Let’s examine these points in more detail.

It is safe to say that it is far more profitable and far less costly to keep the customers you have by building their loyalty, than it is to keep replacing them with new customers.

Determining what it costs to acquire customers is a bit intangible for most people. As you can imagine, at lot goes into getting customers to walk into your place of business or call you. Advertising, merchandising, promotions, premises expense, phone systems, salaries and so on are costs associated in part with getting customers.

Someone

Virtual Business Cards: Using Virtual Stationery in Networking and Business
Have you ever been in a situation where you ran out of business cards to give out, or simply forgot to bring it along? In these types of situations you might feel slightly foolish or incompetent when a new contact hands over their business card. You may also be looking for a way to maintain posture.You can save the situation by sending the contact a virtual business card once you get back to your office or home. You could, if you have a blackberry or an email enabled cell phone, instantly send an already programmed email message to their inbox in seconds while you're still at the event. Virtual business cards are quickly gaining popularity amongst business owners and professionals.Virtual business cards are simply business cards in a digital format.Virtual business cards are impressive and makes it easier for your prospects to remember you. A prospect is more likely to contact you if you have a distinguishing factor. Images sell and if you use a virtual business card with your picture on it, Your prospect or contact will remember you more than the business person that just sends an email message.Even if you give someone a physical business card, they might drop it in the nearest bin or flowerpot the second you move on to mingle wit

This is the first in a series of short articles about understanding why customer focus is strategically important, what it means to be truly customer-focused and how to create or improve customer focus in your organization. This article presents a simple business case for the strategic importance of creating greater customer focus. Many excerpts are taken from the book, That’s Customer Focus! We hope you find in interesting and helpful.

Most of you will probably recognize this soliloquy from Shakespeare’s Hamlet

To be, or not to be: that is the question:

Whether 'tis nobler in the mind to suffer the slings and arrows of outrageous fortune,

Or to take arms against a sea of troubles,

And by opposing end them?

To die: to sleep;

No more; and by a sleep to say we end

The heart-ache and the thousand natural shocks That flesh is heir to, 'tis a consummation

Devoutly to be wish'd.

To die, to sleep;

To sleep: perchance to dream: ay, there's the rub;

A popular interpretation of the speech suggests that it is a debate on suicide. Hamlet considers the attractions of death (not to be), which he refers “to a sleep”, over life (to be), where pain seems unavoidable. But in the end he decides that; his fear of possible suffering in the afterlife as opposed to the known evil that is life stops him from actively ending his existence.

What has this got to do with Customer Focus?

Based on the unacceptably high levels of poor or mediocre customer service, prevalent across North America and other parts of the globe, it appears that many companies seem to favor “not to be”. The evidence we have to support this view surrounds us. Everyone of you, that has taken the time to read this article, for which we thank you, has undoubtedly experienced poor or mediocre service personally if not today, than very recently.

If you will allow me a little poetic license, with the first few lines of Hamlet’s immortal speech;

To be Customer-Focused, or not to be Customer Focused that is the question:

Whether it ‘tis better to do what is necessary to reap the benefits of being truly customer-focused

Or maintain the status quo and do nothing but continue to handle customer complaints, put up with customer churn and operational inefficiencies

And by doing nothing?

Commit long-term corporate suicide...

Customer Focus Is Not an Option!

Everywhere you turn, Corporate Head Offices extol the virtues of service but when it come down to it, most of the time they are really paying accelerated lip service to this the importance of service.

This is very curious, particularly when you consider the number-one reason why that small number of service leaders, you know, those few companies where the service is almost always really great, consider customer service a.k.a. customer focus to be a critical business strategy.

What is the Number 1 reason you ask?

Customer Focus is a Profit Strategy!

This happens in a couple of ways. Truly customer-focused companies have loyal customers. Loyal Customers:

• buy more,
• cost less to serve because they know your processes,
• tell you when things go wrong so you can fix the problems and
• tell their friends, family and associates about how great you are and as a result you get more customers.

