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Service is Your Best Marketing Strategy: 5 Quick Tips

Fivestars
Fivestars

In 2011, seven out of ten Americans said they were willing to spend more with companies that they believe provide excellent customer service. Learn 5 quick tips to make sure your small business' customer service is top notch.

1 of 20
Service Is Your Best Marketing
Strategy
Experts agree that loyalty is the most
effective and highest return marketing
Retailers with loyalty programs, on average,
are 88% more profitable than competitors
who do not.
DELOITTE RESEARCH SURVEY
Customer loyalty is the single most important driver
of growth and profitability.
HARVARD BUSINESS REVIEW
It is 6 to 7 times more to acquire a new
customer than to retain an existing one.
BAIN & COMPANY
Loyalty marketing is more relevant
today than it has ever been
• Your biggest asset is your existing customer base and foot
traffic
• Data shows that loyalty programs can increase customer
visits by 20 percent or more
• With social media, each of your customers can now share
your brand with hundreds of others
• Technology can now automate most of your loyalty
marketing needs
• It’s marketing that’s fun and makes sense!
Loyalty marketing ROI is traditionally driven by
increasing visits, spend, and response to promotions
Visit go.fivestars.com/loyaltyguide to learn more
Framework for Calculating Loyalty Return
Visit
More
Frequently
Spend More
Per Visit
Participate
in
Promotions
Reward
Costs
Program
Costs
Net
Revenue
Increase
Customer Behavior Loyalty Marketing Costs
• In 2011, 7 in 10 Americans said they were willing to spend
more with companies they believe provide excellent
customer service
• Dissatisfaction with customer service is the #1 reason
customers won’t return to a business
$
$ $ $
3 out of 4
customers have
spent more
with a company
because of
positive
experiences
How Great Service Drives Loyalty
SOURCE: AMERICAN EXPRESS SURVEY
Tip #1: Show that you really care.
• Connect with your customers on a human, emotional
level
• Share stories and try to relate to the customer
• Look for ways to delight the customer, in the spur of
the moment
• Use customers’ names when you interact with them
• Pay attention and remember the small things, like a
child’s favorite candy or an upcoming anniversary
5 Practical Service Tips

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Service is Your Best Marketing Strategy: 5 Quick Tips

