Wednesday, September 22, 2010

Five ways to determine whether customers like your company

For the cynical reader: Yes, it does matter if the customer likes your company, at least in the long run. Companies that are disliked (check out the 10 most disliked companies in America) pay for their unpopularity in a number of ways. There were few lines at BP service stations this spring and summer, even though station owners were far removed from the decisions that precipitated the environmental disaster.

Okay, likability is in many ways separate from business results. Most of us work with a few companies whose names we could use as a curse! Factors including pricing, convenience, product quality, the mass or lack of competition a company faces, and others compete with and sometimes trump the "nice" factor.

Nonetheless... it matters. How is your company doing?

1-Do customers communicate both their satisfaction and their dissatisfaction to your company and its staff? Praise and happy customers are great. Constructive criticism, especially in terms that indicate customers would genuinely like to continue doing business with you, is just as important. Constant angry feedback, on the other hand, must not be construed as a positive.

2-Do customers exit stage right as soon as a viable alternative appears? Not good. If they work with you solely because you're the only provider of certain computer chips or fresh bagels, that's scant protection from new competitors.

3-Do customers who've stopped doing business with you (perhaps because they've retired, moved or changed focus) often keep in touch in some way? Outstanding...

4-What is the daily tone of your customer interactions? Friendly? Curt? Listen carefully.

5-Have you asked or surveyed? "What's our reputation among our markets (or in our community)?" "How are we doing for YOU?" "Would you recommend us?" Make it easy for customers to tell you - online or off, in writing or in person - what they think.

It's good to know.