CAN YOU AFFORD TO LOSE CUSTOMERS?

   

Is this your Customer?

In the current tight trading climate , it is now more important than ever to hold on to your customers especially as a recent survey for T Mobile  has revealed that on average each lost customer costs small firms £4910 in lost profits.

 

The survey identified that a lack of responsiveness is viewed as the biggest cause of poor customer service. Key survey findings are:

  •  Each lost customer costs small businesses £4910
  • 37% state that a lack of responsiveness is to blame for poor customer service
  • 90% of small businesses aim to reply to customer calls and emails within 24 hours
  • Small business owners spend on average 37% of their time away from the office
  • Over a fifth of small businesses believe that mobile technology increases responsiveness by more than 50%

  

In the last 12 months, small companies have lost a least 4 customers each which could equate to c £20,000 in lost profits!

 

Even though the survey showed that 88% of business reply to customer emails and 93% return customer calls within 24 hours, with a third of businesses responding to customer complaints immediately – there is still a need to review speed of response to customers if businesses are to remain competitive and retain customers.

Evidence suggests that larger competitors are much quicker to respond to customers and this is a significant threat to small businesses. An immediate response to customers is obviously ideal, but at the very least small businesses should examine ways in which queries either via phone or email can be replied to within a maximum of one to three hours. (What would you expect if you were the customer?)

 As resources can be limited for small businesses it is important to consider how technology, especially internet enabled mobile devices, can be used to ensure that customer relationships are never jeopardised through a lack of responsiveness.

Superior Customer service is key for small businesses not only to compete more effectively with larger companies, but to thrive and prosper.

For professional & impartial business advice contact Janette Whitney  at Award Winning Business Consultants, Janette Whitney & Associates on 01403 733671

 

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Thought for the day

“Advice is like snow. The softer it falls, the easier it’s absorbed, the deeper it sinks, and the longer it lasts.”JWA LOGO

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