There’s no doubt about it; customer loyalty is key to profitability. A mere five percent increase in your customer retention could as much as double your bottom line profits! On the flip side, it costs anywhere from 6-30 times more to get new customers than it does to keep the ones you have – that is, if they’ll stay!
DetailsI know there are popular books out there telling you not to sweat the small stuff – but I’m telling you that when it comes to your customers – you should sweat.
DetailsIt was late morning and I was in my hotel room getting ready to speak and then to travel on to my next engagement. It was a long flight and wanted to be able to change into my travel clothes before getting on the plane. Knowing what a hassle that can be without having the convenience of a hotel room, I called down to the front desk to ask a favor.
DetailsOne summer, I went fishing with a friend. We rented a canoe and ventured out into a lake at dusk. If truth be known, I was mostly watching, not really fishing. But my friend was very serious about it. As dusk turned to darkness he opened his tackle box and began searching for a new lure. I watched, curiously.
Up until that moment he’d been using a yellow lure. He explained, “It’s time to switch to a black lure.” This mystified me almost as much as what I was doing in the middle of a lake, in the dark, fishing.
I had to ask, “Why would you use black lure in the dark, in what now looks like a black lake?”
DetailsWhile talking with a friend recently the subject turned to management skills and motivating people. I had just returned from a conference that covered that topic so I began talking about some of the successful motivation programs that had been discussed.
DetailsI just returned from speaking at another Inc. Magazine Conference on Customer Service Strategies. I enjoyed three days of learning and networking with some of the best and the brightest minds in the field, and in the entrepreneurial community. There was one thing in particular that was so rewarding for me this year. The absolute recognition and affirmation in almost every session that I attended that without creating an environment where the workers feel valued and good about coming to work, you cannot even hope to deliver a level of service that will build true customer loyalty.
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