3.1 The Impact of Customer Care: A General View
Companies have learned the tough way that improper client service costs them a lot of money. Marketing studies show that it costs more to win a new client than to keep the existing ones. Thus, the main goal of all businesses is to win loyal customers. A loyal customer is a person that returns to your services over and over again. The budget that companies typically spend on winning new buyers, and not necessarily on turning them into loyal customers, could be directed towards training employees and thus obtaining a skilled client service system. Furthermore, the budget can be used in restructuring the business culture in order to be customer-focused. A customer-focused business can keep up with the rapid changes of the market; it innovates and comes up with practical solutions for its clients.
The client is a dynamic entity that changes rapidly. Before, the customer was considered the source of money and that money had to be attracted by businesses. Today, the customer is the person that can grow your business or lead it to bankruptcy.
How can the customer grow or damage your business?
The buyer is not only a source of money; based on present marketing strategies, the buyer is also the judge of your services. Whether your business is good or not – the client decides that. With this in mind, the development of a business depends very much on the customer’s opinion. Improving your company’s culture to keep customers happy for a long time is the key to a successful business.
The customer’s impact on business growth
Depending on the image a business creates in the mind of its clients, we can envisage the type of management that leads the business. However, these two factors are not sufficient to predict the evolution of a business. It’s very important to maintain a good image and therefore keep customers happy. When you succeed in keeping the customers happy for a long time, your management culture is encouraged to be more flexible and creative.
In order to keep clients happy, companies must implement cost-effective planning combined with a thorough customer-centric approach. When a buyer is satisfied only for short periods of time, it results in fluctuations and unstable business growth. If we add to that rigid company policies and the high costs of inadequate marketing strategies, the company may end up in bankruptcy. Not paying attention to your customers will bring you loss of budget and loss of reputation, which eventually leads to the loss of business.