lifetime value

The Passive Predicament - 4/13/21


The employee is speaking to you.  Do they have that look in the eyes like they’re hanging on your every word, like they’re processing, interpreting, and getting ready to quickly respond to your key points and questions?  Or do they have the look of somebody in the 2nd hour Read more

Regain Lost Motivation - 4/6/21


For many of us over the last 12 months, our home has also become our workplace.  Our work interaction has been 2-dimensional through the computer screen as opposed to the 3-dimensional experiences we’re used to with co-workers and customers. We are all motivated in our own unique ways.  Some are Read more

The Answer is Right, but the Service is Wrong - 3/30/21


Maggie was irate.  The gift she ordered needed to be received by the 20th of the month so she could give it to her cousin for his birthday.  It was the 19th, and Maggie couldn’t find any shipping update online, so she called the company.  The employee said “Oh!  Read more

Question Everything, but What’s the Question? - 3/23/21


The new leader joins the organization, and she decides she wants to question everything.  She wants employees to question everything.  Why have we always done it this way? Why do we continue to do it that way? Is this the best way to work? Sometimes it’s a great management Read more

The Resourceful Rep - 3/16/21


One of our clients is seeking to develop Customer Service Standards.  We’re working with them to identify those key expectations of staff that will enable the organization to deliver a consistent high-level customer experience.  One of the key attributes that this organization is seeking from its team members is Read more

Be Proactive like a Pro - 3/9/21


We constantly work with clients, encouraging them to become more proactive with customers.  Don’t just be reactive, waiting for the customer to ask questions or to complain.  Instead, go to the customer, anticipate their needs, suggest something to them. But many of us, frankly, don’t know how to be proactive.  Read more

Find One Unique Thing - 3/2/21


Many of us are not in a position to develop long-term relationships with our customers.  Our encounters are often one-time only with a customer - very brief and likely to be our only time chatting with this individual. And even though there may not be a long-term professional relationship developed, Read more

Should I Stay or Should I Go? - 2/23/21


Should I stay or should I go?  That’s not just a classic song by The Clash.  It’s also the question customers ask more and more, especially during difficult economic times. A recent study in the Charlotte Business Journal noted that 50% of North Carolina businesses are concerned with how to Read more

Optimism – A Force for Good in Customer Service - 2/16/21


Will 2021 be a better year than 2020?  I have absolutely no idea.  Maybe it would be nice to see into the future and know for certain, but I can’t and I don’t.  But as I wade further and further into this year, I can hope that the water Read more

To Assure, Ensure You Do This - 2/9/21


Vince Lombardi – famous professional football coach – became a big hit on the speaker’s circuit during his time coaching.  He applied many of his principles in football and life to business, and one of his great business quotes is:  Confidence is contagious and so is lack of confidence, Read more

Developing Fan Relations During COVID-19

Posted on in Business Advice, Sports Please leave a comment

As sports teams and organizations across the world are gearing up to start play without fans, these same organizations are also determining what that fan experience is going to be when fans start attending again.  Many sports organizations are focused on locking in revenue from existing fans – keeping those season ticket payments coming in on schedule – or more operationally looking at how the facilities and the fans can be kept safe and healthy.

But there’s a middle ground between today (when teams are trying to lock in revenue) and that time when the first fans walk back into the arenas.  That gap between the financial rush now and the facility rush weeks or months from now is a huge gap in time.  That gap needs to be filled with relationship-building efforts.  That lapse in onsite engagement is something sports organizations need to view strategically as an opportunity to learn more about their fans, develop relationships with their fans, and provide value to their fans.

“Sports organizations need tailored Touch Point Plans to individual fans and fan types right now

 

We’ve provided fan retention consulting and research services to sports organizations since the early 2000s, and we’ve found that too often sports organizations get stuck in the mindset only focused on sales and marketing, exclusively using push communications.  But this COVID-19 world requires a longer term mindset.  It requires an understanding that relationships need to be built even when that fan is not experiencing the event itself.
 
