I was thinking about this week’s article, what I what to share and what will provide thought-provoking questions at your end; what will engage you. I love what I do, but it is more important that the content of my article’s land with you.
My intention is always to provide information that is based on years of working with clients all over the world doing training, coaching and customer research. Sharing the stories, examples and amazing results. I want to make you think about your business, look at the gaps, have conversations and most importantly take action to grow your revenue.
So, this week, I thought I would check in.
Do You Know?
1. What motivates your customers to choose your business, product, or service in the first place? Is it due to word of mouth, is it your marketing spend, is it location, is it your customer service etc etc.
2. The percentage of your customers who are loyal and why? That means they definitely return and tell other people about you. Most importantly do you understand exactly why they are loyal, it’s not about guessing.
3. The average word-of-mouth recommendation rate of your customers (how many customers they send to you)?
4. The percentage of your customers who are only passive about their experience dealing with you?, what’s the impact on your revenue (It’s significant) and how you can improve their experience?
5. The percentage of your customers who are detractors? How much negative word of mouth are they generating and what’s the impact on your revenue (Very significant) and how you can improve their experience? 6. The percentage of your customers who are engaging competitors and why? What’s your share of wallet?
By Driving a better Customer Experience, you will drive more revenue.
It is critical to know how well your business is delivering a 10/10 customer experience such that your customers are actively promoting and recommending your services to friends and family. Understanding how much revenue you are losing because your customers are just OK about you is startling. We often think it is about how many complaints we are getting or not getting but what we don’t see is all those customers who are just passive about us.
If you want more customers recommending you to their friends and colleagues, then you need to know what makes them return.
Need more information to answer these questions? Have a look through my previous Blogs, located here on The Loyalty Zone website or contact me, I look forward to hearing from you.
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If you would like to have a chat with me about ‘Getting In The Zone‘ contact me I look forward to hearing from you.
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Warm Regards
Craig Cherry