What, truly, is happiness? Is it the central purpose of human life? A mere byproduct of luck? Is it a psychological state, or a positive evaluation of being? For businesses, the answer to all of the above questions is, of course, who cares. The only definition of happiness that matters is the one that applies to customers, and a happy customer is one that’s loyal, that keeps coming back for repeat purchases, and one that recommends you to family, friends and social media followers. A happy customer is one that represents excellent customer lifetime value, and happy customers as a group represent a big impact on your bottom line. According to a Gartner Group study, 80% of a company’s future revenue comes from a mere 20% of existing customers. Furthermore, it reportedly costs six to seven times more to attract a new customer than to keep an existing one. The way to amass these all-important happy customers, then, is to focus on customer retention by improving your customer service. Here are few tips you might just want to consider:
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