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The Balihoo Kennel is a company blog put together and contributed to by Balihoo employees. Balihoo (www.balihoo.com) is the premier provider of Local Marketing Automation technology and services to franchises and national brands with local marketing needs. Balihoo brings enterprise-class marketing to the local level and gives national brands full visibility into all local marketing activities and results.
The #1 thing that small retailers must continue to emphasize during tight financial times is customer service. It helps to have a great messaging strategy but if customers aren’t being served well and leave “happy” it all goes away quickly. When customers are happy the all-time-number-one branding tool kicks in - Word of Mouth.
Word of Mouth has definitely extended into the realm of social media and for certain, social media can be a benefit. But it can also be a huge liability. The same rules of old apply - ““A happy customer tells one friend, and unhappy customer tells everybody” but that now means much more than it did because of social media. Now “everyone” means the world. So small businesses have to have their ear to the ground in more ways than ever before - they have to “listen” to the blogisphere and react accordingly. This may sound tactical and reactive but businesses are neing run on this level everyday - especially now.
They spend their time in the trenches maintaining what they can and they have to be selective. Most of them are pretty good at this or, statistically, 50% are out of business within a year and only 1 in 4 typically survive for 10 years - in good times. What is the #1 factor for business survival beyond effective nuts and bolts business administration? Customer Service.
Comment by Dave Green — November 23, 2009 @ 11:35 am
Great comment Dave - you are 100% correct that customer service is a massive factor in the success of any business and especially important in times where a consumer can broadcast their sentiment. Your point is a further illustration of where business owners should be focusing their efforts. Investing time into the things that are well within their control (like customer service) and outsourcing the things that need more professional help, like marketing, legal, accounting is the right way to be successful in a small business.
Thanks for the comment.
Pete
Comment by Pete Gombert — November 23, 2009 @ 11:56 am