When our customers complain, we turn the other way and call them ignorant or, worst still, idiots. In reality, most customers don’t complain. They take their business elsewhere. New customer acquisition costs about 5 times more than retaining an existing customer.
Encourage your customers to complain, to initiate dialog, and to provide meaningful feedback. These are the customers you need to build a long term, loyal, customer base. Learn to handle their critique with class and an open mind, with an eye towards excellence.
In the word of the distinguished business mogul and philanthropist, Mr. Bill Gates, “Your most unhappy customers are your greatest source of learning.”
About Hemant Rustogi