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There exist many businesses across the length and breadth of the world that started with one particular vision that deserve being fulfilled with the aim of meeting the demand of the end-users of the products or output of such business concern.
While some businesses are small in size, others are gigantic in size but the sole aim of any business that desire to stand a test of time or probably become a legacy is to offer acceptable products and services that is capable of meeting the objectives of production and marketing of such business.
Products of any business become accessible in the market when it is produced in a way so that whatever the needs of the end-user and customer is would have been put into consideration and efforts are put in place to meet the needs of that might arise when customers and end-users demand for better service.
In the light of this, customers determine to a large extent the longevity and the survival of any business which simply connotes that whenever a smile is put on the face of the customer in meeting the needs of the customer, business that put such smile on the face of such customer will smile too by becoming healthy and strong enough to stand the competition that is available in the general business world.
Competition in the general business world is so strong that it is grievous enough to swallow any business idea and concern that is not ready to bow to the demand of customers.
Customers dictates, control and measure the prosperity of any business which is a determinant of what will make the progress of such business to be either short term, middle term or long term.
Businesses are founded on vision that must be driven by passion, commitment,
determination, perseverance and total accountability that is necessary to project the financial strength of such business from nadir to zenith by moving from zero to billion in terms of financial muscular strength.
The aim and objectives of any business is simply and basically fashioned toward meeting the needs of customers which ends up raking in and increasing the profit margin thereby pushing the financial stand of such businesses forward to the point whereby expansion of such businesses and the establishment of the ideals of the vision of such businesses to become a household references will not be a hard nut to crack or a mirage.
Without any iota of doubt, every business minded person or business savvy person understands and knows the impact and impart of customers to the fate of any business.
No wonder, it was buttressed by a common saying that:
“Customer is the king”
This simply connotes that the customer possesses a magic wind that demands kingship in terms of treatment and attention, and it also have a way by which it injects and infuses kingship into the business as long as the business-owner understand the kingship roles and relationship which seems to be a mystery that must be unveiled by anyone who desire to have a successful business.
Unveiling the mystery of such kingship roles and relationship has its routes and roots in having a deep knowledge about how to maintain relationship with customers in terms of attention and general treatment of such customer in meeting the customers’ needs and when it is timely done, it has a way of magically gluing such customer to demand for more product or service from the business.
Some of the few mysteries that must be ensured in maintaining good relationship with customers are:
1.Give utmost attention to your customers
2.Listen and attend to the slightest complaints from them.
3.Always pay them scheduled visit if there is a need for it.
4.Be courteous and respectful when attending to them.
5.Build and maintain a friendly relationship with them.
6.Make them your family.
7.Have their manifest and bio-data including contact addresses and numbers.
8.Ensure that your business processes encourage giving of discounts and rebates.
9.Ensure that you build a network of customer.
10.Always ask for feed-backs from your customers.
It is when some of these aforementioned points about customer-service relationship are adhered to and make use of that the business owner could be assured of projecting the financial base of the business to a multi-billion dollar conglomerate.
More customers signal and confirmed the acceptability of goods and services rendered accompany with the marketability of the products offered for sales and it is a pointer to the growth in the financial muscle of the business from zero to multi-billion dollar enterprise that will be on the stock exchange.
In a situation when some of this little efforts are put in place in any business concern, it will be easy for the ideals and vision of such business concern to be easily propagated to more customers that are struggling to make up their minds in patronizing the goods and services of such business.
Any business that aimed at being progressive geometrically must build its focus and foundation on the satisfaction of customers and end-users. Any offer of goods and services that refuses to meet the needs and demands of customers and end-users is bound to fail and loose its market control and share within a little space of time.
The prosperity of any business ideals is a function of the prosperity of its customers which is determined by the acceptability and marketability of the goods and services being offered in the competitive market world.
The competitive market world becomes friendly to goods and services when the goods and services are friendly to the customers and end-users by meeting and satisfying the needs of such customer at any point in time.
Good relationship offered and maintained with customers and end-users become visible and feasible when customers and end-users keep demanding for more and this will invariably enhances the financial base of such business ideal to become more firm and fertile having a pillar that will be a source of support needed to strengthen such business ideal to accommodate more drive for innovation and other business hub that will end up springing up from such business ideal.
