Each time you lose a potential or existing customer or fail to obtain a referral, there's a reason why. You may not know it, but it exists. That's why getting plenty of feedback from your clients is very important. These people have answers to many important questions. And your success depends upon their approval of and happiness with your performance.
Have you ever used a questionnaire to ask your clients how you could improve? Do you know what your customers like and don't like about dealing with you? Which of your services are valued most by clients? What level of awareness exists with respect to other services? These questions and others need to be answered before you can set your business down the path to success. The only way to get the information you need is to ask your clients. Checking in with customers regularly in order to find out what they're looking for is like doing a quarterly company review -- information is being up-dated in order to ensure the survival of a special relationship.
Here's a great example that illustrates why it's so important to "check in" with your customers regularly:
We recently did what we call a 360 Degree Profile for a very successful financial advisor. He asked us to do a "complete" survey for him; of his customers, staff, potential customers, colleagues, and peer companies. He got very positive reviews overall, but some interesting findings were made. While his associates rated his knowledge very highly, his customers did not consider it one of his strengths. He still got great marks, but fell somewhat short of his clients' expectations. This could not be explained: Those in the best position to judge our client's actual knowledge, his colleagues, had absolute confidence in it. His associates even complained that there were not enough opportunities for them to learn from him. Yet, his clients were - for the most part - less impressed. Obviously, this financial advisor had to develop a strategy, based upon this information, to change a false impression amongst his clients that he lacked knowledge.
Developing a strategy takes more than just research. It takes innovative thinking and comprehensive planning. With this financial advisor, one of our recommendations was that he consider offering training seminars to his associates. A demand was present for this service, and the sessions could be useful for practicing information communication. He now trains other planners with his firm for one hour daily.
His clients are also receiving more educational information in the form of articles, an educational audio cassette, and seminars on various topics of interest. He's generated a lot of new business through referrals since setting his new course. And, things will only get better as his plan unfolds.
This story demonstrates the power of asking your customers what they consider important. Strategies and approaches developed from listening to customer feedback saved our client thousands of dollars in lost business, missed referrals, and customer attrition.
By taking the time to emphasize what your clients like about your business, while changing what they don't like, you can enhance customer loyalty and still manage to grow steadily. Remember, however, that the only way to begin this process is to start asking questions. And, don't expect it to be easy. A lot of the time, people receive negative feedback, and nobody likes hearing that. It's essential to listen however, because, often, that which you'd least like to hear is most important for you to know.
The findings of the Strategic Planning Institute study on customers' complaints are astounding. The study discovered that the average business does not receive complaints from 96% of its unhappy customers. At least 9 out of 10 of these non-complainers will not do business with the company again. On the other hand, of the 4% of unsatisfied customers who launch a complaint, 70% will do business with the company again so long as it is handled properly, and a staggering 95% will do business with the company again if their complaint results in a rapid solution that is beyond their expectations. That's as good a reason as any to find out what your clients have to say.
The feedback you generate conducting a survey can be used to help make positive changes to your business. These changes might even pacify some of your unsatisfied, non-complaining clients -- those most likely to desert you for a competitor. Typically however, if you conduct the survey yourself, expect polite answers; the absolute worst kind. Getting a pat on the back may be nice, but it won't help you serve your clients better. Complete honesty is needed during this exercise -- that's why it can be valuable to have a neutral third party conduct survey research for you. Customers must understand that all responses will remain confidential. Only then can they be totally honest. Making the wrong decision about a policy or service approach because you have misinformation could cost your business both money and customers. This is no just reward for your hard work and good intentions.
In the end, it's all really simple: Ask clear, purposeful questions. Guarantee confidentiality. Implement. If you ask your customers what they want and show them that you've listened by making improvements based on their feedback, they'll give you what you want -- enhanced loyalty, increased referrals, and a better bottom line. The key is to keep asking questions. As long as you know what people want, you can deliver it to them.
If you want a free copy of our report, "The Ten Essential Things You Need To Know About Your Customers," or if you'd like more information about surveying your clients, just call our office in Vancouver at (604) 313-2229, or email your request to info@SynergyGroup.bc.ca. We may not have all the answers, but we'll help you find them.
Do You Know What Your Customers Really Think Of You - To learn more about this author, visit Kevin Lawrence's Website.
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