Service and Follow-up for Customer Retention

14 Chapter Service and Follow-up for Customer Retention

The Tree of Business Life: Service Guided by The Golden Rule: • Prove you truly care with royal service • Prove what you said in your presentation was the truth • Take your time to build long-term business friendships • Realize that customer satisfaction leads to customer retention • Place the customer’s interest before your own • You can see that ethical service builds true relationships T T T Service Ethical T T T T T T T T Builds T r u e Relationships T C I

Only Through Truth Can Trust Be Supported to Bridge the Gap Between People

The Importance of Service and Follow-Up • How does this chapter refer to ______? • As part of a product, such as insurance or advertising? • In the context of helping others?

Correct! Service Refers To: • Helping others

Sales Proverbs • Sales Proverbs! Examples are: • You do business with the one you trust and you trust the one you know • Obtaining new customers and selling more products to _______ customers are the ways to increase sales • It is always easier to sell a satisfied customer than to an unsatisfied one or a prospect • The cost of acquiring a new customer is higher than keeping a present customer

When Does the Business Relationship Begin? • After you first sell someone and they become a customer

Which of the Following Is the Purpose of the Sales Call? Is it: • Solely to make a sale? • To ____ someone?

Building a Long-Term Business Friendship • What Is A Business Relationship? • A relationship revolving around ________- ______ issues • A business relationship is much like a personal friendship

Relationship Marketing and Customer Retention • Transaction selling – sells once • Relationship selling – periodically stays in touch • Partnering – ___________ works with customers

How Does Relationship Marketing Build Friendships? • Creates customer loyalty • Results in retention

Here Are Several Expected Services • Product has no defects • Price is fair • Product is available when and where needed • Correct, honest advertising • Transaction handled correctly, quickly, professionally • Warranty honored

In a Business Friendship, How Can You: • ________ a person you consider a friend? • Be uncaring, sad, pushy, impatient, rude, unethical, untruthful, self-centered, and/or emotional?

Exhibit 14-4: Customer Retention: When the Buyer is Satisfied with Purchases Over Time

So, How Does Service Increase Your Sales? • Service increases sales by helping you obtain new customers and sell more to present customers • Satisfied customers will provide customer _______ • Referrals are very important for: • Future sales • More referrals

Exhibit 14-5: Sales Come From Present and New Customers 1. Prospecting • Salespeople are constantly involved in follow-up and service in addition to planning future sales calls to customers; they also spend time prospecting 2. Preapproach 3. Approach • 4. Presentation • Product SELLs • Marketing plan SELLs • Business Proposition SELLs 5. Trial Close 6. Determine objections 7. Meet objections 8. Trial close 9. Close 10. Follow-up

Is the Customer Always Right? • “Always” is the key word in the phrase

1. Service 2. present 3. Help 4. business-related 5. continually 6. Mistreat 7. referrals Answers to Blanks

Service and Follow-up for Customer Retention