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Value of Business Lost by Poor Customer Service

How much does a company like Econet lose when a customer walks away because  of a long queue, or a restaurant loses a client because of poor service, or Telone loses a client because of long waiting times  on their call centers? Imagine that one person can spend $5 a week and hence that’s $20 a month. Sounds small but if you add it up in a year that sums up to $240. Now, imagine that is a hundred clients who are not happy that would then come up to $24,000. Now that is just a client who spends $5 a week. How about in a restaurant where one would spend $10 a week?

Now  a lost client can mean lost salaries, lost rent payments, lost payments to suppliers. Pick any consumer in Zimbabwe, South Africa or any other country and they will certainly tell you about a bad service that they have experienced. Without mentioning any names, some of the restaurants are successful simply because they can keep a clientele of 500 or less who they know if they give good service they will get repeat business.

If you don’t know your client’s needs you can’t know the best service they need. Providing the right product can be part of customer service and can keep your business running. The other day a certain business owner in a takeaway was busy shouting at an employee in front of the clients. What she did not realize was that such a display of disregard can make clients uncomfortable and leave. We live in world of competition, there are very few monopolies in our world these days in business so one really has to be on top of their game. It is more expensive to gain a new client than to keep an old one.

 

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