what is the best Wednesday Wisdom?

 In today’s competitive world, customers have become more powerful than ever. If you don’t serve them best, they will be more than willing and are more able than ever to switch.

Recognizing and accepting this fact is essential to the growth and success of any enterprise. One should work towards building a relationship with their customers because this relationship is the basis of future growth of your business. Here’s how the way you greet, treat and handle customers affects your business’s bottom line.

It’s a profitable marketing strategy

Go the extra mile…It’s never crowded

A happy and satisfied customer is the most valuable advertising tool. Word of mouth promotion is golden, but only possible if you have an outstanding customer service. In addition to advertising your business, the chances of getting repeat business from a happy and satisfied customer is greater.

People like to feel cared for

It is no secret that it is 6-7 times more expensive to gain a new customer than it is to keep an existing one. Hence it is in the best interest of any company to treat their existing customers best because if they don’t, there is always a competitor who’s doing the opposite. Undervaluing customer service is a risky strategy.

It’s a statement about your business

Your customer service reflects on your entire business. Rightly or wrongly, people assume that if your customer service is good or bad then your product or service is too.

By cultivating customer relationships with personal attention and care one can create a loyal customer base, which gives a great competitive advantage in the long run. On an average, loyal customers are worth up to ten times as much as their first purchase, but that worth won’t pan out unless you prioritize customer service.

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