walk them through multiple paths to decisions, rather than just giving an answer.

— Support consumers after they purchase. The relationship shouldn’t end with a credit card.Sixty-two percent of consumers trust brands that provide information and tools to help them use products they have purchased.

— Demonstrate an understanding that consumers’ lives change.Eighty-three percent trust brands that offer resources every step of the way, as a consumer’s needs evolve.

— Build engagement by using every opportunity to solve consumers’ large and small challenges.Eighty-five percent trust brands that use ads or sponsored content to inform or help them with a need.

From the Coach’s Corner, related reading:

Think 1930s for Business Success. Consumer Attitudes are Changing. — Whether you’re a new or established business, it wasn’t that long ago that a strong Internet presence meant having a great Web site with a top ranking. Partially, that’s still true but the competitive marketplace continues to rapidly change daily, which means the No. 1 objective should be a vibrant, integrated presence. That is, unless you’re in a very narrow niche, what matters most is your total Web image – your Web site is merely an important secondary consideration.

B2B Telemarketing: Building Trust Should Be Your Goal…Here’s How — Telemarketing is, of course, a challenge. You must create a favorable first impression in your initial approach. This means building trust should be your primary goal. Sure, it’s a nerve-wracking process, especially because you have just a few fleeting moments to engage your prospects. Yes, you’re calling to make sales. Again, you’ll greatly enhance your chances if you focus on building trust.

Profits: Size Doesn’t Matter but Image, Professionalism Count — Appearances and professionalism can make your small business seem huge. If you look as though you’re substantial and that you can handle anything thrown your way – your odds for success improve dramatically. That’s especially true in this economy. Clients and customers will often prefer dealing with you as a small firm – if the job doesn’t appear too big for you to handle. So it’s best to look the part.

The Key to Internet Dominance: Think Integration — Whether you’re a new or established business, it wasn’t that long ago that a strong Internet presence meant having a great Web site with a top ranking. Partially, that’s still true but the competitive marketplace continues to rapidly change daily, which means the No. 1 objective should be a vibrant, integrated presence. That is, unless you’re in a very narrow niche, what matters most is your total Web image – your Web site is merely an important secondary consideration.

Sales, Networking Strategies to Build Strong Relationships — Sometimes, we have to visit our past as lessons for our business future. Is it your experience, too? When doing some cleaning, I came across some treasures from my high school years. That included a carbon copy of a thank you letter I wrote to the publisher of The Desert Sun newspaper in Palm Springs.

“Suppliers and especially manufacturers have market power because they have information about a product or a service that the customer does not and cannot have, and does not need if he can trust the brand. This explains the profitability of brands.

Peter Drucker


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Author Terry Corbell has written innumerable online business-enhancement articles, and is a business-performance consultant and profit professional. Click here to see his management services. For a complimentary chat about your business situation or to schedule him as a speaker, consultant or author, please contact Terry. 





Photo courtesy of stockimages at www.freedigitalphotos.net

Profits: How to Save on Sales Opportunity Costs



If your sales efforts aren’t leading to your desired clients, here are a couple of questions:

— How many times have you been burdened by so-called prospective customers who waste your time without buying?

— How many times has a business or government agency asked for information on projects but used your ideas without paying you?

Ouch. That’s a waste of time and other resources.

Candidly, there are four plausible reasons why people don’t buy from you:

1. You haven’t done a good enough job selling your company.

2. You’re dealing with habitual tire-kickers.

3. You’re trying to sell to customers who are too price-conscious and are not value-minded.

4. You’re dealing with parasites or thieves who will try to replicate your ideas without paying you.

The latter is infuriating, but don’t get angry. It’s usually a waste of time and energy, and often creates negative PR images.

So remember to assess your role and processes, and make the necessary improvements.

How to save on sales opportunity costs:

1. Review your branding and marketing. A strong marketing program will prevent such problems by pre-selling your products and services, and will minimize the footwork required to close sales.

Use cost-effective marketing tools for growth.

Use due diligence to get top results from from your marketing plan

2. Distribute informative sales collateral and upgrade your Web site – pique the visitors’ interest — without divulging too much information.

3. Improve your customer service and sales processes. Make sure that you and members of your team are using the techniques.

Basically, this means remembering when and how to use the following:

— empathy

— incisively qualifying and researching your prospects

— asking the right questions

— listening

— providing strong value propositions

— showing an attitude of enthusiasm coupled with gratitude

— preventing buyers’ remorse

— providing added value whenever possible

Always be prepared to engage customers with a great elevator pitch.

4. Become a better student of human nature. Remember the basic law in economics 101 – know when to cut your losses. On the other hand, understand when it’s important to persevere and not give up prematurely for higher sales.

5. Maintain your mental acuity and balance when dealing with prospects. Don’t be desperate to make a sale to a prestigious-looking customer or company.

