Your Customers Are Made of Money

I HAVE to break this to you, businesses cannot survive without customers. A business without customers is like a well without out water. Good customer service is the ground water that fills up your well. You’re high and dry without a reputation for taking care of your customers. Plus, the longer you keep customers, the wetter your well, because long term customers are more profitable. A 5% increase in customer retention can boost profit by 25% to 125%

Not digging the well analogy? Here is another way to think about it; your customers are money, gold to be exact, because they appreciate in value as time goes on. You may not think of customers as goods that can be bought or traded, but they’re assets to your company, just like stock investments or an office computer. They are them most vital part of your business’s economic machinery.

You pay hard-earned business capital to market to your customers, you essentially buy their patronage, one person at a time. Once bought, a customer will continue to generate your income, without much further advertising effort. On the flip side, customers who leave take with them every cent that you invested in marketing to them.

Customer retention is FREE MONEY! If you go the extra mile to keep customers, your marketing budget will go down, and your profits will go through the roof. You’ll have to ‘buy’ less new customers, and loyal customers generate some powerful word-of-mouth patronage.

Losing customers has the opposite effect, and can be truly devastating. And, you have no excuse for customers walking away from your business because of poor service, it’s the most controllable factor of your business. Technology can fail, accounts can pay late, but there is no reason to be rude or inattentive to a customer.

One way to gear up for fantastic customer service it to train employees to see each customer for how much they’re really worth. They may treat customers a bit differently if they imagined them as giant stacks of money or piles of gold. Each retained customer is (literally) money in the bank.

This question is almost impossible to answer, because technology is changing at such a rapid pace and the bad news for you if you were planning to predict the future trends; the velocity is increasing at an exponential rate.

Terms such as “Social media”, “Facebook”, “Blogging”, “iPhone Applications”, “Convergence technology” which didn’t exist 5 years ago are now commonplace. A bevy of so called “Social media experts” are only a click away should your business need assistance and/or advice in this realm.

What did we do without this technology, and do we really need it? Is it an indulgence?

Take the Domino’s Pizza iPhone Application for example:

It’s a Pizza store in your pocket!

Ordering pizza pastas desserts and sides for pick up or delivery has never been easier, and most of all it’s fun. Order it anywhere anytime. It’s that simple. No registering online first, just download the app and you’re ready to go. Whether you are using it for the first time or the hundredth time placing an order is easy.

It’s your choice. Hot pizzas, pastas and salads or extras such as drinks and desserts. Fancy a pizza? View your pizza selection easily with the turnstile function. Found one you like? Tap the pizza to choose. A different screen will show you more details about the pizza.

In this screen you have the choice to select the number of pizzas you want, as well as the options to change the pizza base sauce, crusts or toppings, don’t want tomato but would like olives instead, no problem!

Finished customizing tap add to order and you will be taken back to the main menu to continuing ordering or complete your order. Your order details will update at the bottom of the screen in the ‘my order’ icon and will show how many item’s you’ve ordered and what the price is so far.

Finished, did you get everything?

Once you’ve finished, placing your order is easy. Select place your order and you’ll be taken to the payment page. Will it be cash or credit? Once you’ve selected place your order now your order will be sent to store and an order confirmation page will appear.

Once your order’s been placed with the store, you can track your order using the pizza tracker. See exactly when your order is being made when it’s cooking when it’s ready for pick-up is or when it’s on its way to your door. Keep your iPhone handy, track it and enjoy it.

What’s next, and will you and your business be at the forefront of technology or scratching your head wondering what the phone number for your local pizza shop is?

This app is only available at Domino’s Pizza thru iTunes.
For more information visit www.dominos.com.au

Contact us and get your competitive edge back. Customer service is the cornerstone of a successful quick service retail business. Without great staff, you’re fragile and vulnerable to a competitor who can quickly steal your clients. Don’t let that happen. Bullet-proof your business while you have more fun enjoying the process!