Also, customer-focused companies are more productive. Employees are motivated, and perform their jobs more effectively.

Re-work, duplication of effort and mistakes are significantly reduced. These all cost you money in terms of time spent, money spent, loss of productivity and loss of business.

Your turnover also reduces so you keep your staff longer and don’t experience down-time, productivity losses and employee morale related issues.

If you are still not convinced, consider the following:.

1. It’s 5 times more expensive to attract a new customer than to keep an existing one.
2. About 75% will do business again if the problem is resolved to their satisfaction.
3. 90 to 95% will do business again if the problem is resolved on the spot.
4. Customers are willing to pay for quality service.
5. An increase in customer loyalty will have a direct positive impact on your bottom line.
6. The cost of poor service has a direct, negative impact on your bottom line.

Let’s examine these points in more detail.

It’s 5 times more expensive to attract a new customer than to keep an existing one.

It is safe to say that it is far more profitable and far less costly to keep the customers you have by building their loyalty, than it is to keep replacing them with new customers.

Determining what it costs to acquire customers is a bit intangible for most people. As you can imagine, at lot goes into getting customers to walk into your place of business or call you. Advertising, merchandising, promotions, premises expense, phone systems, salaries and so on are costs associated in part with getting customers.

Someone

Document Shredders
Document shredders are used to shred documents into unrecognizable pieces. They are widely used in offices, and businesses. Most offices destroy their secret documents after use. Document shredders can prevent the leaking of secrets of business. They can be used to shred personal checks, expired licenses, bank statements, receipts of all kinds and medical records. The selection of document shredders depends on the level of security.Document shredders consist of a pair of rotating blades, a paper comber, and a motor. Document is fed between the two blades. The document is split into many small pieces by the force of blades. The shred pieces of document are held in containers. Low-end document shredders do not have containers with them. Most expensive document shredders are equipped with containers. Some document shredders are equipped with a plastic bag. The capacity of a document shredder is measured in terms of the amount of document that can shred at a time.Document shredders shred documents using different shredding methods such as strip cut, crosscut and ultra security cut. Strip cut method is used for large volumes of shredding. By this method, documents are cut into long thin vertical strips. Document shredders that employ strip cut are less

dream: ay, there's the rub;

A popular interpretation of the speech suggests that it is a debate on suicide. Hamlet considers the attractions of death (not to be), which he refers “to a sleep”, over life (to be), where pain seems unavoidable. But in the end he decides that; his fear of possible suffering in the afterlife as opposed to the known evil that is life stops him from actively ending his existence.

What has this got to do with Customer Focus?

Based on the unacceptably high levels of poor or mediocre customer service, prevalent across North America and other parts of the globe, it appears that many companies seem to favor “not to be”. The evidence we have to support this view surrounds us. Everyone of you, that has taken the time to read this article, for which we thank you, has undoubtedly experienced poor or mediocre service personally if not today, than very recently.

If you will allow me a little poetic license, with the first few lines of Hamlet’s immortal speech;

To be Customer-Focused, or not to be Customer Focused that is the question:

Whether it ‘tis better to do what is necessary to reap the benefits of being truly customer-focused

Or maintain the status quo and do nothing but continue to handle customer complaints, put up with customer churn and operational inefficiencies

And by doing nothing?

Commit long-term corporate suicide...

Customer Focus Is Not an Option!

Everywhere you turn, Corporate Head Offices extol the virtues of service but when it come down to it, most of the time they are really paying accelerated lip service to this the importance of service.

This is very curious, particularly when you consider the number-one reason why that small number of service leaders, you know, those few companies where the service is almost always really great, consider customer service a.k.a. customer focus to be a critical business strategy.

What is the Number 1 reason you ask?

Customer Focus is a Profit Strategy!