Don’t allow them to use you or your intellectual property. Take every precaution for successful negotiations.

As a prospect deliberates, keep moving and prospecting. Don’t spend your profits before the customer buys, and remember the adage: “A sale ain’t a sale until the money is in the cash register.”

6. Be loyal to customers who are good to you. This will make you feel better and you’ll enhance your odds for repeat business, which will also cut your sales opportunity costs.

Remember the essence of productive selling and you’ll save on sales opportunity costs. It’s all about wisdom in creating a happy buying environment and developing relationships.

From the Coach’s Corner, if you’re a small company, here are the 11 sales strategies to outsell your big competitors.

“When dealing with people, remember you are not dealing with creatures of logic, but creatures of emotion.”

-Dale Carnegie


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Author Terry Corbell has written innumerable online business-enhancement articles, and is a business-performance consultant and profit professional. Click here to see his management services. For a complimentary chat about your business situation or to schedule him as a speaker, consultant or author, please contact Terry.





Photo courtesy of twobee at www.freedigitalphotos.net

Invigorate Sales with 11 Customer Retention, Referral Tips



First and foremost, if customer loyalty is not paramount at your company it should be. Businesses lose business 70 percent of the time because customers feel taken for granted.

In this digital age with a heavy reliance on social media, the Internet is indeed important. But the No. 1 reason – at least 52 percent of the decision-making process – why people buy a product or service — is what customers think of a company’s spokesperson and sales reps.

Yes, the quality of the product is important, but for customers to really feel like they’re making a smart buying decision, they want a good rapport and to feel appreciated.

Sexy ModelThat’s the best way to turn customers into brand evangelists, especially women, who make the majority of buying decisions in a family.

It’s also true that sales and networking strategies build strong relationships.

Here are 11 customer retention and referral strategies:

1. Like a marriage, to enhance any business relationship, it helps to listen during 80-90 percent of conversations.

Women, especially, prefer salespeople who listen to their concerns.

Typically, women make 80 percent of all household-buying decisions.

In my two+ decades of human-resources training, the No. 1 complaint women have about men is that “they don’t listen.”

2. Create an interactive dialogue and invite feedback.

3. Provide the best service.

4. Don’t get defensive in the face of criticism even when the customer is wrong – simply take notes and use basic assertive techniques.

5. Be careful in all negotiations. Use the 22 dos and don’ts for successful negotiations.

Yes, the quality of the product is important, but for customers to really feel like they’re making a smart buying decision, they want a good rapport and to feel appreciated.

6. Upon receiving a compliment from a customer, ask for two referrals – the names and contact information of “two people just like you who this need great product, too.”

7. Provide added value without hurting the bottom-line.

8. Prevent buyer’s remorse by reminding the customer of the value of the purchase.

9. Say and write the magic words, thank you, at every opportunity.

10. Depending on the level of purchases, make personal contact a priority.

11. Never assume customers are forever. Remind them in subtle ways why it’s beneficial to do business with you. (See the top 11 tips for a great elevator pitch and the seven steps to higher sales.)

So if you’re losing customers, improve your odds with excellent customer-retention and referral strategies.

From the Coach’s Corner, here’s related information:

How to Best Profit: Word-of-Mouth Advertising, Customer ServiceWhen was the last time you explored options for improving your word-of-mouth opportunities? Here’s a hint: Customer service is the No. 1 key to good word-of-mouth advertising and repeat business. Here 10 tips.

11 Sales Strategies to Outsell Your Big CompetitorsBig companies have obvious advantages over small businesses. Their brands are well-known. They can afford sales training, sales-support staff and customer-relationship management software. On the other hand, there are good reasons why Cyber Monday has become big. Yes, many online customers do it to save money on sales taxes.

The Lost Art – How and Why to Use Cold-Calling for Higher SalesAre you lacking in sales? Do you get enough face time with the right prospects? Here’s how and why in-person cold calls will help you make sales.

8 Tips for Cold Calling By E-mail and TelephoneSince the advent of the digital age, cold calling went out of vogue. But in the lingering downturn – whether you’re in advertising or staffing services – cold calling has become the logical tool to use to generate clients or business customers.

Want More Revenue? Avoid the 7 Deadly Sins of Selling — Whether you are an established company or a startup, what you probably need most in this economic climate is a positive revenue stream. It’s possible with a higher-performing sales staff.

“Quality in a service or product is not what you put into it. It is what the client or customer gets out of it.”

-Peter Drucker


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Author Terry Corbell has written innumerable online business-enhancement articles, and is a business-performance consultant and profit professional. Click here to see his management services. For a complimentary chat about your business situation or to schedule him as a speaker, consultant or author, please contact Terry.




