Buddha CEO, Howard M. Cox [best e book reader for android txt] 📗

a lot of communication with your shareholders in the near term.

Customer Relationship Management

CRM 101 is simply common sense. Do everything you can within reason not to turn customers into terrorists in the marketplace. Nothing spreads faster and does more to damage your brand value than a poor customer service experience.

Interestingly, it is not a single event of customer dissatisfaction that does harm to your brand value. To the contrary, if a customer complaint is handled correctly, you can actually increase customer loyalty as a result of the inevitable occasional breakdown in customer service.

The Right Customer is Always Right

The golden rule of business is often stated as “the customer is always right”. However, the real golden rule of business ought to be “the right customer is always right”.

To create maximum happiness for those who matter most, you must segment your customers by profitability and fashion service levels based on those profitability segments. This is mandatory because if you try to treat all of your customers the same you will ultimately provide average or mediocre service for all of your customers.

You will never excel in business with the mantra of mediocrity for all. Nor will you ever succeed in providing superior service for all. There are simply not enough resources in business to allocate them evenly to all. This would be the essentially equivalent to paying all of your team members exactly the same no matter what their function.

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Publication Date: 02-12-2011

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