Did you know that the average company loses more than half its customers every 4 years? Why?
It's simple. Most companies start to think they're more important than their customers. And they get greedy, too. That's when they try to stick it to their customers in ways they don't think their customers will notice. I'm talking about excessive fees on things like hotel phone bills... rental-car gas charges... credit card fees, to name a few.
Or they cut customer benefits while raising prices. What happens? Customers start to feel ripped off and they look for alternatives. And once they're gone, they're near impossible to get back.
That's just dumb. Yet it happens all the time.
Some companies, however, have kept the "customer experience" front and center. Remember the Starbucks example? Or take Apple for instance, they pride themselves on dreaming up what customers want before they know it...
Source: The Motley Fool Dec 2006
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