Strategies for Maximum Customer Loyalty, Profits



A major factor affecting profits is customer retention. Profits tend to be elusive without consistent customer loyalty.

If you don’t have sufficient numbers of loyal customers, it’s important to do a profit analysis to determine your strengths, weaknesses, opportunities and threats.

Then develop a strategic action plan and implement it.

Bear in mind American businesspeople and consumers have increasingly become cost-conscious and look for opportunities to save money.

ID-100117052 stockimagesThis trend has prompted many companies to slash prices and to make the mistake of focusing on price in their sales messages.

That means your customers are constantly hit with discount offers.

And they are tempted to change to your competitors because of price, quality and service.

But it isn’t a permanent switch. Such customers will then gravitate to the next low-ball offer.

So advertising to target such low-balling customers is simply not cost-effective.

I’m referring to customers base their decisions on price, only. They constitute 18 percent of buyers.

Therefore, it’s key to target the other 82 percent who can be persuaded to buy based on their five perceptions about value.

My research also shows that you have to reach a prospect with five positive messages before the decision is made to buy your product or service.

Why companies lose customers

When devoutly loyal customers shop elsewhere, 70 percent of the time they feel taken for granted.

Customers will leave you for a myriad of reasons, including failure to properly answer questions, treating them abruptly, making the buying process inconvenient, failure to solve problems quickly and subsequently failing to provide added value to assuage an unhappy customer.

Losing customers also means blown opportunities for word-of-mouth advertising and customer referrals. Plus, social networking and blogs – positive and negative – have changed the marketplace even more.

That’s why listening to customers is so vital – to gather information, to analyze it, and to develop answers.

In large cities, the advertising opportunity costs are high – usually $300 to $400 or more per customer.

If you lose a customer, it will cost you more to attract a replacement. Then, you have to factor in the sales curve – how long it takes for a new customer to become profitable.

So profits suffer in a down economy if you lose customers and can’t easily replace them. That means layoffs, which will hurt you even more.

Fifty-two percent of a customer’s value-perceptions motivating them to buy from you hinges directly on what they think about your people – spokespersons, sales reps and other personnel. (For more on value perceptions, see “The 7 Steps to Higher Sales.”)

So it helps to have ongoing discussions with your staff on these topics: Why customers buy from you, perceptions about poor customer service, and the factors about your service and products they like the best.

Research and other methods

Continually query your customers in formal surveys and in casual conversations using open-ended questions to get solid answers, not “yes” or “no” answers.

Take action steps and make improvements when feasible.

After you get great feedback and measure the results of improvements, tell your customers and express your appreciation.

When customers make purchases, don’t forget to thank them and prevent buyer’s remorse by tactfully reminding them of the value of their purchases.

And explain to your employees why it’s important to stop using the most-trite phrase on the planet: “Have a nice day.” Instead, your employees need to focus on providing an attitude of service and gratitude.

You’ll be creating a happy buying environment for repeat business and customer loyalty.

From the Coach’s Corner, here are related articles:

How to Profit from Word-of-Mouth Advertising and Customer Service — When was the last time you explored options for improving your word-of-mouth opportunities? Here’s a hint: Customer service is the No. 1 key to good word-of-mouth advertising and repeat business. My firm’s research shows that consumers usually respond favorably to marketing after receiving five positive messages. Conversely, they will divorce your company if they have five or fewer unfavorable experiences.

Why Companies Are High Maintenance to Customers (but Don’t Know It) — Businesses are losing more than they know because they inconvenience customers. Such negative customer perceptions result in lost opportunities in revenue growth, tarnished branding and smaller profit margins, according to a study.

Marketing – Insights for Attracting Millennial Customers — Marketers from fast food to cars are struggling to understand an important demographic – 59 million young adults, aged 23 to 36, according to a published report. Other observers believe there are 80 million millennials, but in a slightly narrower age group. Either way, companies are obsessed with targeting millennials for good reasons.

Why Your Customers Stay or Leave – Insights from Study — Despite all the emphasis on speed in customer service, it’s not the salient factor in keeping customers happy. A study confirms that the power of emotion is most important, according to a January 2013 published report in QSRweb.com.

Understanding Customers — Social Media Humbles Companies — Marketing is the understanding of your customer for the cost-effective process of selling the right product or service at the right time and at the right price. Inexplicably, Verizon joins the list of big companies failing to understand how poor research and judgment would draw fire from their customers and social media.

“Well done is better than well said.”

-Benjamin Franklin 


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Author Terry Corbell has written innumerable online business-enhancement articles, and is a business-performance consultant and profit professional. Click here to see his management services. For a complimentary chat about your business situation or to schedule him as a speaker, consultant or author, please contact Terry.





Photo courtesy of stockimages www.freedigitalphotos.net

Seattle business consultant Terry Corbell provides high-performance management services and strategies.