Have you ever worked out, or even just wondered, how much does it take to win a new customer?
The answer may vary depending on the type of business and other factors. It ranges from 4 to 10 times more than trying to keep an existing one. Sounds like a lot, right? But don’t despair yet. There’s an efficient way how to keep your customers without setting you back much! It’s called treating your customers well. Or, shortly: stick to the Golden Rule–treat others like you would like to be treated. Subsequently, track your NPS – to see the likeliness of your customers recommending you.
It’s a known fact that many customers stay with a company even when there are cheaper options on the market because they like the way the company treats them. A positive attitude makes up for the difference in cost – excellent customer service is invaluable. And measuring its quality is a must if you would like to save your marketing costs and win new clients using your existing clients’ referrals.
That’s where following your NPS comes in handy!
You may find that the ratio between the cost of measuring your NPS doesn’t even equal the cost of winning one single customer via using traditional marketing tools. The NPS results also give you an excellent idea of what you need to work on in your product.
Asking for customers’ ideas also makes them feel like you care and are willing to take a step toward increasing their happiness.
When you consider it, bear in mind that statistics show that 68% of clients opt out because they believe the company doesn’t care about them. A takeaway: just show your customers you care and retain the 68%.
Asking your customers how satisfied they feel after resolving a support ticket can significantly increase the NPS they give you.
Still, tracking customer satisfaction is relatively rare. That’s why it could even win you new customers because your clients might brag to their family and friends about having the opportunity to give feedback.
Stay tuned to learn more about NPS.