Daymond John of “Shark Tank” says he has learned an important lesson regarding the strategy to run a successful business.
“To over-deliver in service to a customer is by far the most valuable thing to a business. Because, there are only two ways to improve the operations of a business: increase sales or decrease costs. In today’s environment, decreasing costs is hard. And as far as increasing sales, doing so via customer service is highly effective.”
Great customer service means making customers feel special. Delivering a great customer experience means your customers will want to come back. It costs three to five times more to gain a new customer vs. keeping the one you have, so building a relationship is even more important than closing a quick deal. Businesses are in place to serve customers. When you serve a customer and make them feel important, like a king, you make them feel special. Acknowledging to a customer that they matter to your business goes a long way in building customer loyalty. Here are five ways to make your customers feel special – like a king or queen.
1. Treat them as equals. Customers want to feel like they are on a peer-to-peer relationship with you.
2. Be honest and transparent in fees, pricing, warranties, follow up service, etc.
3. Streamline the buying process, make it hassle-free and easy to do business with you.
4. Keep your pricing consistent on all forms of media; don’t give one price for online and another for in-store.
5. Be real, don’t read from a script. Customers want to interact with someone who is not plastic or fake-sounding.
You don’t have to be on Shark Tank to learn the same important lesson Daymond John learned the hard way over his career span. If you over-deliver in service to a customer, they feel they received unexpected value, they are WOWED by the experience and will want to tell others and come back. A much more effective way of improving the operations of your business than decreasing costs.