Every small business tip should help you build rabid fans. Why? If customer loyalty is crucial to generating repeat revenues over time, then managing expectations is non-negotiable.
Here’s an example of what to avoid. My office is right across the street from the Empire State Building. There’s an Au Bon Pain in the building and I often go there to pick up a quick salad or soup for lunch. A week ago, it was cold in New York, and they had a very inviting sign promoting their chicken chili.
It had vegetables like corn and zucchini in a rich tomato broth. The chicken looked fresh and inviting.
Perfect! A wonderful choice that would be filling, satisfying to my taste buds while keeping unneeded calories at bay.
Salivating yet?
When it was my turn to order that scrumptious meal-in-a-bowl, I was abruptly told they’re not selling that today. Huh?
Then why were pictures of the stuff prominently displayed EVERYWHERE in the store? They were at the checkout counter and by the entrance to the store.
I walked out. They lost a sale. They lost more than that. They lost credibility.
Something as simple as taking down a sign when you’re no longer promoting something is not just a good idea.
It maintains your integrity with your customers. It’s also good business hygiene.
How many times do we promote something and forget to change the web page or change the brochure after it’s over?
When you promote something, you’re offering a promise to your customers.
This small business tip reminds you, don’t break your promise.
If you break your promise often enough, it will destroy your reputation. It will also destroy your revenues.
Communicating clearly, completely, and on a timely basis the things your customers care about is the best small business tip we can offer you.
If you lose as little as 5% of your loyal customers over time, it can cost you 25% to 85% in your bottom line.
That’s right. If you lose a measly 5% of profitable customers, it can literally wipe out your bottom line.
Little things, like managing customer expectations, can have a big impact.
You know this. But do you practice it? Do your staff members, including your part timers and subcontractors practice this small business tip? It really matters.
And it’s so easy to implement. You just need to bring your corneas to work.
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