A widely quoted statistic gets to the heart of the value proposition behind customer service: The cost of acquiring a new customer is five times that of retaining an existing one. For businesses that succeed by forming a bond with the customer, the disparity is surely even greater.

Good customer service is essentially a variation on the golden rule: You want to meet the same expectations you would have if you were the customer. The basic things will never change. If people believe that they're being remembered and are known to the business, that will have a positive impact on their disposition toward your business.

Providing good customer service is often a matter of common sense, but that doesn't mean it comes naturally to all business owners. For some, in fact, it means behaving differently than they do in other business situations. If you are used to fighting over every detail of a business deal, you may have to adjust your attitude.

Caring for customers is most important. If you are enthusiastic and courteous, the problem will suddenly become considered half as big by the customer.

Always try to resolve customer disputes. It's bad enough when a customer is unhappy with your product or service, but if the attempt to redress the problem is frustrating or fruitless, it makes matters much worse. A satisfied customer may tell one or two friends about your company, but an angry customer might tell a dozen.

Still much could be written about this topic. However, regardless in what industry you are in, make sure that good customer service receives a high priority in your business concept!

Best Regards
Andrzej Wojtas (Ph.D.), Chief Editor of MFN, E-mail: andrzej@mfn.li

Author: Andrzej Wojtas