The Importance Of Customer Retention, And Prioritizes It Essay

1038 Words Oct 27th, 2015 null Page
“The customer is always right,” seems to be the golden rule for every business. “In truth, the customer is not always right,” says Tali Yahalom; so why do businesses strongly inforce this concept? A successful business knows the importance of customer retention, and prioritizes it. Unsatisfied customers complain, but oftentimes a negative experience can become an opportunity. Therefore, customer complaints have countless potential, when placed in the hands of a sales team that obtains the knowledge of reconciling with customers. Starting with basics, a satisfied customer may share their experience with three friends, whereas an angry customer has the potential to tell 3,000 friends in social networks and communities. For each customer that complains, there are anywhere from tens to thousands of people that do not complain, they just stop buying. According to Gregory Ciotti in, “How to Talk to Your Angriest Customers,” nine out of ten customers will continue purchasing products even after a slip up, but only if the business fully resolves the issue the first time. Research shows that majority of loyal customers were once complaining subjects having their issues fully resolved by the company. Support is not always being right; it is about always being willing to make it right. Complaints, even angry ones, contain insight on imperfections in the business. In “How to Handle Customer Complaints,” Tali Yahalom quotes Ann Thomas, a senior consultant at Performance Research…

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