| !--TYPO3SEARCH_begin-- Customer Driven Service Improvement (CDSI) simply delivers increased sales. It is a cost-effective way to stop customer erosion and outright loss by improving performance to improve sales. We help businesses profit from failure, consider the following:
Challenging the ‘acceptable truths’ of sales:
- Typically, 80% of customers are satisfied with a service. What about the other 20%? What do we know of them?
- Only 4% of dissatisfied customers complain (others simply leave). The remaining 96% may stay (for a time) but they will all complain to 9-10 people each, warning friends to try somewhere else first. This makes your marketing job harder.
- Churn is not inevitable. Customer loss rates vary by industry but are generally 10-30% pa. (Most retail shops lose 20% but some lose up to 40%.) Your marketing budget is aimed firstly at replacing these lost customers.
- New customer acquisition cost is typically 2-3 times the price of retaining customers, but it is up to five times easier to keep a customer than find a new one.
- Many new customers are new residents. What about the 85% of the population who don’t move? What is our strategy for them?
CDSI improves service, removing the reasons customers have to leave and the excuses we have used in the past about customer loss. CDSI delivers real results with one company that had applied the CDSI methodology halving its loss rate and increasing its profit 16 fold.
Worksmiths applies a two-stage methodology for CDSI:
- Tightly focussed customer research to identify the specific points of failure in service delivery – from the customer’s point of view. This information, in itself, is empowering.
- Removal of identified blockages and frustrations, eliminating the causes for loss of customers.
The results of CDSI are increased sales and reduced expenses (in complaints management and inefficient processes).
!--TYPO3SEARCH_end-- |