Improving Company Profitability in 5 Steps – Keeping Customers

Improving Company Profitability in 5 Steps – Keeping Customers

Step 3 – Keeping Customers

Are you losing customers?  If so, why?  Is it poor service or a bad customer experience?  Be objective.  I am sure you are fully aware that it is much more expensive to find a new customer than to retain one you already have.  For many small businesses, the customer experience is all important.  I have written extensively on improving the customer experience including in this column.  In the age of social media, one angry customer can tell literally thousands of people about their bad experience.  That is a lot of lost prospective customers.  Conversely, a happy customer can become a brand evangelist for your company and spread the good word.  You should track customer complaints, analyze them and do something about them.

Bryan B Mason

Apollo Consulting Group, Providence, RI

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