 |
Client Surveys - How Something So Simple Can Make Such A Huge Impact.
Posted by B2B on: 2006-01-20 10:41:13
Client Surveys - How Something So Simple Can Make Such A Huge Impact.
Avery Manko
The good news is that advertising works. I've witnessed real, measurable results making me a big believer in advertising. The bad news is that it's the most expensive way to grow your business - you are literally buying new customers. Don't get me wrong, adding new clients to your customer base is critical to the success of your business and advertising is the means to do that.
While so much attention is focused on growing your customer list, what is often overlooked is that your current customer base is your best source for additional revenue. It's most likely to be the most valuable asset of your business and unfortunately every year a percentage of that customer base stops doing business with you. What you need to do is limit that loss because the longer you hold on to a customer, the more money you make.
Consider this:
1. It costs six times less to retain an existing customer than
to acquire a new one. 2. Your customers know your business and
are comfortable doing business with you. You're the incumbent supplier, a known quantity and inertia usually prevents them from switching. Most likely, they are less price sensitive (and
picky) than new customers and prospects. 3. Loyal customers
usually place bigger orders because they trust you. 4. Loyal
customers give you referrals.
So, what's the secret to keeping your customers and how do you prevent them from defecting? You have to give them exactly what they want. And how do you find that out? You ask them.
That sounds so simple, but when was the last time you picked up the phone, called a customer and said "Hey Bob, how are we doing?" Think about it, an objective, marketing-minded customer survey for your company could pay huge dividends. Here's what you need to find out:
1. What are your customers' perceptions of your company? 2. What
can you change to improve the overall customer experience? 3.
What kinds of products or services they are looking for? 4. What
is the likelihood that your current customers will purchase from
you again? 5. How are you viewed in relation to your
competitors? 6. Are you making decisions based on your most
vocal customers or your entire customer base?
Use the data from your customer survey to help you understand how your relationship is currently perceived by your customers and what actions you may need to take to improve the relationship - and to enhance customer satisfaction, loyalty, and desired business outcomes with all customers.
About the author:
Avery Manko is the owner of The Manko Company, a marketing firm in West Chester, PA. His firm develops and implements marketing programs for small and medium sized businesses. Contact him at 610-725-9844 or avery@mankocompany.com. For more about The Manko Company, go to www.mankocompany.com.
Recommended Websites
Open Community Website
http://www.business-business.biz
Recommended Websites
Your custom Retirement Planning.
For planning an IRA Rollover this is the website to review.
Professional asset allocation and the wonders it can do.
Money Managers selected to fit your needs.
Manager with strong national performance rankings.
Post new Comment
This site does not allow anonymous comments. Registered members can login to participate. Registration is free and takes only a few seconds