Published: August 09, 2011
Four Keys to Growing Your Business Through Existing Customers
Consumer Reports, the trusted ratings and reccomendation organization, says two out of three customers are walking out of stores without buying. Reuters reported that just a single bad customer experience irks most US shoppers.
Becky Carroll, customer experience expert has a new book to help stop that happening to your business, titled "The Hidden Power of Your Customers: 4 Keys to Growing Your Business Through Existing Customers". The book addresses the many trends companies large and small fail to realize.
Here is some of what Carroll talks about in the book:
The Hidden Power of Your Customers: 4 Keys to Growing Your Business Through Existing Customers
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Most marketing budgets focus on acquisition, while existing customers are ignored or offered worse prices than new customers - and companies hope that existing customers won't notice
Companies are so busy prospecting for new customers they neglect to find out whether any of their existing customers have additional needs that can be fulfilled, thus leaving money on the table.
Organizations create "cool" social media campaigns to gain more and more followers, friends, and fans. Yet many of the individuals with whom the brands form these new "relationships" haven't bought (and may never buy) from those companies, while loyal customers and true advocates are lost in the crowd.
Companies have drastically slashed budgets, and often the first cuts made are to initiatives focused on customer service, as they are seen as "costs" to be reduced.
Companies don't call on their "customer loyalty" teams until faced with a situation where they have to try to save a customer. At this point, it is usually too little, too late.
Businesses work so hard to have "satisfied customers" that they don't notice when another company steps in and steals their customers by making a better offer.
The foreword to the book was written by Brian Solis, author of The End of Business as Usual and Engage!
Solis, a digital analyst, and champion for everyday customers, says, "Good customer service used to be one of the secrets to business success. Over time, however, what was considered "good" turned out to be not good enough. Somewhere along the way, customers became a burden, viewed by big organizations as a cost center and by smaller businesses as an inconvenience."
Pick up a copy of the book here:
The Hidden Power of Your Customers: 4 Keys to Growing Your Business Through Existing Customers
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