Escalation of Business Loss

 

Does your company experience an escalation of business loss as result of customer disatisfaction? 

Let’s say that you are a customer who is a home owner that pays for cable television, internet or some other service. If the service does not function properly, then you may complain. Should your complaint not be immediately resolved you will likely call many more times until your issue is fixed. 

Various customer service representatives may receive your inquiries by phone and / or e-mail. Each one may offer different suggestions. Regardless of what notes are made on your file there is no guarantee that your matter will be taken seriously and / or fixed.

Businesses and especially service providers fail to realize that even if your issue is finally fixed, as a paying customer you may not be appeased. If you encounter many issues with your service provider, then you may decide to cancel the service.

Upon your cancellation of your contract the service provider will likely bait you with incentives to stay with them. Discounts on services, free movies and account credits are only some of the possible ploys that companies will utilize to keep a customer’s loyalty. 

Perhaps businesses should demonstrate a great commitment to clients who are their customers, despite the seeming small value of each individual account. Larger accounts are taken more seriously and issues are addressed more quickly with a swifter dedication to complete satisfaction. 

Many small accounts equal a greater financial amount than one large account. This perspective should be applied to evaluation of customers as a whole. Once many customers are lost the financial devastation will have a massive effect on the bottom line. 

Customer service is the key to keeping customers happy for the long term. These representatives should be empowered to offer the maximum amount of incentives to customers whose service has been impaired. This is a better approach than having these offers provided by customer loyalty specialists when customers are on the verge of closing their accounts.

Or possible these awards may be presented when the customer has already cancelled their service. It is much more difficult to reinvigorate a business relationship that has totally deteriorated. It is best to salvage whatever may be saved at the time that an issue is pertinent for client continuity. 

A strong image of customer confidence ensures the growth of a company. Be known for being a business that caters to high quality customer excellence and be considered an industry leader indefinitely. 

 

 

Originally posted 2015-11-11 21:59:19.

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