Networking HQ BLOG with Larry James

Wednesday, July 13, 2011

The Best Thing A Business Can Recycle

Filed under: Customer Service,Follow Up,Guest Author Articles — Larry James @ 7:00 am

Mike Liddicoat, Guest Author

Recycling is a huge part of our culture now. We recycle paper, plastics, metals, electronic equipment, the list goes on. Recycling can be very very beneficial for a business. The best thing a company can recycle is their customers.

Let me explain. As a business owner you know that it takes a lot of work to get a customer to do business with you. With almost any product or service available at the click of a mouse it’s a battle to get them in the door (or virtual door) let alone get them to come back.

So where do our customers go?

• Approximately 1% of your customers will not return or refer others because they will die. Well you can’t stop that one!

• Roughly 3% of your customers will move away and unless your a national chain you will lose that business also.

• About 5% develop other friendships. You may be the best realtor in town but if your customer marries another realtor your luck has run out.

• Approximately 14% of your customers will leave because they are dissatisfied with the product.

• Around 68% of your customers don’t come back because they perceive an attitude of indifference from you, they don’t feel appreciated. It’s the silent killer of your business. This is the single biggest reason why customers don’t come back. Often you don’t even know it’s happened.

So there you have it. About 3/4 of your customers leave you because you have failed to show them that you appreciate their business.

Here’s the big question, and yes you already know the answer. Is it less expensive and frustrating to try to get new customers to buy from you? or to simply recycle the ones you have and get them to come back?

Take a minute to send a card, give a gift or just tell them to their faces that you appreciate them doing business with you. That simple thing will keep them coming back for a very long time.


Copyright © 2011 – Mike Liddicoat. Mike is a Husband, Father, Speaker and the Sales & Marketing Director of AttaBoy! Solutions. His goal is to help businesses maintain relationships, ensure future business and acquire new referrals through appreciation marketing. Throughout his blog you can sign up for updates, news, special offers, discounts and more. Take a look around, leave a comment or two and enjoy. Contact Mike at 888-428-8226 x102.

Larry James presents networking seminars nationally and offers Networking coaching; one-on-one or for your Networking Group! Invite Larry James to speak to your group! His latest book is, Ten Commitments of Networking: Creative Ways to Maximize Your Personal Connections! Something NEW about Networking is posted on this Networking BLOG every 4th day! Visit Larry’s Networking Website at: “Networking HQ!”

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