Learning and development training

Thought for the day

The full archive of free daily management tips from our team of trainers.

‘Being good enough, isn’t good enough – give customers a reason to be faithful’

Develop a customer retention programme
The fact is that if you don’t give your customers some good reasons to stay, your competitors will give them a reason to leave. Don’t use the ‘can’t afford to’ maxim. Most surveys show that keeping an existing customer is five to seven times more profitable than attracting a new one.

How many customers have you lost recently?
Customer attrition, or rather the lack of it, is the key indicator in measuring the success of any retention and customer service strategy. However, it is rarely measured to the degree that it should be. Customer attrition is the number of customers who did not renew their relationship in any one trading period, expressed as a percentage of the number of customers at the start of the month.

© The author

This thought has been taken from Graham’s book ‘Companies don’t succeed, people do!’ Graham delivers outstanding sales training – click here for details of some of his programmes.

Previous Thoughts for the day

Red Arrow‘Encourage your customers to be unreasonable’
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Red Arrow‘Give your customers the benefit of the doubt’
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Red Arrow‘Encourage your customers to complain’
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Red Arrow‘Being good enough, isn’t good enough – give customers a reason to be faithful’
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Red Arrow‘How to keep a customer for life – give them lots of reasons to stay’
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Red Arrow‘Close the customer service department’
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Red Arrow‘Customer satisfaction is everybody’s job’
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Red Arrow‘Customer satisfaction is not satisfactory’
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Red Arrow‘The answer is – yes!’
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Red Arrow‘What are others doing?’
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Red Arrow‘How can I take better care of my customers?’
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Red Arrow‘Every sales call is a free market research opportunity’
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Red Arrow‘The customer isn’t always right’
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Red Arrow‘Give your customers more than they pay for’
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Red Arrow‘Wash your dirty laundry in private’
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Red Arrow‘It’s OK to spend money’
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Red Arrow‘Expect the unexpected’
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Red Arrow‘Have a NIZ!’
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Red Arrow‘Dump trivia’
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Red Arrow‘Less is more’
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Red Arrow‘Speed up routine tasks’
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Red Arrow‘Stop doing other people’s work’
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Red Arrow‘Ask questions’
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Red Arrow‘Take control!’
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Red Arrow‘Listen!’
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Red Arrow‘You don’t have to answer the question’
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Red Arrow‘Shut up!’
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Red Arrow‘Be receptive’
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Red Arrow‘Go to the balcony’
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Red Arrow‘Think before you speak’
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Red Arrow‘You can’t stare – but you must watch!’
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Red Arrow‘Don’t be predictable’
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Red Arrow‘KISS’
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Red Arrow‘Aim high’
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Red Arrow‘Say “No.” ’
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