Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities

This Is How Good A Customer Service Can Be The Most Important Business Metric

Attracting new customers is much more difficult than retaining one.

By Features Writer
This Is How Good A Customer Service Can Be The Most Important Business Metric

Entrepreneurs face constant and never-ending challenges in this highly competitive business market. Those skilled enough will survive and thrive, resulting in market saturation and success. One of the biggest concerns for entrepreneurs currently is the satisfaction of the customers, as they are the ones to boost your sales.

Franchisors need to understand that in order to win in this cut-throat competition, customer satisfaction is one great weapon to help you succeed. Thus, to guarantee your own success, you must deliver sincere value to your customers by treating them similar to your family.  

Customer retention is less expensive than making one

 Industrialists claim that it costs approximately five times more to convince new customers than retaining the existing ones. The logic itself is a key highlight of why franchisors should embrace an excellent customer service.

As an entrepreneur, you should think about eliminating the risk of losing your customers, as they will be the building block for your organization.

Existing customers are more likely to purchase for you

Another challenge is to sell your products and services to new customers than your existing customers. A statistic explains that 5-20 percent of investment comes from new customers, whereas, 60-70 percent is from existing customers.

Word-of-mouth marketing is the new era advertising tool

Word-of-mouth advertising is that tool which makes money online and offline, creating an army of fans that champions your business.  

There is no way one can buy word-of-mouth advertising. People are more likely to listen to their friends and families than to heed guidance from online reviews and advertisements.

Comment
image
image
mobile
address
star franchise india
Related opportunities
  • Casual Dine Restaurants
    About Us: Mamu’s Infusion is a highly-popular and renowned fine dine..
    Locations looking for expansion Rajasthan
    Establishment year 1990
    Franchising Launch Date 2017
    Investment size Rs. 50lac - 1 Cr.
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Jaipur Rajasthan
  • Ice Creams & Yogurt Parlors
    About Us: Michael’s Icecream Burger is the first of its kind,..
    Locations looking for expansion Karnataka
    Establishment year 2017
    Franchising Launch Date 2019
    Investment size Rs. 5lac - 10lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Bangalore Karnataka
  • About Us: Hollywood’s Pizza & Grill is an upmarket casual dining..
    Locations looking for expansion Haryana
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Casual Dine Restaurants
    Smoke Barbeque was established in Kodambakkam, Chennai. Smoke Barbeque name..
    Locations looking for expansion Haryana
    Establishment year 2012
    Franchising Launch Date 2020
    Investment size Rs. 30lac - 50lac
    Space required 1500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts

pincode
ads ads ads ads