The key to customer retention is good customer service, regardless of the industry. Great customer care is of paramount importance. An increasing number of organizations are realizing that with growing competition, new innovations, constantly improving services and products, consumers are being pulled in different directions. It is vital to ensure that customer loyalty programs are an integral part of an organization.
Acquiring new customers is important, but holding on to existing customers is crucial. After all if existing customers are satisfied they will help in acquiring new ones by spreading the news of your organization’s outstanding customer service.
Take a look at these statistics:
- Repeat customers spend 33% more than new customers
- Referrals among repeat customers are 107% greater than new customers
- It costs 6% more to sell something to a prospect than to sell that same thing to a customer
So you can see the need for consistent and committed customer service support that will nurture and strengthen this relationship. Determining what they want is an important factor in organizational success. Since the market is in constant flux, one needs a consistent and committed approach in order to gauge and be in touch with the changing whims of a consumer.
The choice is yours. Do you have a customer service story to share? Please comment.