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The three Rs of online success: customer retention, employee retention, vendor retention. Think about this for a minute and I think you’ll agree with me.
Customer Retention
Successful Companies:
- Get rave reviews for customer service
- Acquire a customer once but get repeat orders for a lifetime
- Live and breathe the notion that ‘the customer is always right’
Failing Companies:
- Think of customer service as a cost center and nothing else
- Expect customers to buy once and never again
- Regard customers as suckers that can be tricked to maximize revenue
Employee Retention
Successful Companies:
- Believe that employees are the lifeblood of the company
- Understand that money is not the primary motivator for employees (a feeling of accomplishment and respect for peers is)
- Hire and retain team players
- Refuse to tolerate self-interested politics
Failing Companies:
- Do not trust their employees
- Believe that employees should be thankful to be working for them
- Believe that employees are interchangeable and replaceable
Vendor Retention
Successful Companies:
- Pay vendors promptly
- Are tough but fair on deliverables
- Strive to build long-term relationships
Failing Companies:
- Always pay late and require constant reminding
- Are tough on deliverables, and come up with reasons to dispute work
- Only care about price and switch vendors whenever they get a lower quote
How would you rate your company?
Nice tips, sometimes we need to be reminded of such qualities so as to stay on the track of successful business.