eBusiness Weekly
Clemence Mutembo
Every person on earth gets angry sometimes! Differences only come on how different people respond to different situations.
There are a number of reasons why customers may get angry.
First, they may have had an unpleasant experience with the company.
This could be from such things as receiving poor service or receiving a defective product.
Second, they may have been treated poorly by a company representative such as being rudely spoken to or not being listened to.
Third, they may simply be having a bad day or be stressed about something else in their lives.
Finally, they may be expecting too much from the company and become frustrated when their expectations are not met.
Whatever the reason, it is important for companies to try to understand why their customers are angry and to address their concerns. There are a few key steps that can be taken to deal with customer anger.
First, it is important to remain calm and respectful.
Raising one’s own voice or getting defensive will only escalate the situation.
Next, it is important to listen to the customer’s concerns and validate their feelings.
This shows that the company is taking their concerns seriously and is trying to understand their perspective.
Finally, it is important to try to resolve the issue in a way that is satisfactory to the customer. This may involve offering a refund, replacement or other type of compensation.
By taking these steps, companies can effectively de-escalate customer anger and solve many issues. You see, it is wrong to wish customers a happy new year when you were giving them bad experiences during the year because it comes across as insincere.
If a customer has had negative experiences with a company, they are not likely to be in the mood to hear that the company is wishing them a happy new year.
In fact, it may even come across as mocking or insensitive. Instead, companies should focus on fixing the problems that led to the bad experience and making things right with the customer. Then, if the customer has positive experiences in the future, it will be genuine to wish them a happy new year.
Many people do not understand that customer experience and relationship marketing are closely connected concepts.
Relationship marketing is all about creating and maintaining positive relationships with customers and the customer experience is a key component of that. After all, a positive customer experience is what creates a lasting bond between a customer and a company.
By providing a great customer experience, companies can build trust and loyalty with their customers, which are essential for any successful relationship marketing strategy.
So, while the two concepts are not the same, they are closely linked and work together to create successful relationship.
During my sessions, I always explain how the rate of stock turnover is affected by such things as customer experience.
You already know that the rate of stock turnover is a financial accounting metric that measures how quickly a company’s inventory is sold. You already know that it is calculated by dividing the cost of goods sold by the average inventory. A high rate of stock turnover means that a company’s inventory is selling quickly while a low rate of stock turnover indicates that the company’s inventory is selling slowly.
This metric is important because it can provide insight into a company’s financial health and efficiency.
A high rate of stock turnover could indicate that the company is doing well in a number of areas. You see, customer experience can have a significant impact on the rate of stock turnover. If customers have a positive experience with a company, they’re more likely to be loyal and buy from that company again in the future.
This can lead to higher sales and a faster rate of stock turnover. On the other hand, if customers have a negative experience, they are more likely to switch to a competitor and the company’s stock may sit on the shelves longer.
In addition, a poor customer experience can lead to negative word-of-mouth and damage a company’s reputation further affecting its stock turnover. So, the impact of customer experience on stock turnover is quite huge.
It is important to know that customer experience is deeply connected to brand building in a few different ways.
First, customer experience is one of the main drivers of brand loyalty.
If customers have a positive experience with a brand, they are more likely to remain loyal and continue doing business with that brand.
Second, customer experience plays a big role in shaping the brand’s reputation. If customers have a good experience, they are more likely to recommend the brand to others which helps to build its reputation.
Finally, customer experience can also influence brand awareness and recognition.
The benefits of brand building are numerous and wide-ranging. Some of the key benefits include:
1. Increased customer loyalty: Customers who feel a strong connection to a brand are more likely to be loyal and return for future purchases.
2. Increased sales: A strong brand can help drive sales by increasing the perceived value of a product or service.
3. Competitive advantage:
A well-developed brand can give a company a competitive edge over its rivals.
4. Increased market share: As a brand becomes more well-known and trusted, it can capture a larger share of the market.
I studied Consumer Behaviour during my Marketing Management studies at University.
You see, attitudes have a significant impact on consumer behaviour.
Attitudes are one of the key factors that influence whether or not someone will purchase a product or service.
A person’s attitude toward a product is determined by a number of factors including past experiences, social influences and personal values.
For example, if someone has had a positive experience with a particular brand in the past, they are more likely to have a positive attitude toward that brand and be more likely to purchase from them in the future.
Conversely, negative experiences can lead to negative attitudes and decreased likelihood of purchase.
There are a number of ways that companies can influence customer attitudes. One way is through advertising and marketing campaigns that are designed to create positive associations with the brand.
Companies can also influence customer attitudes by offering high-quality products and services and also providing excellent customer service plus establishing a strong brand identity.
Additionally, companies can build positive attitudes by engaging in corporate social responsibility initiatives which can show customers that the company is committed to making a positive impact on society.
Finally, companies can influence customer attitudes by building relationships and engaging in two-way communication with customers. Good experiences also sell products! You see, the idea that products sell themselves is a myth. While a product may be well-designed and have great features, it still needs to be promoted and marketed effectively in order to be successful.
Products do not just magically appear in front of customers — they need to be discovered and promoted through advertising, word-of-mouth and other marketing efforts.
Additionally, even the best products need to be sold by people who are knowledgeable and passionate about them.
So while a product may be amazing, it still needs a team of people behind it to ensure its success.
