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Who’s the Boss? The Answer May Surprise You

Written by: Kerri Salls

Article Overview: As Sam Walton said: “There is only one boss - the customer – and he can fire everybody in the company from the chairman on down simply by spending his money somewhere else.”

Who’s the Boss? The Answer May Surprise You

Remember the old Tony Danza sitcom with Judith Light, Alyssa Milano and Danny Pintauro? It was all about role reversal.

Who’s the boss in your business? It should be you, right? After all, you hold the reins of leadership, you hold the purse strings, and you have final say on everything. Think again.

Why are you in business? Yes, we are all in business to make money – however you phrase it. Yet, if that is your first or only objective, it’s hard to sustain the effort, the team, and the growth -- just to make more money.

I’m suggesting that you are not the boss – your customers are. That’s the role reversal.

Consider the following common factoids:

- If your company fails to nurture your existing customer base, your business will pay the price. You will also be limited in your ability to attract new clients if you can't hold onto and satisfy your existing customers and clients.

- Repeat customers spend 33% more than new customers.

- Referrals among repeat customers are 107% greater than non-customers.

- It costs six to eight times more to sell something to a prospect than to sell that same thing to a customer.

- Nurturing your existing client base is a strategy that will move you forward in increasing your sales by 50% without increasing your budget.

Customer service excellence is not the same as indulging every client whim; it’s not even in the same category.

If you want them to buy more and buy more often, what must your clients have? It all comes down to customer service.

• They must have a constant desire to do business with you.
• They must be so satisfied with your product and service that they don't look elsewhere.
• They must feel important.
• They must feel appreciated.
• They must feel that you are indeed looking out for their best interest not just your own pocketbook.
• They must feel heard when they voice a need or a problem to you.
• They must feel safe in your expertise, guidance, and confidentiality if you provide a service.
• They must feel safe and confident in the reliability, stability and economics of the product you offer.
• They must be so satisfied with you, your people, the product you provide or the service you deliver, that they refer new prospects to you constantly.

As Sam Walton said: “There is only one boss - the customer – and he can fire everybody in the company from the chairman on down simply by spending his money somewhere else.”

Therefore, it’s your job to ensure this level of satisfaction, belief and comfort is instilled in each client you cultivate and then maintain.

It is not a one shot deal. You need them to know without a shadow of a doubt that you are always thinking about them and that you put their best interest above your own.

If you have a system in place to provide world-class customer service – great! If you don’t, implement one now, document it, and instill it in everyone in your business. The client is your boss.

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Article Tags: boss, clients, customer service, customer service excellence, customers, owner



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