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Digg it UP - Customer Service Tips - Is Your Business A Leaky Bucket?
There are many people who think they may enjoy a career in the entertainment industry. However, most do not actually realize how many different jobs are available in this industry. A career in entertainment can be very exciting, and you do not have to be an actor to have a succes
Not bad figures
Let's face it. Monitoring employees' e-mail, tracking their Internet use, logging everything done at keyboards has become the norm in Corporate America.With computer monitoring software so cheap and easy-to-apply it's no wonder that workplace surveillance becomes more and
But, is your business a leaky bucket?
This is a question I always ask small business owners who attend my marketing seminars.
The reason I ask is because many businesses are so focused on attracting new customers they forget about retaining and providing good customer service to their existing clients.
Many are also unable to quickly identify who their most profitable customers are.
In the leaky bucket example we have two businesses in the same industry. Both businesses attract 10 per cent new customers each year. Not a bad effort considering the increasingly crowded and competitive industry they operate in.
Business number one has a 95 per cent retention rate and 5 per cent slippage, while business number two has a 90 per cent retention rate and 10 per cent loss of customers.
Not bad figures
Planning and preparing before you begin to send out resumes could save you some embarrassing moments when you receive that unexpected call.You just never know when that phone is going to ring. Let's say the phone rings just as you are about to sit down for dinner, but
The reason I ask is because many businesses are so focused on attracting new customers they forget about retaining and providing good customer service to their existing clients.
Many are also unable to quickly identify who their most profitable customers are.
In the leaky bucket example we have two businesses in the same industry. Both businesses attract 10 per cent new customers each year. Not a bad effort considering the increasingly crowded and competitive industry they operate in.
Business number one has a 95 per cent retention rate and 5 per cent slippage, while business number two has a 90 per cent retention rate and 10 per cent loss of customers.
Not bad figures
The SKINNY on NewspapersUsing the paper is considered gospel by many people in business. Use it wisely and it can be a good tool.Remember, newspapers are passive, non intrusive media. They tend to reach only buyers who are looking for the product. They are poor
Many are also unable to quickly identify who their most profitable customers are.
In the leaky bucket example we have two businesses in the same industry. Both businesses attract 10 per cent new customers each year. Not a bad effort considering the increasingly crowded and competitive industry they operate in.
Business number one has a 95 per cent retention rate and 5 per cent slippage, while business number two has a 90 per cent retention rate and 10 per cent loss of customers.
Not bad figures
Many young adults flock to bars, lounges and clubs on a weekly basis. They spend hundreds sometimes thousands of dollars on entertaining themselves and their friends. When the night's over and the lights go up, everyone starts to trickle out the front door a little more broke tha
Business number one has a 95 per cent retention rate and 5 per cent slippage, while business number two has a 90 per cent retention rate and 10 per cent loss of customers.
Not bad figures
Controversy has long been the secret weapon of experienced marketers. They know that word of mouth spreads the quickest when there is a developing controversy. For this reason you will see Madison Avenue advertising agencies using controversial topics and images to promote the
Not bad figures to have, but after 14 years business number one has doubled in size and business number two has stayed the same size.
This business is just treading water because it suffers from a ‘leaky bucket' with too many customers slipping through the holes in the bottom of the bucket.
Much of this is due to poor customer service. And they don't even know it!
For example, the research shows a typical business does not hear from 96 per cent of unhappy customers.
For every complaint there are 26 others with the same problem and the average person with a problem tells 9 or 10 others. Thirteen per cent will tell more than 20 people.
So that is the cold hard reality of poor customer service.
But it is not a
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