Scribd
Upload
55 views8 pages

3 R S

The document discusses the importance of customer satisfaction and retention. It states that the three key indicators, or "R's", of customer satisfaction are retention, related sales, and referrals. It emphasizes that companies should monitor these metrics to track their progress in meeting customer needs and expectations. Failing to focus on customer loyalty can cost a company money in the long run. The document concludes that following the three R's of retention, related sales, and referrals will help companies retain their biggest asset - customers.

Uploaded by

Jet Evasco
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
55 views8 pages

3 R S

The document discusses the importance of customer satisfaction and retention. It states that the three key indicators, or "R's", of customer satisfaction are retention, related sales, and referrals. It emphasizes that companies should monitor these metrics to track their progress in meeting customer needs and expectations. Failing to focus on customer loyalty can cost a company money in the long run. The document concludes that following the three R's of retention, related sales, and referrals will help companies retain their biggest asset - customers.

Uploaded by

Jet Evasco
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 8

the three R’s of customer satisfaction are key indicators of a company’s

success. Retention, related sales, and referrals are basic pillars of customer
success. By monitoring and measuring these key indicators, a company can
track its progress in meeting customer needs and expectations.

It’s easy for growing companies to lose focus on how to increase customer
satisfaction. They choose to spend time and money to gain new customers
instead of building customer loyalty. This mistake can cost a company a lot of
money over the long term.

Every customer is an opportunity to grow your business. The key to customer


growth is to ensure customer satisfaction, and that your business is working to
grow for the needs of existing customers. If you can retain your current
customers, then every new customer is helping your business grow. Following
the three “R”s will help you hold onto your biggest business asset: Customers.
Retention

Customer retention is the percentage of customers who continue to do business with a


company over time. Retention is a great way to measure customer satisfaction. Customers who
make repeat purchases or who renew their contracts are satisfied enough to continue doing
business with you. A high customer retention rate indicates that customers are happy with the
products or services they are receiving. As a result, they are unlikely to switch to a competitor.

It is always important to consider loyal customers when making business decisions. It is easier
to invest in a current relationship than start a new one, so never lose focus on customer
retention. To understand their thoughts about your business, you could conduct surveys, offer
loyalty programs and discounts, and focus on high quality customer service.
Related Sales / Repeat Order

Related sales refer to the additional products or services that customers purchase from
a company after they have made their initial purchase. This could include upgrading to
a higher-end product, buying related accessories, or signing up for a service contract.

Related sales are key indicators of customer satisfaction. They show that customers are
willing to spend more money with a company they are happy with. A high related sales
rate indicates that customers are satisfied with the initial product or service they
received and are likely to purchase other items from the company in the future.
Referrals

Referrals occur when customers recommend a company’s products or services to their


friends, family, or business associates. This is the highest form of customer satisfaction.
It shows that customers are so pleased with a company that they are willing to
promote it to others. When conducted, referrals can be a free marketing tool. They can
also help establish trust faster since you were recommended by someone the
customer already trusts.

Referrals can be tracked by asking customers how they heard about a company or by
monitoring online reviews and social media mentions. Referral rates show how many
customers recommend a company’s products or services to others. A high referral rate
indicates that customers are happy with the product or service they received. As a
result, they are likely to tell others about the company.
Tracking

It can be difficult when learning how to measure customer satisfaction by using the three
R’s, but there are a few ways to do it. One way is to survey customers after they’ve made a
purchase. Ask them how likely they are to continue doing business with the company or
recommend it to others. Another way is to track retention, related sales and referral rates
over time to see if there are any trends. If you have a customer relationship management
(CRM) tool, it’s a great place to log this information.

By tracking the three R’s of customer satisfaction, companies can get a clear picture of how
well they are meeting customer needs and expectations. By analyzing this data, companies
can identify areas where they need to improve in order to keep customers happy and loyal.

Building trust with your customers is one of the best indicators of long term success. Make
sure they believe you will work hard to meet their needs and will always have their back. Be
unique, reliable, and respectful when implementing your new strategies to reach overall
satisfaction for your customers.
CONNECT
FASCINATE
ADD VALUE
Hogshead’s seven triggers of fascination are:
Innovation: Change the game.

Power: Take command.


Passion: Attract with emotion.
Mystique: Arouse curiosity.
Prestige: Increase respect.
Alarm: Create urgency.
Trust: Build loyalty.

M - malasakit

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy