The Primary Function of a Business
The first thing that probably springs to mind is financial gain but is this really their primary function?
Of course the goal of almost any type of business is to make a profit….but the best businesses make a profit because they satisfy the requirements of their customers. This is extremely important but generally overlooked by so many businesses.
The primary function of a business is Customer Service, this is more important than making a profit! When Customer Satisfaction is the number one goal, profits will not only take care of themselves but they will be maximised and secure future profits also.
Most businesses are constantly looking for new ways to increase their profits, spending hard earned cash on attracting new customers. Think about it? It takes years to build your client base and probably oodles of cash, you have taken the time and effort to build credibility and a relationship with your customer…wouldn’t it be easier to continue to grow that relationship, by providing them with additional complementary services and products, things they maybe buying from somewhere else.
Fact, it is on average 8 times easier to sell to an existing customer, than to a new customer.
Not only by selling and looking after your customers do you increase your profits but they will recommend your service or products to other people! Yes, free advertising. We all recommend businesses on a regular basis without a second thought and without being asked. Why? Because of Customer Satisfaction.
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