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!
The “Get Real” Guide to Having a Good Day Every Day
By JoAnna Brandi
There’s never been a time when great customer service mattered more than it does now. The economy is recovering, but consumer confidence is still down, and the customers who are buying have scores of choices of where to buy and how to buy. And now, almost every product and service out there has been “commoditized” so it’s hard to determine who actually offers the best value (and so, many people just shop based on price alone.)
I love Peter Drucker, always have, always will. I started learning Druckerisms early in my career since he was a favorite consultant of my former boss, Gerry Leeds. http://leeds.colorado.edu/About_Leeds/interior.aspx?id=238 Drucker believed that every three years every company had to take a look at their “Theory of Business.” That theory is made up of the…
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