Have Your Cake and Eat it Too

Have Your Cakeand Eat it Too:

Happy Customers, Happy You

Why investing in customer satisfaction should be a top priority

Can you have your cakeand eat it too?

2711 West Ash Street, Columbia MO, 65203 | 800.325.4138 | www.mbsbooks.com

Can you have your cakeand eat it too?

Happy Customers = Happy You


Do you make customersatisfaction a priority?


Do you make customersatisfaction a priority?If you don't,you should!


First, some stats:

$83 billionis lost annually in the U.S. due to poor customer service.

Source: Parature


$83 billionis lost annually in the U.S. due to poor customer service.

Source: Parature

89% of dissatisfied customers choosea competitor for their next purchase.

Source: Harris Interactive


4% of dissatisfied customerscomplain. 96% simply leave.

Source: Harris Interactive


Acquiring a new customer is 6-7 times more expensive than keeping

a current one.

Source: White House Oce of Consumer Aairs

Current Customer New Customer


A 2% increase in customer retention has the same eect as decreasing

costs by 10%

Source: Leading on the Edge of Chaos,Emmet Murphy & Mark Murphy

Increase Decrease2% 10%


On average, loyal customers are worth up to 10 times as much as their

first purchase.


XFirst

Purchase


It can take up to12 positive experiences to make

up for one negative one.

Source: Understanding Customersby Ruby Newell-Legner

=


Now, some inspiration:

Courteous treatmentwill make a customer a

walking advertisement. JC Penney, Founder of J.C. Penney stores


You don't earn loyalty in a day.You earn loyalty day-by-day.

Jerey Gitomer


Acquiring a new customer is 6-7 times more expensive than keeping

a current one.


The more you engage withcustomers the clearer thingsbecome and the easier it is

to determine what youshould be doing.

John Russell, President, Harley Davidson


Let's go back to that one.

The more you engage withcustomers the clearer thingsbecome and the easier it isto determine what you

should be doing.

John Russell, President, Harley Davidson


This is a key point for college stores.

The more you get out there and interact with customers.


The more you get out there and interact with customers...

The better youll be able toserve them.


You have to be out there, actually out on the campus, if you want to have

an edge over your competition. Students recognize me and so theyll

come into the store just to say Hi. Our store is a true part of the campus

community that takes a little eort.

Sue Machuca, marketing and events coordinator The Phoenix Bookstore, Green Bay, Wisconsin


So how do you do it?


1. Oer fun and unique promotions that coincide with major events

(like buyback andthe beginning of term)


Hint: You dont have to spend a lot to make it memorable. Students love getting a treat, even if its a small one.

Learn More


http://foreword.mbsbooks.com/?p=8258#sthash.Ru83bXUm.dpbs

The more unique and fun the promos you do for the students are, the more they appreciate and enjoy them. So go for it. When we really jump out of our comfort zone is when the students notice that we are doing something new. It doesnt have to be huge or expensive but just make it fun and dierent.

Chris Bentz, Textbook Manager, Wheaton College Bookstores

Read The Story


http://foreword.mbsbooks.com/?p=11786#sthash.NNiGTew0.dpbs

2. Inspire loyalty.


A loyalty program rewards yourstudents for items they

would probably buy anyway.


Why should your store have a loyalty program?


"During our welcome program for newly accepted students, we had a ton of students and parents come tour the bookstore and every one of them signed up for Tiger Rewards. Many of them expressed how great of an idea the program was and some of them even asked me why we hadn't done it sooner-it was great!"

Stacy Elofir, director of University Store at Towson University

Learn More


http://cdn2.hubspot.net/hubfs/445231/MBS_Textbook_Exchange/downloads/RS896_Towson_hig_res.pdf

Also, its not just limited to students!


Read The Story

A lot of students and parents alike register for our loyalty program which is great since it gives an extremely high probability that the customer will return to purchase more merchandise or books.

Dino Silva, Webstore Manager, West Chester University Bookstore


Learn More

http://foreword.mbsbooks.com/?p=12263#sthash.e00gYTDK.dpbs

3. Keep interacting.


We always have at least one contest or giveaway running and sometimes we have a few at the same time. We want to keep the students engaged and we want them to look forward to our next one.

Erin McGonigle, Marketing and Online Sales Coordinator, UMBC Bookstore

Read The Story


http://foreword.mbsbooks.com/?p=11327#sthash.i0N39qY7.dpbs

Dont forget about

When your customers are interested


When your customers are interested &appreciated



appreciated &engaged



appreciatedengaged &

happy

theyll keep coming back.


And you know what that means...


Happy Customers = Happy You


Its easy to start your own program.


Learn More

http://ucdavisstores.com/home.aspx

75 Customer Service Facts, Quotes & Statistics. (n.d.). RetrievedJanuary 12, 2016, from http://www.helpscout.net/75-customer-service-facts-quotes-statistics/

Digby, J. (2010, October 26). 50 Facts about Customer Experience | Return on Behavior Magazine. Retrieved January 12, 2016, from http://returnonbehavior.com/2010/10/50-facts-about-customer-experiece-for-2011/

Shaw, C. (2013, June 4). 15 Statistics That Should Change The Business World But Haven't. Retrieved January 12, 2016, fromhttps://www.linkedin.com/pulse/20130604134550-284615-15-statistics-that-should -change-the-business-world-but-haven-t/

http://www.helpscout.net/75-customer-service-facts-quotes-statistics/http://returnonbehavior.com/2010/10/50-facts-about-customer-experience-for-2011/https://www.linkedin.com/pulse/20130604134550-284615-15-statistics-that-should-change-the-business-world-but-haven-t/

Date post:	19-Feb-2017
Category:	Marketing
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