This week's study focused on serving your customers, the difference between an existing and new customer, and how to build your business with customer loyalty. We read about Stew Leonard's Customer Service Rock of Commitment:
Rule 1 The Customer Is Always Right!
Rule 2: If The Customer Is Ever Wrong, Reread Rule 1
(Both are etched on a piece of granite outside of each of his stores.)
David Neeleman from Jet Blue explained how important it is to put your money in the right places - where it matters to people. So, find out what your customers need and then fill those needs.
Tony Hsieh, from Zappos, described their practice of paying employees to quit. Their new hires all receive the same training. Regardless of the job title, all employees are trained in customer service, working the phone lines. After a week of training, they are each offered $2000 to quit. This has proven to weed out those who are only interested in a paycheck, leaving employees that are committed to the company and its culture. The employees are offered this deal again, at least once more, to make certain that the staff are willing to contribute to the company culture.
We also learned the cost of getting a new customer:
annual marketing and advertising expenses/# of new customers= cost of new customer
Once you have a customer, it makes financial sense to preserve the relationship through excellent customer service because the revenue from each existing customer will grow their satisfaction becomes loyalty.
As I look ahead at the next few weeks of our $100 Challenge, I hope that I can remember these principles. Even though my goals are small, I want to leave a lasting impression on my customers by applying what I am learning about customer service. I believe that half of my success will be due to the quality and taste of my salsa and the other half will be due to customer relationships.
I am excited about my decision this week on my Kiva recipient.
I have chosen Fernando Daniel from Rubenia, Nicaragua. He owns a
metal shop and is looking for a loan in order to purchase a machine to join
engine blocks. He also wants to purchase bronze, iron, and aluminum for his
business. He was trained when he was young in welding and metallurgical work.
The listing says that he is a responsible man with the support of his family.
The loan amount he is asking for is $1000.00, of which $250 has already
been provided. The reason I chose Fernando, is that he is purchasing a machine
that he already knows how to use. This is an asset that will continue to help
him bring in profit both in the short and long term.
By donating my profits from the $100 Challenge, I am using the
skills God has blessed me with to bless someone else. My situation is such that
I don’t require the same help as Fernando, but I do rely on those around me for
support and encouragement for my entrepreneurial journey. It is good for me to
remember that none of us are asked to do anything alone. We all can rely on the
Lord for guidance and strength, and we can lean on others to answer our prayers.
This understanding continues to keep me grounded and humble.
I hope that my small contribution will help Fernando feel that
support from others as he works to provide for himself. As his situation
changes, he will be able to be a support to others in his life and the cycle
will continue.
My next step is to order my packaging and set up my online order sheet. I hope to have my ordering go live by this coming weekend. Wish me luck!
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