Growth startegies based on customer feedback

Have you ever received a customer survey from a company after you have purchased a product or service? Odds are that you have received a feedback survey in some shape or form.

Surveys could be formal or informal. Formal surveys ask you give a rating of sorts. While informal surveys are usually verbal. Most large companies offer formal surveys, while many small businesses take informal surveys. Obviously there may be exceptions to this, but generally this is the case.

Surveys are a great way for a company to find ways to improve there delivery of products and services. However, many companies do not know how to read the scores and what actions to take based on the results.

In this blog I will show how to read the scores and what actions to take with both existing customers and prospects in order to directly affect company growth.

A company’s growth is directly tied to the satisfaction of its customers. There are three basic customer satisfaction scores: High, Medium, and Low.

High Score:
Receiving a high score in customer satisfaction means that your customers are likely to buy from you again; recommend your products and services; and you are very likely to close sales with prospects with little effort.

What this means to your company is that your company needs to continue to provide a high level of service to existing customers. Your existing customers are not only generating repeat business but also acting as your marketing arm. The company would also see the costs for closing new prospects decline. The difference would directly impact to your bottom line in a positive way.

Medium Score:
A medium score is no reason to rejoice. However, you should be grateful that is was not a low score. A medium score can be interrupted in a way that your existing customers are undecided on whether to award you repeat business; they are also not sure that they would recommend your product or service to others.

At this level a company should focus on its post sales support process. Just because a sales has been made and a product or service has been delivered, it does not mean that service stops. Determine from customers what corrective actions could be taken to move your score higher. Then follow through and implement those corrective measures. Inform prospects of the new measures in place to gain their confidence.

Low Score:
A this level your existing customers wished that they never signed on with you; not only will they not be a source of repeat business but will voice their dissatisfaction to prospects as well. Your

A this stage the company needs to take drastic measure to improve its products and services. A simultaneous approach will need to be implemented, i.e. improve services with current and active customers, increase post sales support by using incentives based methods, and the company will need to improve its image in the market place to attract new prospects.

In conclusion know the score; track the score; and adopt an appropriate strategy based on the score.

Till next time

Sal

http://www.salmankkhan.com/

After Sales Service

Many of the clients that I come across fail to service their clients after they have made the sale. As a result they lose touch with their clients or even worse only approach them when they need to make another sale.

The number one way to increase revenue is NOT through new markets or clients, it is by cross selling to your existing clients. Therefore, it is imperative to keep in touch with your clients. It does not matter if you have additional products to sell to the client or not. At the very least by keeping in touch with your clients you will gain their trust and confidence and they may become your best sales tool, i.e. your “revenue catalyst”!

So how do you keep in touch with your clients without adding a lot more work on you and at the same time not smothering your clients. First, relax. You have already made the sale. So back off a little. Start by sending out a thank you card. If you get a chance, note their birthdays and send flowers or cards. Call them once in a while, just to say hello. -And where possible help them with their business needs and wants.

Simple steps like the ones mentioned above can make a huge difference in the eyes of your customer.

A little work now, will go a long way in the future.

Good Luck.

Till next time!

Sal
www.salmankkhan.com