Dunvegan Blog

Customer Satisfaction, Customer Retention and Company Vision

Should your company vision focus on your customers? Or should you have a distinct vision for customer care?

Most company visions are internally focused … for example, “To be the best ____” or “To be the biggest ___”, or “To be recognized as _________”, without reflecting the company’s greatest asset – its customers – as a vital component of success.

As you build your business – growing customers and revenues – you will soon discover that a good part of your time, energy and money will be expended to simply “hold your position”. Whatever your customer churn level, you must constantly replace lost business BEFORE you can grow.

When you reduce the churn, you reduce the effort required to stand still. When you reduce the churn, you reduce the cost of replacement. When you reduce the churn, your employee engagement is likely to increase as they see relationships as more than transactions. When you reduce the churn you inevitably improve customer advocacy.

To get your organization to a higher level of performance with higher customer satisfaction, and improved customer retention, you – the business leader – will need to develop and demonstrate a specific vision of customer care and inspire your employees to make the customer your primary focus.

Your customer care vision will need to include:

  • Your determination to know your customer – his needs, wants and expectations, his role in buying decisions, his demographics or firmographics
  • Your desire to create positive customer experiences and customer satisfaction with the organization’s products and services, including graceful problem resolution
  • Your dedication to building long-term relationships with your customers – relationships that will bring the customers back time and time again.
  • Your commitment to ensuring that your customers are willing to advocate for the organization – voluntarily referring more and more customers.

 

No matter who your customers are – patients, students, members, citizens, clients – it’s your organization’s top leadership that must spearhead the customer care and customer retention process. By “top” leadership, I truly mean the top – most often this leader will have a C-suite title like CEO, COO or CFO.

It is imperative for top leadership to be as committed to customer care and customer retention as you are to the bottom line – a distinct vision for customer care is a sound way to show your commitment.

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