It is through such expansion that the progress of any business ideal can be measured and this will proffer a solution to whether more funds should be pumped into the business. The more the increase in the influx of customer, the more the strength of the business and the more the drive for expansion and enlargement become loud and needed.
Good business and many business conglomerates that are in existence in the entire world are the businesses that have been able to unveil and understand the mysteries of running after customers and making sure that whatever is demanded by the customer is attended to and treated with utmost timely importance which ends up enlarging customer base.
An enlarging customer base is an enlarging financial base culminating into a financial strength that will birth geometric expansion of the business thereby becoming beneficial to the business and the customers.
With this, there is a need for every stakeholder involved in a business to seek for means and methods of growing and grooming a customer base that will be so strong in numbers so that the input of the customers can trigger the enlargement of the business concern transforming into a financial growth based on customer satisfaction that is enough to build a customer base.
The progress of every business is anchored around the response and reactions of customer to whatever the products and services such a business concern might be offering at a particular period of time.
Good customer service will enhance good customer relationship culminating into good patronage by customer which ends up building a financial stable future for such a business in the process of time.
Here are the simple 7 advantages of good customer Service to a any business concern:
7 Advantages of giving Good Customer Service
One of the reasons good businesses become great is because of the loyalty they command from their customers. This loyalty ensures that the customers stay back with the company over the years. To command such a loyalty from customers, you need to give good customer service.
A common pitfall in starting a new business is that you do not have enough manpower to concentrate towards service issues as well. You are busy generating revenue or managing working capital. You are more busy in acquiring new customers. What happens is, WHEN you have existing or old customers, there is no one to give customer service to them.
This naturally creates a problem because the customer then leaves your storefront disappointed. So, naturally, your customer service is going to have a great impact on your customer retention. This is the reason that you need to give good customer service.
Here are the Main advantages of giving good Customer service.
1) It retains the customer
Naturally, when the customer is happy with your service, he will stick back with your brand and will not shift to competitors. This in itself is a big plus point for the company as customer retention is far cheaper then customer acquisition.
2) Gets you more references
When you give good customer service, your customers talk about you to others. They tend to do so even more when they have been receiving good quality service over a period of time. These references mean money to your business. The more the references, the more customers acquired without spending a dime.
3) Creates word of mouth
I once traveled to Singapore through a travel operator. I was so impressed with that guy, that till date i would have given him references of at least 10 tours. These 10 customers will surely refer him to their friends, and so the word of mouth has traveled a long way from a single customer. The word of mouth may travel to many people, but everyone will not be a customer. Nonetheless, a good customer service can generate excellent word of mouth.
4) Increases profitability
When your service is good, and the word of mouth and references are good, you will acquire new customers at a fraction of the cost you were supposed to. A normal business spends a lot in advertising, promotions and whatnot to get customers to walk in to their doors. But with good customer service, all that is being done by your existing customers. This ensures fantastic profitability as you are getting maximum returns on the investment already done.
5) Gives you and your employees confidence
When a customer praises your business, it also boosts your employee morale. Naturally, over a period of time, your confidence rises on your business and you now know that giving good customer service is the key to build confidence in your employees, who will be empowered enough to keep their customers happy. Ultimately, your own internal customers are also happy.
6) Creates a holistic marketing scenario
With your employees motivated, with your insight into the customer mindset and what makes the customer happy, and with the positive and happy customers, the overall business becomes a holistic marketing scenario; wherein everyone is doing their part for ultimate customer satisfaction. This is the best thing you want to achieve as an organization, because even the smallest employee understands the role he plays in customer satisfaction. So with such a work environment, you are sure to succeed.
7) Competitive advantage
Last but not the least, your customer service and the manpower that you employ for service can become your competitive advantage. If your employees themselves are building relationships with customers, then they will not allow a competitor to enter or place toehold. Hence, your business becomes sustainable and competitive and difficult to beat.
Thus, as you can see, there are tremendous benefits to any business once it starts giving good customer service. In all of the above benefits, two points stand out – Customer retention as well as competitive advantage.
