Customer relationships are invaluable. We dream of them, strive for them, plan for their achievement,
enact plans to acquire them and then hope to keep them. Almost everything done in our business is aimed at the goal of developing new customers and maintaining a good relationship with them. Of course, all of this is not happening in a vacuum. Our competitors are likely taking similar steps in an effort to win those very same customers. Once that fragile relationship is developed, the focus must be on nurturing and maintaining that relationship.
We court our prospects, systematically convincing them of our sincere interest in serving their needs. Often, these prospects become our customers. Unfortunately, once that courtship is over, many businesses tend to begin taking that new customer for granted. While following the same acquisition steps, looking for our next customer, we sometimes lose focus on our existing customer relationships and the intrinsic value of their business both now and in the long term. The sad part is, we may not even be aware that our customer base is in jeopardy.
What are some of the signs that this is happening? The following are several negative behaviors that must be eliminated if we truly desire to keep our existing customers:
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1. lie
2. cheat
3. over-promise
4. ignore them
5. know nothing about them
6. take them for granted
6.5 set prices too high
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I amusingly listed the last item as 6.5 instead of 7 because although competitive pricing is important, it is seldom the actual reason why customers abandon us. The first six items are reasons enough. Lying, cheating or any unethical behavior will surely and abruptly sever the relationship rather immediately, seldom affording any second chances.
Our customers want to know that we value them. They want constant validation and will reject being taken for granted. If we ignore them and fail to continue the courtship, someone else will step in and fill those needs.
Step back and reassess your operational plan and overall goals, reminding yourself of the potential cost of losing your customer base. Furthermore, the lone voice of that lost customer may be heard by your other customers, perhaps exponentially, planting the seed for future problems.
Our competitors will always be attempting to acquire our customers, looking for any opportunity to step in. Do not irritate your customers. Love your customers instead! Let them know what they mean to you.
Have you hugged your customer today?
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Daniel Sitter
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Thanks for sharing your ideas..Its really a big help to people in business..It is something that one should consider to maintain or gain more customers..
Love & Gratitude,
Tina
Think Simple Now
~ Clarity & Happiness
Posted by: Tina Su - Think Simple Now | November 20, 2007 at 01:57 AM
This is such a critical point you make Dan! Having trained sales and been an operations manager for a service department, I have DEFINITELY experienced the difference in the way that businesses treat prospects vs. the way that they treat their existing customers. Usually, there is almost no budget assigned to nurture relationships with existing customers. I launched an initiative at the last company I worked for to do just that and the results were astounding. We learned so much valuable information from those existing customers that strengthened the product even more and reduced the number of customers leaving.
BTW - I just received your book today! It looks great and I am really looking forward to digging into it!
Christine
Posted by: Christine OKelly | November 20, 2007 at 12:34 PM