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Entrepreneurs Depend Upon Word of Mouth Not Social Media

Entrepreneurs Depend Upon Word of Mouth Not Social Media

qYes, according to a survey of nearly 2000 professed entrepreneurs, the principal source of new business is from referrals from existing clients.

So, while social media is good, it is still far from being the best source of new clients, which most new businesses need.

How then do you approach the gathering of new clients and growing your business?

I suggest that it begins with a commitment to customer service. In the age of Phone Robots and Voice Mail Jail, plain and simple customer service has a lot to offer. Let’s look at some of the reasons you may want to take a fresh look at Customer Service.

 

  1. It is much cheaper to keep a client than get a NEW one.
  2. Satisfied clients share their experience with others
  3. It is about more than saying “I’m Sorry”
  4. Satisfied customers come back

 

These are some of the most upfront and powerful thoughts that, when implemented, will grow your business. Looking at each one, briefly:

Yes, according to a survey of nearly 2000 professed entrepreneurs, the principal source of new business is from referrals from existing clients.

So, while social media is good, it is still far from being the best source of new clients, which most new businesses need.

How then do you approach the gathering of new clients and growing your business?

I suggest that it begins with a commitment to customer service. In the age of Phone Robots and Voice Mail Jail, plain and simple customer service has a lot to offer. Let’s look at some of the reasons you may want to take a fresh look at Customer Service.

  1. It is much cheaper to keep a client than get a NEW one.
  2. Satisfied clients share their experience with others
  3. It is about more than saying “I’m Sorry”
  4. Satisfied customers come back

These are some of the most upfront and powerful thoughts that, when implemented, will grow your business. Looking at each one, briefly:

  1. It’s Cheaper to keep one than it is to get one! There is a lot of research on this subject and the ratio are spread rather widely but the it costs 4-10 times as much to get a new client as it does to keep one. The solution is pretty obvious-It pays to keep the clients you get. What actions can you take to keep clients? Provide “Knock Your Socks Off Customer Service.”
  2. Again, the research is overwhelming. Satisfied clients tell others of their experience, in fact, they tell as many as 21 people about exceptional customer service. That is advertising that is more powerful than any Twitter message.
  3. Most customer service people, when you can actually talk to one, have been taught to say I’m Sorry a lot. Saying I’m Sorry does not fix the problem. If I have a problem I want it fixed, I don’t really care if someone in India has been taught to say “I’m Sorry.”
  4. No one is perfect and most of us know that mistakes are sometimes made. So, it is not about having perfect product or always doing the right thing. It is doing something about the imperfections or the mistakes. Fixing the problem, not talking about fixing the problem

While there are many actions that can be taken, what really matters is fixing the problem. Most customers, with problems “don’t want to know how the clock works, they just want to know the time.”

In other words, If I have a problem, I just want it to be fixed. I don’t want to talk about it, I just want it fixed. Good to remember.

 

 

 

 

 

 

 

 

  1. It’s Cheaper to keep one than it is to get one! There is a lot of research on this subject and the ratio are spread rather widely but the it costs 4-10 times as much to get a new client as it does to keep one. The solution is pretty obvious-It pays to keep the clients you get. What actions can you take to keep clients? Provide “Knock Your Socks Off Customer Service.”
  2. Again, the research is overwhelming. Satisfied clients tell others of their experience, in fact, they tell as many as 21 people about exceptional customer service. That is advertising that is more powerful than any Twitter message.
  3. Most customer service people, when you can actually talk to one, have been taught to say I’m Sorry a lot. Saying I’m Sorry does not fix the problem. If I have a problem I want it fixed, I don’t really care if someone in India has been taught to say “I’m Sorry.”
  4. No one is perfect and most of us know that mistakes are sometimes made. So, it is not about having perfect product or always doing the right thing. It is doing something about the imperfections or the mistakes. Fixing the problem, not talking about fixing the problem

 

While there are many actions that can be taken, what really matters is fixing the problem. Most customers, with problems “don’t want to know how the clock works, they just want to know the time.” If I have a problem, I just want it to be fixed. I don’t want to talk about it, I just want it fixed. Good to remember.

 

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