Archive for the ‘Customer Communication’ Category

Taking a Long View of B2B Customer Relationship Management

Tuesday, September 5th, 2017

Customer relations is a crucial aspect of any business strategy. And for good reason. Amy Gallo of Harvard Business Review writes, “Depending on which study you believe, and what industry you’re in, acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one.” The importance of customer relations is especially true in the B2B context. Typically, B2B companies are working with a smaller pool of customers than B2C companies, and each customer, therefore, makes up a larger share of revenue.

McDonald’s doesn’t want to lose customers, but it’s a lot less painful for McDonald’s to lose a customer than for Boeing to lose one. Similarly, many businesses serve both consumers and businesses. Consider a rental car or hotel company. They obviously have many individual consumer customers, but they also serve large organizations, such as corporations with staff who travel regularly.

So how do you maintain those crucial strong relationships with B2B customers? Here are some tips. (more…)

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How Well Are You Realistically Managing Customer Expectations?

Tuesday, August 8th, 2017

Copyright: <a href='https://www.123rf.com/profile_georgerudy'>georgerudy / 123RF Stock Photo</a>A frequently quoted “formula” in the field of customer relations tells us: “expectations – reality = disappointment.” While this may seem simplistic, don’t relegate it to the ranks of witty sayings or bumper sticker slogans. There is a great deal of truth in this straightforward equation. Most business owners, managers and customer-facing employees have dealt with unhappy customers. It’s part of the job. But all too often, that customer frustration or disappointment can be avoided by properly managing expectations. (more…)

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They Might Come Back: Why It Pays to Treat Exiting Customers Well   

Thursday, July 20th, 2017

38309393 - group of different families together of all racesNo company retains every customer they do business with. There is a natural ebb and flow of customers over time, whether your company provides a product or a service. Understanding that ebb and flow is important. Calculating the lifetime value of your customers, anticipating potential losses and determining how much time and effort to spend on prospecting for new customers are all very important elements of running any business. (more…)

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Do You Know When—And Why—Your Customers Have Left You?

Thursday, May 18th, 2017

Every business will gain and lose customers over the course of the business’s lifetime. Of course the hope is that there will be more gains than losses; however, sometimes businesses find themselves in the opposite situation and struggle to understand why their customers are leaving. While creative companies could come up with a myriad of creative and complex metrics and measurement techniques to try to gain some insights, one of the best ways to determine why customers are lost is to ask them! (more…)

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Tips for Marketing Your “Boring” Business

Monday, March 27th, 2017

Let’s face it. Not all businesses are as flashy and exciting as manufacturing high-end sports cars, groundbreaking technology or exquisite luxury items. The marketing for some products is as simple as letting people know the product exists. Unfortunately, that’s not the case for most companies, and this means they may need to work extra hard or be extra creative in making sales. As Ryan Holiday writes for The Huffington Post, (more…)

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Cultivating Customer References in a B2B Environment

Wednesday, March 22nd, 2017

Most of us understand the value of positive customer reviews. Especially in the world of online retail, a positive product rating on Amazon can represent a big boost to sales. Data suggests that roughly 90 percent of Amazon users believe positive reviews influence their purchase decisions, while 86 percent say the same of negative reviews. (more…)

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Gaining a Better Understanding of Where Your Audience is Coming From

Thursday, March 2nd, 2017

What event or events would you say have had the greatest impact on the United States during YOUR lifetime? It’s a question put to 2,025 adult survey respondents in a mid-2016 Pew Research Center poll, the results of which were covered by Claudia Deane, Maeve Duggan and Rich Morin. Before looking at the article, try to answer the question yourself. What are the 10 historic events during your lifetime that have had the greatest impact on the country? (more…)

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Why It Pays to Be “You,” Rather Than “Me,” Focused

Thursday, January 19th, 2017

12389678 - acronym of aam for all about me written in chalk on a blackboard

By now, most business owners and business professionals have accepted the value that social media can have in helping to raise awareness, create preference and drive traffic to websites and to brick-and-mortar establishments. But, unfortunately, not all are communicating effectively through these channels.

We often see two common missteps, which we try to advise clients against doing: (more…)

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You’re Fired! It Works for Customers Too.

Thursday, January 12th, 2017

I love customers mug

Sometimes clichés can become so pervasive that we fail to think critically about their meaning or the full implications of the statement. A classic example in business, generally, and customer service, specifically, is “the customer is always right.” To state the obvious, the rationale is that no matter how difficult, rude and unreasonable a customer may be, that customer is paying the bills — and you should do whatever it takes to make that customer happy. (more…)

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