Tips to Marketing in a Recession - Part 2

Would you like to save up to half of your marketing budget this year?

Providing exceptional customer service is very important.  A recent study done indicated that there were several reasons why customers did not turn into repeat customers. 1% had died, 3% moved, 5% were because of friendships, 9% left to the competition, 14% had product/service dissatisfaction and 68% cited an attitude of indifference by employees.

Other studies have shown that it is 6-7 times more costly to acquire a new customer, than it is to retain an existing customer.  Additionally, companies who consistently deliver exceptional customer service can often spend half the money in marketing and have twice the profitability as a company who does not.

CreativeXchange Marketing and The Voice Customer Service Training would like to introduce you to tip #2 in our series.

Tip #2:  Be sure your business represents the highest level of customer service.  In tough economic times, people are more critical of service.  They will not hesitate to stop using a company if service is bad.  Think about how you can add an extra touch or go the extra mile for your customers, providing them with a “WOW” factor – something that will leave a lasting impression and them talking about you to their friends, family and business associates.  The customer service experience is critical to gain repeat business, especially if you are selling a commodity product or service.

Source: Bain & Co. study in the Harvard Business Review, Richard S. Gallagher, author: Delivering Legendary Customer Service: Seven Steps to Success and North Dakota State University
 

 

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