How to Make Sure That Your Clients Are Always Satisfied With Your Business
‘Customer is the king’ when it comes to running a business. According to the founder of Microsoft, Bill Gates, “your most happy customers are your greatest source of learning”. They are the ones who make your business go forward by purchasing the products and sharing a positive word of mouth with their friends and colleagues. On the contrary, disgruntled customers can bring down the shutters of a business by spreading negativity about a product or service. With the high penetration of social media, negative customer feedback has become a red flag for businesses which are now treading the path of customer relationship management with utmost care. Building relationships with a client means that he/she will become a repeat buyer and eventually a loyal customer for life. A satisfied consumer is nothing less than a walking promotional ad for your business that is why your service towards them should be exceptional. So whether you are planning to start a new company or wish to invest your money in one of the existing businesses for sale in the United States, you must have a robust customer service plan in place. Thus entrepreneurs must have a strategy to create a delightful experience for customers who walk into their store or visit their office.
Whether it is a B2B or B2C enterprise, the clients should be satisfied by the services so that the business can flourish and reach greater heights of success. According to the Customer Experience Impact (CEI) Report, 86% of the customers will not shy away from paying a few bucks extra for a better customer experience. Also, 89% of the customers switched to a competitor when they were not satisfied by a particular company’s customer service. There is no dearth of surveys that suggest the direct link between customer satisfaction and the performance of the business. The American Customer Satisfaction Index states that the stocks of the companies with more happy consumers are ranked higher than those whose clients are miffed or indifferent. It is costlier to find a new customer than to retain an existing one as the probability of selling to a loyal customer is much higher. That is why many entrepreneurs find it easier to buy a franchise for sale in USA rather than building a start-up because an established brand comes with a faithful customer base. To keep the clientele intact, businesses must abide by these cardinal rules:
Do not neglect your customers. Instead of sending bulk emails, interact with your customers on a regular basis through scheduled phone calls. These short periods of engagement are helpful in sending out updates related to new products and services and gathering feedback. You can ask them to rate the service on a scale of 1-10 and if they rank you lower, you must inquire about the ways of improvement. Pay attention to what they say and try to determine the needs and desires of the customers while making the conversation. This will help in getting ideas for new products and innovations and fill the gaps in the market. Make the phone call an informal exchange which sounds genuine and should not seem like an attempt to drive more sales.
Address their concerns promptly
Disregarding the concerns of a customer is the biggest mistake an entrepreneur can ever make. It not only leads to losing the client but also means negative publicity and criticism among the peer group which can affect the reputation of the company. If at all the issue reaches the Facebook page, it is sure to become sensational news that can further dampen the business of the company. Proactively respond to all queries and concerns of your consumers and get them resolved within 24 hours if possible. Ignoring or avoiding them is not going to fetch any positive results.
Building the trust of the buyer is dependent on being transparent about the process. For example, if it is an online retail shop, then the customer should have all the details to track the shipment and should be aware of the arrival time of the package in advance. This makes the consumer believe in the company and buy from them every single time when he/she is not willing to visit a physical store. On the other hand, if a customer makes payment and is clueless about the whereabouts of his delivery, then you are definitely getting some exasperating emails in your inbox. When you buy a business for sale in Austin, Texas, you must check the delivery process to make sure the customers are happy with the service.
Whenever you come in contact with the buyer, you must be courteous and polite even if you are at the receiving end of an angry outburst. Find out ways to pacify the peeved client by offering a new product or service in return of the unsatisfactory product, or provide a cash back or refund or discount coupons that can bring their temper down. Besides, make it a habit to meet and greet your customers with a smile and add a personal touch by asking questions about their buying experience. Also, make sure to thank them as gratitude can go a long way in cementing the partnership further.
The quality of most products tends to decline after a period of time while the prices keep increasing. This does not go down well with the buyers. They are quick to make a switch to a competitive product if they are not happy with what they get for the money they paid. Deliver what you had promised in the first place and maintain the quality over the years. Keep innovating and outperforming others to stay ahead of the competitors. This will increase your credibility in the market and position you as a valued brand. If you are acquiring a business for sale in Los Angeles, California, then you must keep developing the product line further to keep the customers engaged.
Make it personal
According to Bain and Company, if customer retention increases by 5%, the profitability of the company can increase by almost 95%. Hold on to your clients by making it all about them. Whenever you call them, address them by their name; send them wishes for their birthdays and season’s greetings along with a promo code for discounts. Check the buying behavior and preferences to suggest savings on their next purchase. Create rewards for consumer referrals if they refer your products to their family and friends. These offers are sure to keep the clients attached to the brand.
Make sure that you train all your employees in customer relationship management so that no problems arise at any customer touch point in the purchase life cycle. All these tips are applicable to start-ups as well as businesses for sale in USA in order to avoid any hostile situation and to keep the customers happy and satisfied.