The reason that these two points are most important is because of the number of brands out there and the increasing competition which is affecting a lot of businesses. So the sooner you build a competitive advantage, the better it is for you and your business.
| Customer service is an important part of every business. Benefits of good customer service include repeat customers, more sales, and better cash flow.
Whether you own a restaurant, a hair salon, or any other type of business, creating consistently stellar customer experiences plays a major role in your success. And with technology allowing people to relay their experiences through other outlets besides word-of-mouth, like social media, public forums, and review websites, the cost of one bad customer experience is much higher than it used to be. Fortunately, positive reviews have the ability to reach consumers just as quickly as negative ones, so the quality of your company’s customer service should be high on your priority list.
Consumers aren’t always easy to please, and now more than ever, they look for instant gratification. Take a look at how demanding and impatient you are in your own daily life. If you want to conduct an online search, for instance, you expect every website to open right away. No waiting. No delays. The moment your expectations are not met, you close the page and move onto the next. Immediate results are what we all want now whenever we’re tasked to do something, so a customer who has to wait an extra minute on a check-out line at the grocery store because the cash register is outdated is net getting a stellar customer experience. That minute probably feels more like an hour.
The good news is that as a business owner you have considerable control over your customers’ experiences – by hiring people with the right disposition for the job and staying up to date with the latest technological advancements to efficiently and effectively meet your customers’ needs.. Doing this will allow you to reap all the benefits of exceptional customer service:
One obvious benefit to providing stellar customer service is repeat business. When consumers know that their needs are paramount to your company’s employees, returning to your restaurant or retail establishment is an easy decision..
Besides becoming regulars, consumers who are satisfied with your company’s customer service are more likely to share their praise with others, thereby increasing the number of referrals you receive. You can use this to your advantage for your online presence. Though word-of-mouth is still an effective way to market your products and services, getting consumers to recognize your company on the internet—social media, review websites, as well as the company’s own website—will help your online presence reach even more potential customers. Having a beautifully designed website won’t do you much good if nobody visits it.
With more customers, your company will experience an increase in sales, which means more money to repay lenders, hire new employees, invest in the latest technology, and ultimately, expand your business. Obviously, increasing your sales will significantly improve your cash flow as well.
Investing in new technology can lead to even happier customers. The customer check-out could be the last touchpoint you have with your customers, so you don’t want them to leave you on an unpleasant note after they’ve had an exceptional experience up until the time they pay for their goods or services. If you have the latest credit card processing terminals and point-of-sale systems with updated software (and the ability to process EMV-enabled cards), you will not only improve the check-out experience for your customers, but also ensure the protection of their card information. Best to not have them leave the store with an unpleasant taste in their mouths because the checkout process was slow or they felt their card data was in jeopardy. You want them to rave about the quality of your products, as well as your superior customer service and modern amenities.
Better Work Environment
A company that provides consistently exceptional customer experiences doesn’t just benefit consumers—it also has a positive effect on the employees. For instance, having happy customers makes for happy employees. No one wants to deal with hostile consumers because their attitude will rub off on the people around them. In addition, employees empowered to go out of their way to deliver and actually do deliver above-and-beyond experiences for their customers feel better about themselves and the job they do. This can have a transformative effect on one’s job satisfaction.
By radically improving your customers’ experiences of doing business with you will increase sales, which will lead to more profits with which you can hire additional employees, which should result in in a calmer work environment because employees won’t be pulled in different directions and they can focus on one task at a time. Or perhaps you can use increased profits to retain your most customer-focused employees by paying them better or hiring more talented ones that demand better pay.
Having exceptional customer service is important for every business, so if you make it a priority, your company will stand out from the others in your industry and attract even more customers. This will add to your bottom line and improve your workplace environment. Don’t make the mistake of ignoring consumer needs or thinking that one unsatisfied customer won’t negatively impact your business, because in today’s world, people are inclined to share with everyone, not just those they already know.
Good customer service enhances the progress of bottom line or downline and as the bottom lines grow,the business continues to thrives and grows exponentially and geometrically.
Hence, the need for every business to grow and develop bottom lines is essential to the growth of the business.