This happens in a couple of ways. Truly customer-focused companies have loyal customers. Loyal Customers:

• buy more,
• cost less to serve because they know your processes,
• tell you when things go wrong so you can fix the problems and
• tell their friends, family and associates about how great you are and as a result you get more customers.

Also, customer-focused companies are more productive. Employees are motivated, and perform their jobs more effectively.

Re-work, duplication of effort and mistakes are significantly reduced. These all cost you money in terms of time spent, money spent, loss of productivity and loss of business.

Your turnover also reduces so you keep your staff longer and don’t experience down-time, productivity losses and employee morale related issues.

If you are still not convinced, consider the following:.

1. It’s 5 times more expensive to attract a new customer than to keep an existing one.
2. About 75% will do business again if the problem is resolved to their satisfaction.
3. 90 to 95% will do business again if the problem is resolved on the spot.
4. Customers are willing to pay for quality service.
5. An increase in customer loyalty will have a direct positive impact on your bottom line.
6. The cost of poor service has a direct, negative impact on your bottom line.

Let’s examine these points in more detail.

It’s 5 times more expensive to attract a new customer than to keep an existing one.

It is safe to say that it is far more profitable and far less costly to keep the customers you have by building their loyalty, than it is to keep replacing them with new customers.

Determining what it costs to acquire customers is a bit intangible for most people. As you can imagine, at lot goes into getting customers to walk into your place of business or call you. Advertising, merchandising, promotions, premises expense, phone systems, salaries and so on are costs associated in part with getting customers.

Someone

History of Vending Machine
What is a vending machine? The definition of vending quoted from Dictionary.com: To sell by means of a vending machine. While definition of vending machine quoted from Wikipedia is:A vending machine is a machine that dispenses merchandise when a customer deposits money, validated by a currency detector, sufficient to purchase the desired item (as opposed to a shop, where the presence of personnel is required for every purchase). Usually, the machine may consist of a big rectangular-shaped box, standing up, that has a place to insert coins or bills into the machine. Merchandise to sell is placed in the vending machine and when a customer inserts adequate money and select the item he or she wants, the vending machine will automatically release the item through a special hole that is found at the lower part of the machine.Do you know the history of vending machine? Vending machine has a long history and let's learn about it: 215 BC, the ancient Greeks invented an urn and placed it in an Egyptian temple, which dispensed a certain amount of holy water. It was considered as the first vending machine. Early of 1880s, the first coin operated vending machines were invented in London. They w

not to be Customer Focused that is the question:

Whether it ‘tis better to do what is necessary to reap the benefits of being truly customer-focused

Or maintain the status quo and do nothing but continue to handle customer complaints, put up with customer churn and operational inefficiencies

And by doing nothing?

Commit long-term corporate suicide...

Customer Focus Is Not an Option!

Everywhere you turn, Corporate Head Offices extol the virtues of service but when it come down to it, most of the time they are really paying accelerated lip service to this the importance of service.

This is very curious, particularly when you consider the number-one reason why that small number of service leaders, you know, those few companies where the service is almost always really great, consider customer service a.k.a. customer focus to be a critical business strategy.

What is the Number 1 reason you ask?

Customer Focus is a Profit Strategy!

This happens in a couple of ways. Truly customer-focused companies have loyal customers. Loyal Customers:

• buy more,
• cost less to serve because they know your processes,
• tell you when things go wrong so you can fix the problems and
• tell their friends, family and associates about how great you are and as a result you get more customers.

Also, customer-focused companies are more productive. Employees are motivated, and perform their jobs more effectively.

Re-work, duplication of effort and mistakes are significantly reduced. These all cost you money in terms of time spent, money spent, loss of productivity and loss of business.

Your turnover also reduces so you keep your staff longer and don’t experience down-time, productivity losses and employee morale related issues.

If you are still not convinced, consider the following:.

