Lynn Thomas’ new #1 Amazon best seller, Wow Your Way to Profit, outlines a powerful solution for retaining both customers and employees. The book reached #1 in Customer Service and #4 in Marketing and Sales categories on Kindle.
Thomas, the founder of Thomas Consulting, is passionate about her mission to have both clients and employees happy and delighted. A 1% increase in customer retention correlates with a 5%-27% increase in profits within 2-3 years. Clearly, retention significantly impacts business growth.
Speaking often about the dangerous myth of customer satisfaction, Thomas warns her clients not to buy into it. “Customer satisfaction surveys do not retain clients, yet 92% of the Fortune 500 companies every year continue to spend billions of dollars on them. Surprisingly, only 2% of the companies can show any increase in sales or profits attributable to survey results. Yet, they continue the same behavior.” She continues, “I cringe when a client says that the company just wants to satisfy its customers. Why? Because 60-85% of us are ‘satisfied’ or even ‘very satisfied,’ but we still leave businesses in droves every day.”
What generates stickiness (retention) are very high levels of satisfaction; a 4.7 on a scale of 1-to-5 will work. In fact, at that level, customers are superglued to the company. At the 4.7 level, they are six times more likely to stay, six times more likely to refer, and six times more likely to cross-buy. Any lower level generates a costly customer and employee churn; companies pay on average seven to nine times more to replace a customer and three to five times more to replace an employee than to retain them.
In Wow Your Way to Profit, Thomas outlines the tough, foundational questions companies must address to begin seeing profits through customer and employee retention, including knowing your top customers’ overall experience with your company.
Wow Your Way to Profit is available in both Kindle and print versions on Amazon.
A reader shares insights on Wow Your Way to Profit:
“Ms. Thomas’ enthusiasm for client and employee retention is immediately apparent. The book is rich with information and insight. Throughout, she caused me to think…and then to think some more…about what I can do differently to further improve the service experience that customers have with my department and company. In fact, I came up with 3 ‘rock solid’ ideas while reading this book. Now that’s an ROI!”
About Thomas Consulting
Founded in 1989, Thomas Consulting specializes in helping business increase their profits through its proprietary methodologies. These are so effective that for all of its programs, the company offers a 100-300% ROI within one year. Ms. Thomas is an experienced, knowledgeable, innovative, and pragmatic consultant with a proven 25 year track record of working with over 475 companies to increase their profits by increasing customer retention and delighting their customers. The clients experience a unique approach that is fully customized and includes measurable and actionable steps toward cultivating a powerful client-focused company.
Learn more about Thomas Consulting here.
Company Name: Thomas Consulting
Contact Person: Lynn Thomas
Country: United States