national main street annual conference - exceptional customer experience
TRANSCRIPT
Creating An ExceptionalCustomer Experience
How Businesses Stand Out Today
Pamela Herrmann, FounderThe Paragon Effect
www.TheParagonEffect.com
Reminders
“How Can I Use the Internet To Grow My Sales?”
Customers Are Asking Themselves
• Did I make the right decision?
• Can I trust you?• Will it turn out like I
expected?
• 32% of new customers will leave within the first year.– Over 20% of those people leave without
conducting a single transaction– Over 50% of those people leave within the
first 100 days
Banking
46% Churn Rate
Cell Phone Industry
21% of people who sign a 2 year commitment break the contract in the first year.
Software As A Service
20% of their customers are leaving within 100 days
Most businesses don’t know how many customers they’re losing in the first 100
days.
20-60% Attrition Rate Worldwide Across All Sectors Every Year
“80% of businesses surveyed believe they deliver ‘superior’ customer service.
Only 8% of their customers agree.”
Lee Resources
Most Businesses Don’t Know The Lifetime Value Of Their Customer
What’s sad is that most businesses are
making it worse.
A Few Simple Tweaks Can Have A Huge Impact On A Businesses Bottom Line
Perfect Customer Lifecycle
Customer Marketing
The Purpose Of Business IsTo Get & Keep Customers
Yet most businesses are treating customers like a single transaction
The Paragon Effect
For Customers,Feelings Are Fact!
52% of Small Business Report Moderate to High Revenue Growth From Customer Marketing
And here’s why…It costs less to market to your existing
customers than it does to acquire a new one.
Companies who are engaging both their customer AND their employees see a 240% increase in performance related outcomes.
“Pam, I’m not that creative and wouldn’t even know where to start.”
Stagecoach CoffeeCooperstown, NY
Know The Lifetime Value Of Your Customer
Creating A Pattern Interrupt
• Was it expected?• Was it necessary?
Matt was successful in creating rapport & relationship in a 7 minute transaction.
Trust & loyalty in two transactions.
Total cost: $2.00
How We Grow Sales
The most interesting thing about the way the Internet is shaping business is being driven by
consumer behavior online.
Think of a time when you relied on online reviews to make a purchasing decision
Office Depot
Resulted in a 40% increase in customers who purchased something before leaving the store.
So now you see why it’s important to master the greeting
“Are you a member of our
loyalty program?”
The Main Street Advantage
Being excellent is highly profitable:
7 out of 10 customers said they were willing to spend more with companies that provide an excellent customer experience
.American Express Survey, 2011
Question
Across all touch points, how do you make someone feel welcomed?
How Are You Engaging With Your Customers Across All Touch Points?
• Phone• In person• Website• Email• Social Networks
5 Keys To The Welcome
• What you say• How you say it• Your body language• Be interested, not interesting• Anticipate needs
What Customers Are Deciding
“When people believe they share values with a company they become loyal to their brand”
~Howard Schultz, CEO Starbucks
Main Street Businesses Don’t Get A Hall Pass
Think about how businesses in your community are creating an exceptional customer experience
RATE YOURSELF
What are 3 things that your program or business is doing right based on this presentation?
So now you know…
• Where opportunity for sales growth lies• How to create a buying experience that results
in lasting loyalty
Please complete the session evaluation on the conference app before you leave the room.
Thank you!