Things To Know Online

May 10th, 2012

Posted on May 10th, 2012, 0:14

Most businesses expend their energy in attracting new customers. However as long as they do not come up with effective strategies to retain existing customers they can no longer attain business success. Businesses can survive if they focus their attention more on retaining customers rather than attracting new ones. And the best way to retain them is through great service. Great service includes factors like convenience, value for money and after sales service as substantiated by the findings of the American Express Global Customer Service Barometer. According to the American Express survey, “buying decisions of 89 per cent of consumers are influenced by convenience and 90 per cent of them attach importance to value-for-money propositions, almost 90% of consumers make their purchases based on the quality of after sales customer service.”

Today companies and organizations focus their entire attention on attracting new customers and hence their concentration is entirely on sales and order fulfillment. Such an attitude on the part of the companies worked in the earlier times when the business environment was not as competitive and strict as it is today. However, globalization and the economic recession made the business environment highly competitive and volatile. Moreover, customers are also no longer naïve. They know about their rights and are not ready to accept anything that is imperfect or subpar, be it the products or customer service.

Today customer is king.  It is not the customers but the companies who need the support of the customers for their survival. Hence, the onus is upon the companies to provide customers with a service that force them to come back repeatedly. However, companies have still not learned the importance of after salesservice. It was a non-core activity and it continues to be a low priority area for most companies and organizations.

Today almost all companies survive due to word of mouth marketing. Hence, if the service is not good then it means loss of business for the company. This has been substantiated by the American Express survey, which states that customers are found to tell about their bad shopping experience more than their good shopping experience. This should serve as an eye-opener for those companies who do not recognize the potential of after sales service and take their business for granted. After sales serviceis no longer a complicated process. Companies can seek the help of after sales service providers who can automate, rationalize, and optimize the processing of the end-to-end after sales business process.

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By Josephmax, in: General