1. It’s 5 times more expensive to attract a new customer than to keep an existing one.
2. About 75% will do business again if the problem is resolved to their satisfaction.
3. 90 to 95% will do business again if the problem is resolved on the spot.
4. Customers are willing to pay for quality service.
5. An increase in customer loyalty will have a direct positive impact on your bottom line.
6. The cost of poor service has a direct, negative impact on your bottom line.

Let’s examine these points in more detail.

It’s 5 times more expensive to attract a new customer than to keep an existing one.

It is safe to say that it is far more profitable and far less costly to keep the customers you have by building their loyalty, than it is to keep replacing them with new customers.

Determining what it costs to acquire customers is a bit intangible for most people. As you can imagine, at lot goes into getting customers to walk into your place of business or call you. Advertising, merchandising, promotions, premises expense, phone systems, salaries and so on are costs associated in part with getting customers.

Someone

Document Shredders and Their Features
Why should I get a document shredder? How much should I spend on a document shredder? What features are available and what is the best document shredder for my type of business? These are some of the questions I will answer for you in this article.First, why should I have a document shredder for my business or for my own personal use? The answer is easy. Every day more crime relating to stolen or found documents is occurring. Fraud, Identity Theft, Corporate Espionage, Con Games, and Forgery are some of the examples of crime that can happen to anyone, any time.The information contained in your documents may not seem like the stuff in spy movies, but the threat to you individually as well as to your business exists. Your documents contain a lot of things you take for granted. Sensitive information about upcoming plans, stock options, and other business related material can be a bonus to thieves. Thieves, to steal your identity, can use your personal information like mother’s maiden name, social security number, credit card and pin numbers, birth date and more.There are many reasons why document security is important. There are other aspects to document security that are important as well, but in this article we will remain on the topic of doc

of ways. Truly customer-focused companies have loyal customers. Loyal Customers:

• buy more,
• cost less to serve because they know your processes,
• tell you when things go wrong so you can fix the problems and
• tell their friends, family and associates about how great you are and as a result you get more customers.

Also, customer-focused companies are more productive. Employees are motivated, and perform their jobs more effectively.

Re-work, duplication of effort and mistakes are significantly reduced. These all cost you money in terms of time spent, money spent, loss of productivity and loss of business.

Your turnover also reduces so you keep your staff longer and don’t experience down-time, productivity losses and employee morale related issues.

If you are still not convinced, consider the following:.

1. It’s 5 times more expensive to attract a new customer than to keep an existing one.
2. About 75% will do business again if the problem is resolved to their satisfaction.
3. 90 to 95% will do business again if the problem is resolved on the spot.
4. Customers are willing to pay for quality service.
5. An increase in customer loyalty will have a direct positive impact on your bottom line.
6. The cost of poor service has a direct, negative impact on your bottom line.

Let’s examine these points in more detail.

It’s 5 times more expensive to attract a new customer than to keep an existing one.

It is safe to say that it is far more profitable and far less costly to keep the customers you have by building their loyalty, than it is to keep replacing them with new customers.

Determining what it costs to acquire customers is a bit intangible for most people. As you can imagine, at lot goes into getting customers to walk into your place of business or call you. Advertising, merchandising, promotions, premises expense, phone systems, salaries and so on are costs associated in part with getting customers.

Someone

Why Print Advertising Gives Dismal Results in Newspapers
Have you ever wondered as a business-person why print advertising in the local newspaper key of such dismal results? Have you ever wondered why the advertising sales representatives and account executives as they are called continually tell you that it is about exposures and repetition? They tell you this as you give them a check each month for the advertising that never really pulls for you.Of course as they say Yellow Page Advertising is not much better and that bill comes every month also and often if it is the phone company, the actual phone book you will find that they may shut off your phone if you don't pay them. Of course they have you committed for the full year and the book is already printed. But as the year goes fewer and fewer people use the phone book, because the dog ate it or it was destroyed or they spilled something on it.The fact is that most print advertising even with high shelf life as they say in the yellow page advertising salesmanship handbook, simply does not pull. Newspapers are horrible and Yellow Page Advertising is not much better. Inserts in the newspaper often work, direct mail generally works, radio seems to work, hack just about everything seems to work except print advertising. Why is that?I believe

tisfaction.

