A new customer always comes with the baggage of acquisition costs.
It’s only when that customer returns for a second purchase that you can make 100% on your profit margin.In some sectors, companies make their first sale at a loss and look to recoup it from subsequent transactions.
This is why cracking the customer retention challenge is the key to long term growth.
When the talk turns to specific strategies for retention, the go-to option for most companies seems to be discounts, deals and freebies. They do result in increased footfalls, but at the cost of significant losses.
Just ask those merchants who jumped on the daily deals bandwagon but saw only losses and bargain hunters.
However, there are smarter strategies for getting repeat buyers that do not involve flushing your money down the toilet. Do these things, like
So you have got the memo and have started collecting customer feedback.
But that is only the first step of a long process.
An ideal customer feedback scenario would be when the entire organization takes a long and hard look at those reports and implements the required changes. The feedback would also be acknowledged and the customer rewarded for their time and effort.
But with many companies that does not happen, resulting in loss of time, money and more importantly, customers. After all, would a customer stay with you if they find that you don’t care enough to fix what they point out is broken?
You might have been hearing a lot of talk about how a well written FAQ can be a powerful customer service asset. And it is true- customers and prospects really do appreciate a well written FAQ section.
If you are using a solution like our Ticket System or our Chat System you already have a list of questions that are frequently asked. That is one part of the job, but it’s not the most important part.
The trick is to write your FAQ in such a way that it’s useful, can sustain reader interest and does not leave them with more questions than they started with.
Additionally, to automate large parts of the workflow, organize and update it regularly and save time you can use solutions like our Knowledge Base. This system is a great resource, especially when you will need to maintain a massive knowledge base.
So here are some guidelines for writing great FAQs
This is part 2 of a two part series about motivating your help desk department. Part 1 is here.
In the last blog post I talked about why a company needs to keep the morale of the customer service department high if it wants to perform well.
I also outlined five things companies can do in the short term to make sure that helpdesk employees can do their job efficiently.
However, short term fixes will only go so far. Companies will also have to take action over the mid to long term and change their corporate culture and create a different image of themselves if they want to become more customer service employee friendly.
Some of the most important employees of your organization work at the helpdesk.
They are the first to deal with prospects and customers and your brand image depends a lot on how they do their job.
Considering how vital the customer service department is, many companies do a horrible job at managing it. Helpdesks usually look like a revolving door, with employees departing at fairly regular intervals for greener pastures within and outside the company. Most businesses in the US experience turnover rates of nearly 50% in the customer service function.
This churn hurts companies in multiple ways. First of all, a lot of time and money is wasted in training new batches of employees. And because these employees are not committed and motivated enough to stay, they can harm their employers’ reputation and cause severe financial loss during the course of their job.
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