Customers genuinely do care about how they’re treated, and they’re not shy about voting with their feet.
According to Harris Interactive, 86% of the customers who stop doing business from a company do so because of a bad experience – that’s up from just 59% four years ago.
Why is this happening? Are employees becoming less conscientious or polite, more rude and indifferent? Are businesses becoming less concerned about the long-term bottom line, and more interested in immediate turnaround? There are undoubtedly parts of the retail or service economy where this is going on. There are always fly-by-night outfits whose indifference to repeat business and lack of integrity make life difficult for honest, well-run businesses with a focus on long-term success.
But more than anything, it may be that unhappy customers are walking in greater numbers simply because they can walk. Online vendors account for a large and growing portion of both retail and service business. This means that a customer in Saskatchewan can shift his or her business from a vendor in San Diego to one in Stuttgart, St. Petersburg, or Shanghai with little more than a mouse-click.
The ease with which customers can defect means that all vendors – brick-and-mortar or online – need to pull all the stops when it comes to keeping their customers satisfied.
If you would like to know more about how the ASK LISTEN RETAIN System or how it can help create customer retention and loyalty, please contact us.