Many Americans are struggling to make ends meet due to recession. Many Americans are changing their spending habits and finding ways to save money, pay down debt and just live from one day to the next. The way companies do business has changed due to the recession.
Due to the recession there has been positive change in the way companies view their customers. Companies are may have been doing this previously but are really making an effort to:
1. Show customers how much they value their business
2. Offer discounts, incentives or waive fees
3. Provide sympathy or mini-counseling to customers to encourage them to keep their accounts open
4. Frequently thank customers for their business in various ways
It is unfortunate that it took a recession for some businesses to start providing top quality customer service. For so long customers have been frustrated by the lack of customer service they receive.
According to Empire Research Team, a typical business hears from only about 4% of its dissatisfied customers - 96% just go away, and 91% will never come back. Most customers just go away because they believe their complaints will not do any good, not worth the trouble or personal stress, or don't know where or to whom to complain. Fifty-six – seventy percent of the customers who complain to you will do business with you again if you resolve their problem.
If they feel you acted quickly and to their satisfaction, up to 96% will do business with you again, and they will probably refer other people to you. A dissatisfied customer will tell 9-15 people about the problem experienced and approximately 13% of your dissatisfied customers will tell more than 20 people about their problem. It costs five to six times as much to get a new (first time) customer as it does to keep a current one. It takes 12positive service incidents to make up for one negative incident.
Consumers can take advantage of this opportunity during the recession by asking for discounts or specials. Here are 6 ways to ask for discounts with companies you currently do business with:
1. For creditors, ask for the cancellation department. Tell them you are happy with the service you have received but are unable to afford the interest rate you are paying. Ask that the interest rate by lowered to an amount you can afford, at least 30-50% of what you are currently paying, i.e. if you current interest rate is 24%, ask for an interest rate of 12%.
2. For utility companies, ask if they offer any specials or discounts for customers.
3. If have a bundled package (you pay for multiple services with the same company), ask about additional discounts they may offer. If you don't currently get a bundled package ask for one to save money.
4. If you cable companies, ask if they offer any specials or discounts. Tell them you are happy with their service but cannot afford to pay the monthly bill, especially if any fee on your monthly bill has increased in the past 6 months. Tell them you found a cheaper offer with a competitor and would like to cancel your service.
5. For insurance companies, if you have not received any moving violations in the past 3 years and have a pretty decent credit score remind them of that. Tell them you feel that you are paying too much for your rate. Quote a price from a competitor and tell them you are considering switching to another company and then began negotiating.
6. For banks, if you have bounced at least once check call your bank and let them know you are currently experiencing a financial crisis. Tell them that you are happy with the service you are receiving. Ask them if they can waive the overdraft fee or fees (if you bounced more than one check). Thank them for any fees that they waive. In the future if you know a check will bounce contact your bank right away and ask them about any options or programs available for customers who have bounced checks, i.e. overdraft protection, etc.
When you call a business' customer service department, always be polite and courteous, this goes a long way.
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