These are some of the effective ways by which good customer relationship triggers the development of the bottom- lines.
We all know that providing excellent customer support is important. But did you know that the quality of your customer support affects your business’ bottom line?
By increasing the quality of your support services, you can actually increase your profit. And, by offering poor customer service, you risk negatively impacting your revenue. Below are 7 reasons why customer support can affect your bottom line:
Customer retention is absolutely vital for any company. This is because retaining an existing customer costs significantly less, both in terms of marketing and maintenance, than landing a new one. Additionally, repeat customers are more likely to spend more money on each purchase. So, if you want to make sure your profits are hearty and your retention rates are high, you must provide amazing customer service.
In fact, over 90% of customers who are dissatisfied with your customer service experience will, rather than telling you if something is wrong and how you can improve it, just not come back. Therefore, it’s in your best interest to provide consistently high quality support services to help increase your retention rate and improve your bottom line.
Your customer’s experience with your support team can directly affect whether or not they actually carry out a purchase that they set out to make. All too often we see poor support result in a customer abandoning the purchase. In fact, 78 percent of consumers have bailed on a purchase that they intended to make because of poor customer service. That means that if you’re not providing helpful, informative customer service, you risk losing business.
Sure, we all make mistakes, but when it comes to customer support, it’s in your best interest not to make them. Because it takes as many as 12 good experiences for a business to make up for a lousy one, just one mistake has the ability to drive customers away and cost your business a lot of cash.
Bottom of Form
Your company’s reputation is everything. A good reputation could be the difference between an average business and a very successful one. Unfortunately, when it comes to support services, bad news travels fast and far. In fact, twice as many people hear about a bad customer service experience than a good one. That means that it’s well worth the trouble to take time to address any issues that your callers have. It will enhance your company’s reputation, which could lead to more customers via word of mouth in the future.
While it’s true that a tarnished reputation could lead to a loss of customers, it’s also true that a good customer support reputation could actually attract new business. That means that by making sure your support services are in tip-top shape, you have the potential to gain new customers and make more money, just based on word of mouth advertising alone. In fact, three out of five people say that they’d happily swap companies in search of a better service experience. Improve your bottom line through retention by providing a good support experience, but also let your reputation rise and help you bring in new customers too.
If you go about it in a careful and gradual way, having really strong customer service may allow you to actually charge more for your services or products. That’s because most consumers are willing to spend a little more cash to guarantee that they will receive a quality customer service experience. If you decide to go this route, you won’t regret it. In fact, 70 percent of U.S. consumers are willing to spend more money to go with a company who they believe will provide top-notch customer service. So go ahead and find the sweet spot. Improve your customer support dramatically and, as you do, experiment with raising your prices a little too.
The emotional experience a customer has during an interaction with your company directly impacts how much money they are willing to spend. In fact, 70% of buying experiences are based on the emotional experience of the customer and how he or she feels she is being treated. So by really focusing in on the quality that your support team offers, you can make customers feel happy and valued, which will directly impact sales.
Customer support is the backbone of any business. It has the ability to make or break a customer’s experience and, therefore, impacts your company’s bottom line in many ways. Good customer service can flat out make you more money. But remember, just because a customer isn’t complaining doesn’t mean you should automatically assume that they’re satisfied with your support experience.
Only about 4% of dissatisfied customers let the company know that they’re unhappy with their service. Just keep in mind that there’s always room for improvement so keep working hard to provide the best customer support possible.
On the contrary, good customer service has been discussed, there is a need to discuss the adverse effect of bad customer service to any business concern.
Customer service is arguably the most important thing for your business to get right.
Great customer service can overcome poor marketing, but it’s incredibly difficult (and expensive) to replace poor customer service with even the most exceptional, “delightful” marketing.
Inbound marketing is customer-focused and inherently aids customer service, but that doesn’t mean companies who use it can’t still be guilty of bad service experiences.
Top Side Effects of Bad Customer Service
Of course, “good customer service” is often up for interpretation.
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It’s only normal for small mistakes to happen or to encounter customers that are impossible to deal with. These are generally small bumps in the road and don’t constitute bad customer service.