If you do not promote your product, you’re likely to see a decline in sales and customer interest. Without marketing, customers may not be aware of your product or may not understand its value.
Additionally, your competitors may be out — marketing you which could cause you to lose market share.
Over time, this lack of promotion can lead to your product possibly becoming obsolete and falling out of favour with customers.
In short, failing to promote your product can have serious consequences for your business. So make sure to put time and effort into promoting your products and services to ensure their success.
I understand sales practically and theoretically. You see, customer experience is directly connected to sales in a number of ways.
First, a positive customer experience can lead to repeat business and word-of-mouth referrals both of which can result in increased sales.
Additionally, a positive customer experience can lead to customer loyalty, which can help to increase the lifetime value of a customer.
Finally, a positive customer experience can help to create a positive brand image which can make customers more likely to buy from a company in the future.
In short, customer experience is a key driver of sales and should be a top priority for any business.
Customer experience can be thought of as a long-term sales strategy.
By focusing on providing a positive experience for customers, companies can build customer loyalty and generate repeat business which can result in increased sales over time.
Additionally, a positive customer experience can help to create a positive brand image which can help to attract new customers and increase sales in the long run.
So while customer experience is not a direct sales tactic, it can have a powerful impact on sales in the long term.
My company, Fadza Mutengi (Pvt)Ltd does a number of services including customer experience and satisfaction measurements.
You see, customer experience is often seen as a vague, intangible concept but the truth is that it can and should be measured. \
In fact, measuring customer experience is crucial for any business that wants to improve its performance and stay competitive.
There are several key reasons why measuring customer experience is so important.
First, it helps businesses to understand their customers better and identify areas where they can improve.
Secondly, it provides valuable data that can be used to make informed decisions about product development, marketing and customer service.
Finally, it helps businesses to track their progress over time and measure the way its generally performing.
If a business doesn’t measure customer experience, it runs the risk of making decisions based on assumptions rather than hard data.
This can lead to misguided investments, wasted resources and a less-than-optimal customer experience.
Furthermore, not measuring customer experience can prevent businesses from identifying and addressing customer pain points which can damage customer satisfaction and loyalty.
Ultimately, not measuring customer experience puts a business at a competitive disadvantage and can have serious consequences for its bottom line.
That’s why it’s so important to have a robust system in place for measuring and improving customer experience.
Any entrepreneur must understand the basic principles of brand management.
You see, good customer experiences can drive brand equity in a number of ways. First, they can build trust and loyalty with customers.
When customers have good experiences, they are more likely to view the brand positively and to become repeat customers.
Second, positive customer experiences can lead to positive word-of-mouth marketing which can help to attract new customers and boost the brand’s reputation.
Finally, they can create positive associations with the brand such as happiness or satisfaction.
These positive associations can help to drive brand equity over time.
Poor customer experiences on the other hand can damage brand equity in a number of ways.
First, they can lead to a loss of trust in the brand. When customers have a bad experience, they may feel that the brand does not care about them or their needs.
This can cause them to lose faith in the brand and switch to a competitor.
Additionally, poor customer experiences can result in negative word-of-mouth marketing which can damage the brand’s reputation.
Finally, poor experiences can cause customers to associate the brand with negative emotions such as frustration or disappointment.
This can lead to a decline in brand equity over time.
I was quite fascinated by the principle of vicarious liability which I learnt when I studied Business Law during my Marketing Studies.
You see, the law of vicarious liability is a legal concept that holds an employer or other party liable for the actions of another person.
In other words, it means that someone can be held responsible for the actions of another person even if they did not directly commit the act themselves.
This can apply in a number of different situations such as when an employee harms the customer while on the job.
The law of vicarious liability is based on the idea that someone who has the power to control another person’s actions should be held responsible for those actions.
If an employee injures a customer while they are performing their job duties, the employer can be held responsible under the law of vicarious liability.
This is because the employer has a duty to ensure that their employees are performing their job safely and in accordance with the law.
If an employee is negligent or otherwise causes harm to a customer, the employer can be held liable for that harm.
However, there are some exceptions to this rule such as if the employee’s actions were outside the scope of their employment.
You see, the customer satisfaction index (CSI) is a metric used to measure the satisfaction of customers with a company’s products or services.
It is calculated by surveying customers and asking them to rate their satisfaction on a scale of 1 to 10.
The results of the survey are then averaged to create a score that indicates how satisfied customers are with the company.
A higher CSI score indicates that customers are more satisfied with the company.
This metric is important because satisfied customers are more likely to be repeat customers and to recommend the company to others.
Additionally, CSI scores can be used to identify areas of improvement and to track the progress of customer satisfaction initiatives.
If a company does not track customer satisfaction, they may be missing out on valuable information that could help them to improve their business.
Without customer satisfaction data, companies will have no way of knowing whether their customers are happy with their products or services.
This can lead to a decline in sales and profits as customers may begin to take their business elsewhere.
Additionally, a lack of customer satisfaction tracking can make it difficult for companies to identify and address any problems that may arise.
Ultimately, tracking customer satisfaction is crucial for the success of any business because it gives you indications of how you’re doing.
Clemence Mutembo
Clemence Mutembo is a High-Impact and Dynamic Business Speaker, Trainer & Coach. Clemence has made over 500 presentations to small, medium and large organisations in Sales and Customer Experience. You may reach him on: 0778 994 994