90 to 95% will do business again if the problem is resolved on the spot.

Customers are willing to pay for quality service.

An increase in customer loyalty will have a direct positive impact on your bottom line.

The cost of poor service has a direct, negative impact on your bottom line.

Let’s examine these points in more detail.

It’s 5 times more expensive to attract a new customer than to keep an existing one.

It is safe to say that it is far more profitable and far less costly to keep the customers you have by building their loyalty, than it is to keep replacing them with new customers.

Determining what it costs to acquire customers is a bit intangible for most people. As you can imagine, at lot goes into getting customers to walk into your place of business or call you. Advertising, merchandising, promotions, premises expense, phone systems, salaries and so on are costs associated in part with getting customers.

Someone has to pay for this. Normally payment comes through the proceeds of revenue you get from the sales of your products and services. Sometimes we tend to take this for granted.

Say for example, the cost to your company to acquire a customer was $500.00. If you lose that customer your investment of $500.00 is gone. What is of greater concern is that the cost to replace that one customer is now $2,500.00 (5 X $500.00). What is you lose 100 customers? That’s got to hurt your business!

Research has proven that once you have a customer, your cost of keeping him/her drops dramatically over time. When you lose a customer you will inevitably incur a higher cost to replace the one you lost.

Assuming your cost to acquire a customer is $250 and based on the fact that it is 5 times more expensive to acquire a new one, your new customer acquisition cost would be $1,250 for each new customer required to replace one that defected. Let’s be ultra conservation and say that you lose 20% of your customer base due to service defection, (if you are not truly customer-focused, it could be even higher), then based on the example above the annual cost to replace 20% of your customer base would be $62,500. Over five years this cost would be $312,500 and you would have turned over all your customers in that period. Can you think of any better uses for the $312,500?

About 75% will do business again if the problem is resolved to their satisfaction.

90 to 95% will do business again if the problem is resolved on the spot.

Since mistakes are guaranteed to happen, how you recover from these mistakes will significantly impact on whether the customer will do business with you again. It is important to note that research suggests that if you recover well, your customers will stay with you. The faster you recover, if you can resolve the issue “on the spot”, your customers will be impressed and in all likely-hood reward you with their continued business.

Customers are willing to pay for quality service.

In a series of polls we conducted last year with about 1000 course participants, we asked where would they would prefer to spend their money.

Here’s what they said;

Where would you prefer to spend your money?

High Quality, Excellent Service, High Price 34%

High Quality, Excellent Service, Low Price 36%

Average Quality, Average Service, Average Price 2%

Low Quality, Poor Service, Low Price 15%

Non-committed 13%

These results compare very favorably with research we have reviewed that suggests that the vast majority -70%, of customers are willing to pay for high quality service. Obviously price is a variable, but service is a constant.

An increase in customer loyalty will have a direct positive impact on your bottom line.

Harvard Business Review conducted research which reveals that a 5% increase in customer loyalty can result in a return of 25% to 125% directly to the bottom line depending on your industry. It is safe to assume that investing time and resources to retain even a small number of your clients would pay for itself. You can do the math. Be conservative and take your gross profit and increase it by 25%.

The cost of poor service has a direct, negative impact on your bottom line.

Consider the time and expense associated with fixing problems, dealing with customer concerns, replacing product, re-working reports, and so on. Research from TARP (Technical Assistance Research Programs) indicates that, based on your industry, the cost can be significant.

The Cost of Poor Quality Service

Manufacturing Industry 20% - 25% of sales revenue

Service Industry 30% - 35% of overhead costs

Pick one of these two and do the calculation.

Wouldn’t you like to have this as profit, rather than as an expense?

To quote our friend Hamlet once again

To sleep: perchance to dream: ay, there's the rub;

In today’s highly