Sports organizations need tailored Touch Point Plans to individual fans and fan types right now.  Those Touch Points should be minimal on sales and marketing, and instead maximizing focus on providing information of value and asking customers questions so you can learn about them, their mindset, and their situations.

Get to know your individual fans better now, at this moment.  Get to know how they’re feeling and how those feelings are trending over time.  Understand their anticipated behaviors, and begin addressing those barriers to return…now.  Don’t create your operations in a vacuum, and assume that an open facility will be filled with the same fans that were there months ago.  Get moving on Fan Relationship Development.


Customer for Life – The Final Step – 4/16/19

Posted on in Customer Service Tip of the Week Please leave a comment


Two weeks ago, we addressed the Third Step of keeping a Customer for Life: Address what will keep them. Now, we’re sharing the Fourth and Final Step. To have a Customer for Life, you have to grow your relationship with them.

While the 3rd step is the toughest – since 10 different customers might have 10 different reasons to stay with your business or go – the Final Step is the one most customer service representatives are uncomfortable with, don’t enjoy, or – frankly – can’t stand doing. Why? Because it means we have to ** gulp ** sell.

No!! Not Sell!!

Yes…sell.

Personally, I never enjoyed selling, and I never felt that I was good at it. Part of the reason why I felt that way is because of how I defined “selling.” To me, selling was pushing a product on somebody that didn’t want it. It was starting a conversation that another person did not want to have or did not find useful. It was pressuring somebody into something just to extract money from them. I guess this was my definition because – in various situations in my personal life – this had happened to me. I was thinking of the worst of those personal situations and putting them in a box marked “SELLING.”

But to have a deeper relationship with someone, you need to grow the relationship. You need to seek out the needs that are under the surface and better understand the issues that impact them, and you have to offer support. You have to be willing to go a little further in your understanding of the other person and their issues, needs, and goals so that you can go a little further in helping them as a friend.

If you want a Customer for Life, you have to take that extra step as well. You have to be inquisitive enough to ask deeper questions about the real issues they face and the real goals they’d like to attain. And you’ve got to be willing to not only identify resources that you can offer them to address those issues and those goals, but you’ve got to take the next step and be willing enough to suggest those resources to them.

This is how I got over my aversion to selling. I view it as an opportunity to help somebody through something that my organization can provide. It’s not identifying a product that we have and figuring out who to push it to. It’s taking a deeper interest in what my client is dealing with or trying to achieve, and trying to help them achieve it. Sometimes that aid is in suggesting other resources or giving informal advice, and sometimes it is suggesting that they tap into some of our CSS resources.

To have a Customer for Life, realize you need to be willing to deepen the relationship by asking those more difficult questions and being willing to suggest solutions to the client.

To keep a customer for life, redefine “selling,” and then sell to serve your customers better.

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From Harvard’s Calculator to Your Ears…and Eyes

Posted on in Business Advice Please leave a comment

The Harvard Business School promotes its version of the “Customer Lifetime Value Calculator.” This is a method of determining the true potential financial impact of your customer to your business.

There are 5 main pieces to the impact-calculating puzzle:

· Base profit – Transactional profit

· Profit from increased purchases – Profit from multiple transactions

· Profit from price premium – Profit from willingness to pay more per transaction

· Profit from reduced operating costs – Profit from less expenditures to retain than acquire the customer

· Profit from referrals – Profit from less expenditures to get customers via referrals than marketing/advertising to acquire them

So if this is the financial “Why” of customer retention, what is the “How?” The “How” comes from 3 things:

· First, you have to have what we call a Client Relationship Development (CRD) strategy to continually “touch” and develop relationships with customers over time – even when they’re not spending a dime with you.

· Second, you need to have a Client Experience Management (CEM) strategy – where you build a service and sales experience that hits all the key hot buttons.

· Third, you need a Service Culture that creates the people, processes, attitudes, structures, communications, and general alignment of everything the organization is about…toward the customer.

Calculate your customer’s potential lifetime value, and then create the “How” strategies to tap into those dollars.

Read our New Book – “Ask Yourself…Am I GREAT at Customer Service?” http://www.amigreatat.com/

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