This is the subhead for the blog post

The three Rs of online success: customer retention, employee retention, vendor retention. Think about this for a minute and I think you’ll agree with me.

Customer Retention

Successful Companies:

  • Get rave reviews for customer service
  • Acquire a customer once but get repeat orders for a lifetime
  • Live and breathe the notion that ‘the customer is always right’

Failing Companies:

  • Think of customer service as a cost center and nothing else
  • