Do your customers love you or leave you?

If I love my customers can I charge what I like?

The most-often quoted study on why customers leave is one attributed to, variously, The American Society for Quality, the US Chambers of Commerce and a book called “Lessons from the Field” by Howard Feiertag and John Hogan. This gives the following reasons for customers leaving:

o Death or moving away – 4%

o The influence of friends and relatives – 5%

o Competitor marketing and special offers – 9%

o Dissatisfaction with product or price – 14%

o Perceived indifference of the supplier – 68%

- A study by RightNow Technologies says

o 73% of customers leave because of poor customer service but the supplier thinks that only 21% leave because of customer service

o The supplier thinks 48% leave because of price when in fact only 25% do so

- Mercer Management Consulting research shows that for a selection of retail outlets, only 15% to 30% of customers are price sensitive – that is, they would change supplier for a better price

- So retaining customers is not (usually) about price – it’s about letting the customer know you care.

So - if I love my customers can I charge what I like?  And how do I get all my staff to provide great customer service?

Find out at this event.
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