September 2007

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following article was first published in the Eastern Daily Press' 'The Business'  on 26 September 2007</I></div> <bR> <div> <B>Serendipity, or just being ready?</B></div> <bR> <div> Recently I described something that had happened to a client as `serendipity'.  When I said it, I intended the meaning roughly to be `you were in the right place at the right time'. The client had contacted a customer for no particular reason and was delighted to be offered, unexpectedly, more work.  If she hadn't made the call, she probably wouldn't have. Then, within a few days, the same thing happened to me.  So I thought a theme for this column might just be coming into focus.</div> <bR> <div> Next, when researching further the topic of customer loyalty, I happened across an article which mentioned some statistics that I had first used in this column 18 months ago, and another strand of this article emerged.  The statistics tell us why businesses lose customers:</div> <bR> <div> <IMG BORDER="0" SRC="Symb075c00b700dc00000000.png" HEIGHT="15" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">3% move away, geographically</div> <div> <IMG BORDER="0" SRC="Symb075c00b700dc00000000.png" HEIGHT="15" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">5% develop relationships with other suppliers</div> <div> <IMG BORDER="0" SRC="Symb075c00b700dc00000000.png" HEIGHT="15" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">9% leave for competitive reasons (not always price)</div> <div> <IMG BORDER="0" SRC="Symb075c00b700dc00000000.png" HEIGHT="15" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">14% (that's all) are dissatisfied with the product or the service</div> <div> <IMG BORDER="0" SRC="Symb075c00b700dc00000000.png" HEIGHT="15" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">69% quit because of an attitude of indifference. They simply believe we don't care about them.</div> <bR> <div> I think the final figure is terrifying.  And, surely, in most businesses there must be something that can be done about it.  But what?</div> <bR> <div> Wondering if my original use of the word was accurate, I looked up the definition of serendipity and found `making fortunate discoveries by accident'.  This got me thinking about the role good fortune, or luck, plays in our lives and our businesses.  It was Louis Pasteur who said “Chance favours only the prepared mind” and the prolific Sam Goldwyn who observed “The harder I work, the luckier I get”.  So, were the unexpected offers of new work that both my client and I enjoyed nothing but good luck?  No - I think they were something else.  They were the result of nothing more complicated than keeping in touch with the customer. </div> <bR> <div> Whilst it takes some organisation and a degree of discipline, it is not particularly hard work to maintain regular contact with people.  A brief note, or email; a periodic newsletter; an occasional phone call:  all of these are useful ways of letting customers (both active and inactive) as well as potential customers know that you're thinking about them.  As a rule of thumb, making some sort of contact every three to four months is good practice.  </div> <bR> <div> Then, instead of waiting for a serendipitous moment to bring good fortune, you can begin to improve your chances of being lucky far more frequently.  The writer and political activist Peter McWilliams said “In reality serendipity accounts for one percent of the blessings we receive in life, work and love.  The other 99 percent is due to our efforts”.   Put some effort into keeping in touch with customers and you will keep them longer, and the longer you retain customers, the more profit you will make from them.  Perhaps Brian Eno, one of the founders of Roxy Music, expressed it most succinctly.  He said “Luck is being ready”</div> <bR> </td> <td valign="top" width=180 BGCOLOR="#CC3333" TEXT="#080000"> <bR> </td> </tr></table></body>