The chapter gives five central ideas for recovering potentially lost customers. The first is to empathize with the dissatisfaction that caused them to quit doing business with you. (Feel their pain)
Name and briefly describe the other four ideas.
In addition to "feeling their pain," four additional steps should be used for recovery:
• Clarify and do all you can to resolve the customer's problem(s).
• Go beyond: offer "symbolic atonement" by voluntarily giving the customer something to compensate for their problem.
• Look back and learn from the situation so that repeated problems can be avoided.
• Understand your own reactions if the customer is still not satisfied. If you have done your best, that is enough. Don't take it personally and don't rehash the experience with others.
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A contract of agency usually involved at least three parties.
a. true b. false
Given the following cash flows, what is the future value at year six when compounded at an interest rate of 8.0%?
Year 0 2 4 6 Cash Flow $5,000 $7,000 $9,000 $11,000 A) $38,955.39 B) $56,687.43 C) $42,074.42 D) $32,000.00