Great article today from MediaPost's Engage: GenY blogger, Morgan Stewart. Stewart discusses a recent issue with a large cable company resulting in Stewart's decision to stop service through the company. Instead of providing excellent customer service at the beginning, the cable company only provided customer service when Stewart was ready to stop the service contract. Too little, too late. This company didn't follow the old adage that it's much better to keep a customer than to acquire a new one; the company assumed that another customer would soon follow Stewart. So what gives? Stewart writes, "On one hand, marketers' focus on acquisition makes perfect sense. Growth is the primary goal of any company -- and new customers are required in order to grow. However, there is a point of diminishing returns where acquisition efforts are simply replacing customers that have already left -- the classic leaking bucket."
Stewart goes on to discuss the larger companies with excellent customer service and by being excellent they let their loyal (and very happy) customers spread their love for the company to their friends and family. This customer service prowess leads to awesome viral marketing.
Does your company think this way? How are you using excellent customer service to market your company?
Learn more: Customer Service IS Marketing
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