Keep your competitors away from your customers!

In these challenging economic times your customers are being inundated with attractive offers, which can lure them away from your company. Those offers may promise lower prices, better service or quality. However true their claims may or may not be, what is for sure is that you as a salesperson hold the most important key to keep your client from leaving. Just what are those keys?

According to the Peppers & Rogers Group, a highly respected management-consulting firm, customers are most concerned or focused on their emotional experience with salespeople than any other factor. Their research shows that:

  • 60% of customers stop dealing with a company because of indifference on the part of salespeople
  • 70% of customers leave a company because of poor service, which they attribute to a salesperson
  • 80% of defecting customers describe themselves as "satisfied" or "very satisfied" just before they leave
  • Customers who feel their salespeople are exceptional are 10 to 15 times more likely to remain loyal

Consequently, you can positively affect your customer and begin to generate new business.

A recent JD Power study discussed the power you hold as a salesperson. In their study that included responses from over 20,000 auto insurance policyholders, they found that:

  • 81% of policyholders with high commitment levels are likely to refer friends and family
  • 9% of policyholders with low commitment levels are likely to refer friends and family

Senior director of JD Power & Associates Jeff Leiman states, "Proactive, outbound communications greatly improve the customer experience, as the more engaged . . . the more satisfied customers become". This is important to note because you do have the ability to engage your customers and significantly influence your retention. He mentioned several practices that can positively influence your customer:

  1. Resolving issues on the 1st contact
  2. Offering annual. . . reviews
  3. Providing online access to policy/company information
  4. Increasing their awareness of . . . discounts

When you look at your reports and view the total amount of sales that you have achieved for the last several months vs. the business you've lost consider this question: "Could you have increased your new business and lessened your lost of business by engaging your customers a little more?" Sure, there are other factors why you may loose opportunities or business during the first 12 months but it is important to think about what you can do to cause that number to go down and cause the number you sell to go up!