Looking for a way to improve customer satisfaction, customer loyalty, and increase profits? Here is a perfect example of being Customer Centric.
There is a company that sold gift certificates to local Chambers of Commerce in West Michigan. The certificate were to be used in local area businesses as cash. However, the company that sold the certificates has now ceased operations due to the economy and is unable to reimburse the vendors the money it collects in certificates as cash.
Some local Chambers have advised their vendors not to accept the certificates from consumers at all. Some Chambers are taking the matter into consideration. But one local Chamber is putting the needs of the customer first, even though it will cost them in the short run.
The loyalty that these businesses will earn from their customers will pay off in far more revenue than it will actually cost them, estimated at $108,000. Customers will know what the local Chamber and vendors have done in this move to keep the trust of the consumers, and the consumers will go out of their way to generate more business locally. Trust and relationships are crucial in today’s business world, and this is a clear example of how it works both ways.
As reported by Emily Zangaro of Wood TV 8 – Jane Clark, president of the Holland Area Chamber of Commerce, says more than $3 million in checks have been purchased in the area since 2001. It’s good business for local shops. That is why they will take the expected $108,000 hit — money that will be covered through a rainy day fund.
“Even though there was a third party vendor, people bought these because they trusted the Holland Area Chamber of Commerce. And that trust is so precious that we didn’t want to violate that,” said Clark.
“It’s really hard for us as a restaurant or merchant to have to tell somebody that their certificate is worthless,” says Jurgensen. “We’re on the front line and I hate to do that to somebody.”
So now they won’t have to. They get the revenue and happy customers.