Customers Are Assets, Not Expenses

Marketing

Customers Are Assets, Not Expenses
by Jim DeSena



If customers aren't pleased with the service they receive, they may complain, they may not; they may purchase from your company again, and they may not. Most customers don't complain. They just suffer in silence or take their business elsewhere. But the loss of a customer hurts your bottom line. The cost of acquiring a customer is significantly greater than the cost of retaining one, yet all too many companies don't treat customers as assets, they treat them as costs.

For example, have you ever noticed how difficult it is to call some companies, even those you buy from? Sometimes it seems impossible to locate a company's telephone number on their bills because it's buried in the fine print. Some companies don't put a 1-800 number, or any number, on their product because they see those calls as a cost, not as an opportunity to serve the customer, or even to sell additional products or services.

Once a customer reaches your company, do your employees have the product knowledge they need to answer customer questions? Have they had customer service training to be able to handle the difficult or complaining customer and win back that customer's loyalty? How satisfied are your customers with their interactions with your customer service representatives?

I just responded to a survey for my auto insurance company. I was able to give the customer service representative high marks, but gave the company low marks because of the difficulty in reaching a person. I always have to leave a voice mail message and it usually takes a day or more for someone to return my call, which, of course, I may not be available to answer at that time, further delaying the response to my initial call.

Do you have a customer-friendly way of doing business? Are your customer representatives able to handle most customer complaints or are customers forced to speak with a supervisor to get satisfactory problem resolution? With the advent of "Do Not Call" lists, getting to consumers will become more difficult than ever. Some companies plan to expand call centers so that when a customer calls in with a question or a complaint, that call can turn into a sales opportunity. Customer representatives need to be able to quickly give the customer what her or she wants and something extra for any inconvenience and do it with the utmost courtesy and care.

Are your customers considered costs or contributors to the bottom line? A shift in perception is the first step to making customers feel that they are valued. How customers are treated makes all the difference.


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Jim DeSena helps clients develop compelling business strategies, sell high-value, innovative customer solutions in an environment of rapid change, and provide award-winning customer service. Call 1-800-4321-Win for information on his keynote speeches, nat