Sunday, January 11, 2009

The Customer is King

If you were given a lie detector test today with only one question, “Does your company deliver superior customer service?” could you answer an unequivocal YES? If you answered yes, would you pass the test? If your answer is not yes, you are missing the most impactful way to differentiate your company from competitors.

Delivering superior customer service is exceeding customer expectations and providing those unexpected, little touches that make a big difference. As in any lasting relationship, you must earn the trust of your customers. It is incumbent upon you to instill confidence in them that you and your company possess the competency to provide successful solutions.

In today’s crowded, competitive marketplace, you have to find ways to prevent customers and prospects from perceiving your products/services as “commodities”. In a commodity market, price becomes the determining factor for making their purchase. I don’t know any entrepreneurs whose dream it is to be known as the “lowest price guy in town”.

It is amazing how simple the concept of delivering superior customer service is and how apparently difficult it is to deliver. It doesn’t have to be that way. When you develop and maintain a mindset that the customer is your number one priority, you develop a customer service culture that becomes a way of life. This ultimately determines the company’s success.

It is interesting how the slowed economy and the tragic events of 9/11 have precipitated some renewal of customer service. We are certainly not in a customer service renaissance, but any awareness of the value of a customer is a good thing. History has shown us that, unfortunately, as business starts improving and more customers are available, the value of the customer seems to diminish.

OUCH! 68% stop doing business because they “feel” the company does not value them as a customer. Inexcusable? YES! Avoidable? YES! LeBoeuf goes on to point out that the typical company hears from only 4% of its dissatisfied customers. The other 96% just go quietly away and 91% of those customers will never come back. This should not be surprising when you realize that human nature is to avoid adversarial situations and more importantly, customers do have other choices of companies who provide the same products and services.

The window of opportunity is wide open to differentiate you and your company from the crowded, competitive marketplace by delivering superior customer service.

Demonstrate to your customers that you value them by treating them as royalty and your kingdom will grow and prosper.

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