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Creating long term customer value

Thursday, October 25, 2018

Creating long term customer value

Only your customers can evaluate how well you look after them and that’s likely to differ from customer to customer and with each interaction with your business. As a result, there will never be a checklist to ensure you take care of your customers each and every time. However, there are 3 poor service habits every business needs to stamp out. 

Mistake 1:  Hiding from your customers
Do you “hide” from your customers? Hiding includes sending emails and texts instead of calling them or allocating junior staff members to deal with more demanding customers. 

It’s little things like this that send a clear message to your customers. Of course you need to delegate some things to your staff and sometimes it’s faster or easier to send an email. But when these things become the only means of communication, your customers will begin to feel unappreciated - allowing your competitors to fill the void.

Mistake 2:  Assuming you know what your customers want
These days, most customers demand tailored services and expect to receive customised options. Offering simple cookie-cutter products or services is not going to satisfy them for long. Even your most loyal customers are likely to have changing needs and preferences over time.

Assuming you know what all your customers want means you are ignoring them. As a result, it won’t be long before you lose them to someone who will listen, respond and adapt to their requirements.

Mistake 3:  Neglecting or failing to value current customers
The only reason your business exists is to help customers – new and current. That’s it! Of course you need to pay bills, educate your kids and pay your team. But none of that will happen if you don’t look after your current customers. You and your business are dependent on them so your daily goal must be to help them.

What’s more, your most valuable customers are the ones you have NOW!

They need to be cherished and feel valued. Finding a new customer is hard and expensive. Replacing a lost client – especially a high value one – takes time. Appreciating every single, current customer should be the focus of everyone in your business. After all, you depend on them far more than they need you.

The information contained in this post comes from Trudi Yip’s bestselling business book, Counting Potatoes – Transform your creative passion into business success. To view excerpts or to purchase a copy of the book click here.

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