Saturday, June 30, 2007

Lost Customers and Profitability

Losing customers is generally a symptom of problems somewhere in the organization that need to be addressed. Every customer that goes elsewhere takes a piece of your bottom line with them. We stress customer service so heavily because of this fact. Customer service is a bottom line issue. When management has the attitude that "we can replace that customer with another one" or "we have plenty of customers", the company has a mentality that runs counter to optimal bottom line performance. Do you track your customer base and look at purchase history and average length of tenure as a customer? Analyzing your customer base will often uncover problems that need to be corrected. Take every customer seriously and look at them as a piece of your bottom line. Keep in mind that businesses erode their bottom lines by not paying close enough attention to customer retention activities and the level of service provided.

Good Luck & Good Selling!
Russ

2 comments:

Anonymous said...

Hi There Ross,

My name is Buzi and based in South Africa. I am so passionate about being successful in the sales and marketing career. I have a very good financial background and do not wish to retire in Finance. I consider myself as someone with a great business mind. Do you perhaps have material that i can buy i.e. Video's, presentations or any that you would recommend?

Kind Regards

Russ Lombardo said...

Hello, Buzi. Thanks for your interest. I do have several tools that might help. Try checking out our Sales Snippets, which is on-line training of short segments. You can find them at:
http://www.peaksalesconsulting.com/Sales-Snippets-Training.htm

Also, we offer a full, on-line training seminar series at:
http://www.peaksalesconsulting.com/Self-Paced%20Sales%20Training%20Descriptions.htm

I hope this helps and good luck with your career.

Good Luck & Good Selling!
Russ Lombardo