What Does Customer Service Have in Common with Business Loans?

Small business owners starting up a new business and ready to apply for business financing would be wise to review the quality of customer service offered by their company. You have to consider that for whatever reason you have determined justifies seeking a business loan or business credit, part of the necessary planning includes how you intend to meet your monthly loan obligations. Customer service is a primary element in conducting business and will impact how well you are doing in your sales department. How many of us have gone out for dinner at a restaurant that has a reputation for serving very good food, but ended up with a server that was inconsiderate, careless and even rude. We may let it slide the first time, but if it happens again we will begin to feel that we ought not to return despite the fine quality of the food. Poor customer service leaves an unpleasant view of the business.

Good customer service leads to increased sales. Excellent customer service goes a long way to ensure loyalty of current customers who are sure to spread the good word about our company. Even if we inadvertently make a mistake or deliver a product that is not up to standard, the fact that people can depend on the customer care we offer encourages them to be a lot more understanding when we are in error. Superior customer service includes:

• Being a good listener and having the ability to really identify what a customer needs. Staunchly following a script or making assumptions is not always the best way to provide customer care. Remember that you are in business to sell your products or services to customers, so the better you understand their needs, the more you can help them with what you have to offer.
• Keeping in mind that people buy products or services because they are seeking a solution to a problem or need. They are more likely to buy from you when you treat them with care and respect. Spending money invokes a variety of emotional issues, so people can tend to buy based on how they feel about you. If they feel like you understand them and have their solutions, they will do business with you.
• Taking the time to develop a personal relationship with a customer is extremely important. It starts by learning their name. Customers want to be treated as individuals and to know that they matter to you. They want to be appreciated. Beware of paying “lip service” to personal interaction with a customer – they will be quick to pick up on a “phony” attitude.
• Demonstrating that you truly value their business and want them to stay with you as their product or service provider. You can do this in a number of ways, such as by going that extra mile when they need help, always giving them a little more than they requested, following up with them after the sale and asking them for their feedback.

It only stands to reason that as the owner of your business, you need to treat your employees the way you would like them to treat your customers. Employees need as much care and respect as your customers and the attitudes they develop as a result of how they are treated are what they will pass on to your clients. They will value your customers if they feel they are valued. Appreciation begins with you and ripples out. Having loyal employees means that they are committed to your company’s good standing in reputation and sales. The sales that your employees generate by offering outstanding customer service reciprocates in the form of increased sales and this is precisely what you need to repay you small business loan.