  • 1. Service Is Your Best Marketing Strategy
  • 2. Experts agree that loyalty is the most effective and highest return marketing Retailers with loyalty programs, on average, are 88% more profitable than competitors who do not. DELOITTE RESEARCH SURVEY Customer loyalty is the single most important driver of growth and profitability. HARVARD BUSINESS REVIEW It is 6 to 7 times more to acquire a new customer than to retain an existing one. BAIN & COMPANY
  • 3. Loyalty marketing is more relevant today than it has ever been • Your biggest asset is your existing customer base and foot traffic • Data shows that loyalty programs can increase customer visits by 20 percent or more • With social media, each of your customers can now share your brand with hundreds of others • Technology can now automate most of your loyalty marketing needs • It’s marketing that’s fun and makes sense!
  • 4. Loyalty marketing ROI is traditionally driven by increasing visits, spend, and response to promotions Visit go.fivestars.com/loyaltyguide to learn more Framework for Calculating Loyalty Return Visit More Frequently Spend More Per Visit Participate in Promotions Reward Costs Program Costs Net Revenue Increase Customer Behavior Loyalty Marketing Costs
  • 5. • In 2011, 7 in 10 Americans said they were willing to spend more with companies they believe provide excellent customer service • Dissatisfaction with customer service is the #1 reason customers won’t return to a business $ $ $ $ 3 out of 4 customers have spent more with a company because of positive experiences How Great Service Drives Loyalty SOURCE: AMERICAN EXPRESS SURVEY
  • 6. Tip #1: Show that you really care. • Connect with your customers on a human, emotional level • Share stories and try to relate to the customer • Look for ways to delight the customer, in the spur of the moment • Use customers’ names when you interact with them • Pay attention and remember the small things, like a child’s favorite candy or an upcoming anniversary 5 Practical Service Tips
  • 7. Real Life Example: Zappos 5 Practical Service Tips It’s more important that we make an emotional connection with the customer, rather than just quickly getting them off the phone. DEREK CARDER, CUSTOMER LOYALTY OPERATIONS MANAGER ” “ Percent of Zappos sales comes from return customers, who on average, spend 2.5 times more than first timers. SOURCE: CONSUMERIST & DAILY DEAL MEDIA 75% FROM JAY, A ZAPPOS CUSTOMER AND BEST MAN, WHO ALMOST ARRIVED TO THE WEDDING WITH NO SHOES: I spoke with Lydia Burrola who listened carefully to my situation and she offered to overnight a replacement pair of shoes. It was at this point I felt I had to tell her that this level of service was both outstanding, and completely unexpected. On top of completely taking care of my problem and adding the “VIP” bonus, she then issued a complete refund. Free shoes. Unbelievable. Zappos has earned a customer for life. “ ”
  • 8. Tip #2: Get customer feedback and act on it. Now! • Find ways to get your customers’ feedback, the good and the bad: It shows that you really care about their experience • Ask if there is anything else you or your employees can be doing to give them the best you can • Always shoot to go above and beyond what is expected when responding to feedback • Act on feedback requests as soon as you can 5 Practical Service Tips DO YOU HAVE TIME TODAY?
  • 9. Real Life Example: Trader Joe’s 5 Practical Service Tips SOURCE: FAST COMPANY & JABUSFIELD.COM Marynne Aaronson was pleasantly surprised at how quickly her Reno, Nevada, store started carrying a soy ice-cream cookie she'd requested after trying it at a Southern California location. Store Captains spend most of their day on the retail floor and have a lot of autonomy to set up their stores to meet local needs. Employees can open any product a customer wants to taste and are encouraged both to recommend products they like and to be honest about items they don't. All store employees can email buyers directly with ideas or feedback from customers. Customer feedback doesn't have to come from sophisticated research. At Trader Joe's, it's all about listening to people. And my heart was glad: Glad to be at Trader Joe’s; glad that these employees were awesome people. My kid will always remember Trader Joe’s as the place he danced. FROM J.A. BUSFIELD, ABOUT HER EXPERIENCE WHEN TRADER JOE’S EMPLOYEES TOOK HER COMMENTS TO HEART AND HAD AN IMPROMPTU DANCE PARTY IN THE GROCERY AISLE FOR HER ANTSY SON: ” “
  • 10. 5 Practical Service Tips When customers share their story, they’re not just sharing pain points. They’re actually teaching you how to make your product, service, and business better. Your customer service organization should be designed to efficiently communicate those issues. KRISTIN SMABY, “BEING HUMAN IS GOOD BUSINESS” ” “ SOURCE: HELP SCOUT
  • 11. Tip #3: Build long-term relationships. • Like a dating relationship, woo your customer after they have already purchased from you • Reward them for being loyal customers over time • Surprise them on special events, like birthdays or holidays • Go the extra step and follow up after their purchase and make sure everything is going well 5 Practical Service Tips
  • 12. Real Life Example: Panera Bread 5 Practical Service Tips Panera Bread launched the MyPanera customer loyalty program in 2010. Customers in this program enjoy free items based on past purchases, invitations to events at their restaurants, and special treats on their birthday. Panera’s loyalty program has helped them keep in contact with their customers and understand their buying habits. This has helped Panera Bread tailor its offerings to what the customers like, so customers will keep coming back again and again. SOURCE: ST.LOUIS TODAY & ANALYST DISTRICT MyPanera is focused on fostering unique relationships with customers through deeply understanding how each guest enjoys and interacts with Panera today, and new ways they might like to in the future. BILL MORETON, PANERA BREAD CHIEF EXECUTIVE OFFICER ” “
  • 13. Tip #4: Hire servant leaders. • Servant leaders are people who lead by serving all of their peers regardless of their position or lack there-of • A servant leader is a servant first, and these type of people will continually put your customers’ needs above their own 5 Practical Service Tips SOURCE: MCKINSEY • Look to hire people with these types of characteristics: humility, warmth, empathy, conscientiousness, and optimism! Percent of buying experiences are based on how the customer feels they are being treated. 70%
  • 14. Real Life Example: Chick-Fil-A 5 Practical Service Tips The main idea of ‘servant leadership’ is that leaders serve the staff. Managers treat their employees how they want those employees, in turn, to treat customers. If we have to keep telling people what to do, it means we're not modeling the behavior ourselves. If we're living it every day, we don't need to talk about it. DAN CATHY, CHICK-FIL-A CHIEF OPERATING OFFICER ” “ You can’t be too thorough about hiring. For Chick-fil-A, the process of selecting new franchisees can be painstaking and very lengthy (up to a year). Applicants work in a restaurant and endure countless interviews; often, their spouses and parents get interviewed as well. They want to be sure that new operators share Chick-fil-A's corporate values. Chick-fil-A looks for people who exhibit humility, passion for service, compassion, and genuineness. SOURCE: FAST COMPANY
  • 15. Tip #5: Mistakes happen. Make it right. • Own up to your mistakes. Genuinely apologize and make the situation right based on the customer’s individual needs. • Allow your customers to vent about issues and don’t interrupt until they have said everything they want to say. Never argue with a customer, even if they may be wrong. • It takes 12 positive service experiences to make up for 1 negative experience. 5 Practical Service Tips • A third of consumers say they experience a rude customer service at least once a month... 58% tell their friends about it! ...and
  • 16. Real Life Example: Starbucks 5 Practical Service Tips As described in Charles Duhigg’s The Power of Habit, Starbucks employees undergo rigorous training in how to recognize and respond to customer needs.  They learn about what the company calls the “Latte Method” of responding to unpleasant situations. Baristas learn to recognize when their customers are exhibiting negative emotions and, more importantly, how to address these emotions in positive ways. The Starbucks LATTE Method: We Listen to the customer, Acknowledge their complaint, Take action by solving the problem, Thank them, and then Explain why the problem occurred SOURCE: FORBES ONLINE ” “
  • 17. 5 Practical Service Tips The single most important thing is to make people happy. If you are making people happy, as a side effect, they will be happy to open up their wallets and pay you. DEREK SIVERS, CD BABY ” “ SOURCE: HELP SCOUT
  • 18. Need a customer service boost? • Want an easier way to remember all of your customers names? • Wish you had more specific details about their visits to your small business? • Want to delight them on their birthday or other holidays? Cue shameless plug! FiveStars Loyalty Automation Platform can help!
  • 19. FiveStars is pioneering loyalty automation that includes service marketing tools FIVESTARS LOYALTY AUTOMATION PLATFORM We take care of everything Point-of-Sale Relationship Manager FiveStars Card Customer Engagement Toolkit • Customer info right on the POS • Never slow down the line • Built in fraud control • Simple technology everyone can use • Impossible to lose • Over 700,000 cardholders • Simple segmentation • Text or email campaigns • Social media integration Want a free loyalty consultation from FiveStars? Visit go.fivestars.com/demorequest
  • 20. Service Is Your Best Marketing Strategy