These situations, however, are usually considered universally unacceptable:
Companies who are guilty of these bad customer service traits often face negative consequences — many of which are difficult to overcome and can lead to the company’s failure.
The good news is that even the worst customer service habits can be corrected without detrimental damage to your brand, assuming you take action quickly.
In this article, we are doing to discuss 5 dangerous side effects of bad customer service and what you can do to reverse those damaging effects.
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” –Warren Buffett
Your brand’s reputation is incredibly valuable and not something you want to lose control of. However, especially with the internet, your reputation is the first thing to take a hit when you have an extended streak of bad customer service.
Customers today are quick to write negative reviews online when they have a bad experience with a company. In addition to leaving critical reviews, customers also vent their frustrations on social media for their friends, family, colleagues, and the entire world to see.
In a recent study, 95% of respondents said they usually tell at least one other person about a bad customer experiences with a company, while 54% said they share it with at least 5 other people.
Just in case you think people aren’t reading reviews or searching for discussions about brands on social media, that same study found 88% of respondents have been influenced by an online review when making a buying decision.
What this adds up to is a decrease in overall sales, but more importantly, a major decrease in word of mouth marketing — arguably the most valuable marketing outlet a brand can have.
How to Repair the Damage
Have a key figure in your company reach out to those who have received bad customer service to make amends.
Responding publicly to negative reviews, accepting responsibility for the wrongdoing, and informing people that you’re making strides to permanently solve the issues can do wonders for negative perspectives people may have of your brand.
Always, however, make it a point to move this conversation to a private discussion. Don’t go back and forth publicly (nothing worse than a Twitter war), because you risk doing more damage than good.
After you’ve reached out to the consumer, based on the negative feedback, address the problems internally. Set a higher standard for customer service and make it a top priority until it’s become a permanent fixture in your operations.
With this advice, you’ll not only be able to improve your reputation in the future, but possibly even win back a few customers who had poor experiences.
Bad customer service kills conversions.
Although the term customer service implies current customers, all interactions with prospects, leads, and anyone else can fall into this realm.
How many times have you reached out to a business and never heard back? How frustrated were you?
Now, imagine what your leads are thinking when they request a consultation and never hear back, when they have to wait on hold forever, or when sales reps are slow to respond.
“If this is the service I get when they’re trying to take my money, how are they going to treat me once they have it?”
Customer service departments already have a negative stigma associated with them as a whole, so why not surprise people with a positive experience?
Great customer service upfront leaves an awesome first impression and gets leads excited about doing business with your company.
How to Repair the Damage
If your team doesn’t already use a CRM, start using one immediately.
A good CRM can help sales reps respond to leads quickly, with all of the information they need at their disposal, and helps you keep track of every engagement that person has had with your company, in order to better serve them. (Note: HubSpot has an awesome free CRM that’s easy to setup, learn, and use.)
Also, make sure to use a “Smarketing” strategy that aligns marketing and sales goals. Having this makes it easier for sales reps to deliver the best customer service, while also using marketing to deliver more value to leads before they interact with sales reps.
By now you’re aware that acquiring new customers is usually more expensive than keeping your current customers. That is one of the primary reasons delivering great customer service is so important.
Did you know 9 out of 10 customers say they’re willing to pay more to ensure a good customer experience and as much as 70% will continue to do business with you if you resolve a complaint?
While bad customer service can destroy your average customer lifetime value, putting more strain on your marketing budget to attract more customers, good customer service can actually savethese relationships.
How to Repair the Damage
Inbound marketing can be used effectively to retain customers by providing:
Marketers often get caught up in focusing solely on customer acquisition, when customer retention generally has a higher ROI.
Bad customer service has negative side effects in all areas of business. Not only do you lose customers, but you run the risk of losing your best employees.
When your companies has a customer service problem, your best employees are forced to pick up the slack for bad employees. This leads to burnout and dissatisfaction from the people you rely on most.
If your company develops a bad reputation, your top performers may also jump ship when they realize things are going south.
How to Repair the Damage
Reward your best employees and don’t keep bad employees around. Great customer service starts with a great company culture.
