The Loss Prevention Calculator Can’t Calculate Negative ROI Due To Poor Customer Service
A free Loss Prevention Calculator can show you the positive return on investment should you purchase a new Sensormatic security system. After an experience I recently went through helping both of my sons purchase cars I realized there can also be a negative return on investment if you do business the wrong way. This article is about how our interactions in a customer service environment can impact the ROI of a product we sell or equipment we use in retail.
Here is what I mean. If I purchase a Sensormatic security system for my store to prevent shoplifting I expect it is going to result in some kind of financial return. I know this because the Loss Prevention ROI Calculator available from Loss Prevention Systems, Inc. (LPSI) shows me. The result I get is a close estimate of how much that system would save me in merchandise shortage each year and how long it would take for those savings to pay for the new system. That is fantastic. But there can be a catch. If I purchase that system but do not train my employees on how to properly use it or respond to alarm activations I can alienate customers. If an alarm activates because my cashier did not remove a clothing security tag from a shirt a customer will be upset. THAT would be a negative return on my Sensormatic investment.
What does this have to do with my car shopping experience? After doing some research on vehicles and looking at reviews of cars I took my son to a used car dealer. We were greeted and told we could look at any of the cars and the salesman said if we wanted to take a test drive it would not be a problem. We got keys to several and my son test drove one he was interested in. Interestingly, as opposed to other dealers I have been to in the past no one was hovering over me like a vulture. We were able to take our time and could find the salesman if we had a question. It was a great experience and my son made a purchase.
The next day I took my younger son to a dealership. They had some used cars online we were interested in looking at. We were definitely not in the market for a new car. I know there was no free Loss Prevention Calculator to help us in the decision process but there was a free car check report to use on their website and these cars looked clean. We got to the dealership and immediately a salesman came to the car and greeted us. I told him exactly what we were there for and had my list. He asked if I knew where the cars were on the lot!? He was the salesman why was he asking me? We looked at the three or four cars on my list and he had an excuse for each why it would be a bad choice. He took us to a car outside the price range I told him we were interested in. I allowed him to take my son for a test drive (he rode along unlike the dealer the day before). He tried to convince my son to buy this car and I told him no, we were only looking. To cut a longer story short we left and I did not go back. He and the dealership lost a sale. The inventory was there and had any effort been made on his part we could have walked out with a car. Two different dealers with two different results.
The Loss Prevention ROI calculator can give good information on how a system can help your business but your people can make it a negative return without proper training. The good news is if you purchase a Sensormatic system with LPSI you get that training for free! That is an incredible deal. Think about it for a moment. The Free Loss Prevention Calculator is free to use. The system can pay for itself over a relatively short period of time making it virtually a free system and you get free training from experienced Loss Prevention trainers. I don’t know how an offer can get any better. I suppose it can if I tell you that when you use the Loss Prevention ROI Calculator no one knows you are using it and no car salesman is hovering over you pushing you into something you don’t need or want.
People can make or break your business or the effectiveness of equipment or products. Training them on proper customer service techniques will enhance your reputation with your shoppers. By the way, my younger son did end up getting his car the following day…at the place where my elder son bought his.
Need information on the Free Loss Prevention Calculator? Give us a call at 1.770.426.0547 now.