For any business owner, trying to obtain customer satisfaction should always be a priority. The reasons why are probably obvious to you, but I’ll be exploring a few within this article to give you a gentle reminder. So, take a moment and consider the following benefits of customer satisfaction. The success of your business could depend on it!
Money does matter
As any business owner understands, money is one of the key factors leading to success or failure. This is where customers come into the equation. Without them, profits won’t be made, and financial struggles will follow. While marketing is important to acquire new customers, as these statistics show, it costs five times as much to attract a new customer than it does to retain existing ones. Therefore, for financial reasons do all you can to keep your customers on your side. You might offer a loyalty program for frequent customers or you might have special offers they can’t get anywhere else. By going the extra mile to keep your existing customers happy, they will return to you again and again. This will benefit your business profits in both the short and long-term.
You will ensure customer loyalty
Your customers don’t have to stay with you. If you do anything to upset them, or if you fail to meet their needs, your customers might stop buying from you. The upshot of this is obvious; they will head over to your nearest competitors. Therefore, make every effort to ensure their loyalty. Offer excellent customer service. Allow your customers perks they won’t be able to find anywhere else. Communicate in a timely manner, and be courteous and respectful in your relationship with them. Don’t make promises you can’t easily fulfill. You can also occasionally send out customer surveys. This will allow you to understand your customers better and attain feedback on reasons why they may or may not stick with you.
You will beat your competitors
The business world can be tough. Your competitors know this as well as you do. In many ways, your customers are pawns caught between you, as you both do battle to win them over to your respective sides. So, if you let your customers down in any way, you might lose them to your nearest rivals who will gladly take them off your hands. To ensure your survivability then, make the customer your priority. Look at any area where dissatisfaction might breed, and make every effort to improve your business. For example, you might improve your website if it’s causing problems for site visitors or customers in any way. You can use conversion rate optimization to both understand why some of your site visitors don’t become customers, and to improve your website to retain your customers. You might improve your level of customer service with training for your staff, and the use of CRM software to maintain your customer relationships.
Take time to research your competitors. If you notice they have made improvements to win customers to their side, you should match and exceed their efforts. This way you could win back old customers and retain those currently buying from you.
Customers are a valuable asset
Your customers can be your greatest asset, but they can also become your greatest enemy. Those who are satisfied are more likely to spread positive words about you on social media and business review sites. They will be happy to become brand ambassadors for you, sharing news about your business on your behalf. They will interact with your posts, leaving favorable comments that will be read by others. On the other hand, the opposite is true. If you upset your customers in any way, they will pass on negative comments and feedback. When your poor reputation gets around on social media, you stand less chance of acquiring new customers. Those one-star reviews won’t do you any favors either, as many people scour these sites before deciding to use a company. Therefore, stay on the right side of your customers. By keeping them happy, they will ensure happiness for you during your time in business.
Don’t let your customers slip away from you. Do all you can to keep them happy, and with hope, they will stick with your business for many years to come. As I mentioned earlier, the success of your business might depend upon it. So, despite your busy schedule, make customer satisfaction your #1 priority today. Here’s to YOUR success!
Carolyn R. Owens has over 25 years of proven experience and serves as a Career Strategist, Leadership and Life Coach. She is the Chairwoman and CEO of Infinity Coaching, Inc. where they help you up-level your skills so you can up-level your income. Infinity Coaching, Inc. provides one-on-one and group coaching, organizational training, personality assessments, and a signature program, the Infinity Coaching Inner Circle. Carolyn is certified to give both The Energy Leadership Index Assessment and Myers Briggs Type Indicator Assessment. You can find out more about both assessments and other products and services at http://www.infinitycoaching.net.