Average employees will perform to the level that’s considered “normal” in your company culture. When bad customer service is normal, they don’t feel incentivized to improve. However, a company culture where quick, friendly, and professional customer service is expected sets the bar higher for average employees.
The positive side effect of a great company culture is that it attracts better employees and gives them a reason to stick around, which ultimately improves all areas of business, including customer service.
Bad customer service can also create a downward spiral for profits.
First, your reputation gets damaged and you start losing new sales, (especially from referrals), then even your loyal customers start to leave.
At this point, you’re forced to decide, do you cut costs and try to ride it out or do you double down on marketing to attract new customers?
If you cut costs to make up for the lack of revenue, you still have to improve your customer service through training or recruitment, which requires more resources.
On the other hand, trying to outspend your poor customer service in marketing might attract new customers, but the problem only gets worse with scale.
How to Repair the Damage
Address problems with customer service early and often.
Regularly survey customers, chat with them when you can, and monitor customer service KPIs.
The best way to solve bad customer service is to prevent it, but the second best way is to get it corrected before it gets out of hand.
Companies which constantly deliver poor customer service eventually go out of business. Customers today have so many options and will turn to a competitor if encountered with a bad service experience. No matter what type of business you are, your customers always want to be heard and treated well.
According to a recent report published by WalkerInfo a consulting firm for customer intelligence, customer experience will surpass price and product as the key brand differentiator by 2020. Customer experience continues to be a decisive factor for many customers. Keeping this in mind, it is important for businesses to understand how a poor service experience would impact the company. Here is a look at what happens:
Loss of business and returning customers
No matter how amazing your product is, if you are not meeting the service expectations of your customers, they will never be satisfied with what you are offering them. Ignoring the needs of your customers and not listening to them will result in annoyed customers who will leave your business. You will never have returning customers if your customer service is not good enough.
Your customers would publicize the truth on social media
If you are not serious about listening to your customers and resolving their issues sincerely and immediately, you are likely to not only lose customers but this will also adversely impact the reputation of your business. Most of the customers will not refrain from revealing the truth about your terrible customer service on social media channels like Facebook, Twitter and Google Plus. Comments such as these spread rapidly across social media and this will result in your business becoming notorious for providing the most terrible customer service.
The Bottom Line
A poor customer service experience always creates a negative impact on your business no matter how established it is. Every business relies on repeat customers and sales and the positive feedback provided by the customers. Companies delivering poor customer service lose customer loyalty, return business, profits, reputation and employees in the end.
The 3R Rule: Responsibility, Resolution, Respect
If you are passionate about raising your brand’s reputation and want to make sure that your business thrives and grows, you should follow the 3R Rule of Customer Service.
1: Responsibility: Even if your company has made a small mistake or a blunder, you need to take responsibility of that rather than arguing with the customer. Trying to prove the customer wrong will make you lose the customer for good.
2: Resolution: Leaving a customer’s complaint unresolved is considered to be one of the greatest follies in customer service. You need to instantly provide resolution to all your customers’ issues.
3: Respect:The key to winning your customers’ hearts is to treat them with utmost respect. It requires training customer support staff to be extremely courteous and friendly towards all customers no matter what the medium of communication is, be it live chat support, telephone or email support.
In conclusion, one could realized that businesses will remain stagnant once the customers patronizing such business are not treated as one of the major stakeholders of the business.A situation whereby customers are treated as an outcast in a business, such a business is bound to fail within a short period of time.
In essence, good customer service is the soul of any business that desire to grow,expand and enlarge within a shortest period of time.No matter how great a business idea and concern might be,it is the customer of such a business that has the magical strand to make such an idea acceptable in the market.If the customer of such business is relegated due to one reason or the other, the business might end up being relegated also.
The need to place premium and value on customer service that is based on giving the best in terms of services to the customer is important than whatever the scope of the business might be.
The success of your business can never be separated from the customers that patronize your business.
Give your customer a voice and your business will have a voice.
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So I’m trying to get back to blogging after that long hiatus with a quick review, of the Charlotte Tilbury Instant Look in a Palette in Seductive Beauty, also known as the palette that only took me a month to hit pan. I was going to do a review when it was all new and […]