Chick-fil-A founder Truett Cathy built his success on the idea of never losing a customer. Here’s how effective on hold messaging strategy can be a key component in keeping customers.
I am a big fan of Truett Cathy. I used to think I was just a Chick-fil-A fan. After all, I can’t think of any better chicken sandwich out there. But as my love for Chick-fil-A sandwiches grew, I learned more about the man behind the restaurant chain. What I discovered impressed me even more.
“Truett Cathy’s Five-Step Recipe for Business Success” is posted at his website. And while he obviously targets running a successful restaurant, there are several items that can be tailored to any business.
One that stands out is step No. 4: Never Lose a Customer. This is how Cathy describes it in his own words:
“Ever since I was a teenager delivering newspapers (for seven straight years), I have tried not to lose a single customer. I treated each one like the most important person in the world and delivered each paper as if I were delivering it to the front door of the Governor’s mansion. The key to succeeding with a paper route and the restaurant business, I would later learn, is to take care of the customer. Whether on the paper route or in my restaurants, I have found that the most effective way of promoting my business didn’t cost me anything but a little kindness to my customers.”
This is a good place to stop and consider your on hold messaging strategy. Statistics show companies spend 94 percent of their advertising budget to make the phone ring. But when callers are put on hold, 99 percent abandon the call after 40 seconds with just silence on the line. Chances are you have lost that customer.
But a creative on-hold advertising campaign can increase caller retention by 40 percent. Studies also show a 12 percent increase in inquiries about the products callers hear mentioned in on-hold messages.
If you are concerned about losing customers on hold, On Hold Company can help. We will craft an on-hold messaging strategy that reflects your business personality. We will work with you to see that callers not only stay on the line, but they feel like they know you afterward.
What’s the best business advice you have read or received? Who are some of the business leaders you admire? Share your thoughts by commenting below.