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Talk About Yourself to Build Customer Confidence - 4/16/24


When you’re dealing with somebody who is anxious or nervous about a situation, a customer who feels like they don’t have much control, an individual who is unsure and uncertain, it’s important to put the customer at ease.  It’s important to build their comfort level.  It’s important to help Read more

The Proven Value in What You Do - 4/9/24


Forbes wrote an article last year based on a compilation of the results of research on customer service and the customer experience; it was titled:  100 Customer Experience Stats For 2023. In reading the article, you’ll note that many of these key research findings are about you – the value Read more

A Tale of Two Texts - 4/2/24


Having to get allergy shots once a week is never fun, and for Janet, it became an even bigger frustration. She had the shots typically scheduled on Tuesday around 10:30 in the morning, figuring she would avoid the morning rush as well as the lunch rush by going mid-morning.  However, Read more

The Secret Sauce for Great Customer Service - 3/26/24


I was working with the League Office for a major American sport several years back, and one of the executives asked me to describe our Secret Sauce that helped our clients improve the fan experience and customer retention.  I gave him a sense of what makes us unique and Read more

The Miracle of an Apology - 3/19/24


Unfortunate but true story… The manager basically lost his mind.  He terminated his employee on the spot.  She had told the customer that there was going to be a delay in the shipment.  The employee called up the customer ahead of time to let the customer know what was about Read more

It’s Not About the 5-Minute Wait - 3/12/24


Robert went into his supervisor’s office to update her on a situation at the payment desk.  Robert said that a customer was about fourth or fifth in line, waiting to be served, and the customer was complaining loudly about the wait.  He was there to make a property tax Read more

Lessons from the Greats - 3/5/24


I was recently facilitating a workshop on the customer experience, and I made the point that it’s usually beneficial to look at your personal life for great experiences; identify what really resonates with you in a positive way in order to uncover ideas to improve your own customer service. So, Read more

The Empathy Roadmap - 2/27/24


For some people, empathy comes naturally.  There’s an innate desire to learn about the other person and to sincerely convey that sense of interest and caring.  But for many of us, sometimes it helps to have a communication plan.  It helps to know what to do in order to Read more

“You’re the Boss” - 2/20/24


Terrence is excellent at what he does.  From a technical standpoint, he knows how to keep the facility clean.  He’s the lead custodian, and he knows that keeping things straight does not necessarily mean keeping things sanitary.  He knows what chemicals to use and not to use, how to Read more

Customer Understanding Leads to Relationship Growth - 2/13/24


We’ve worked with educational organizations at all grade levels over the years.  One special and unique characteristic about the staff who work in these organizations is that there’s a clear intent to know about the students as individuals, to focus on them rather than purely focusing on what’s delivered Read more

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You, Your Car, and Customer Retention

Posted on January 19, 2012 in Business Advice, World of Customer Service Please leave a comment

A recent J.D. Power study on retention among automobile manufacturers noted that Hyundai has the best customer retention – a 64% rate. The industry average was only 49%. So that means that only half of you (and me) buy the same brand of car that we’re replacing. Yikes! If that’s not a red flag to businesses, I don’t know one.

Take this perspective (more numbers…). Hyundai sold 645,691 vehicles in 2011. At a 64% retention rate, that’s equivalent to a 36% loss rate. So when those 2011 vehicles are turned in by owners for their next vehicle, 232,449 of them will not be a Hyundai.

If I wanted to create a revenue-generating job at Hyundai, it would be “Chief Retention Officer.” The CRO would be in charge of trying not to lose as many of those 232,449 customers as possible. If he saved just 1% of them, he’d generate over $30 million for Hyundai. Keep in mind that we’re talking about the BEST automotive manufacturing company there is at customer retention.

Now, look at your own company, your own business. Who is your CRO? Who has the authority to do the research and create the strategy to generate your additional revenue by reducing customer loss? Who has the capability to design the training and customer relationship development approach to increase loyalty?

Find a CRO so you can crow about your retention.

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

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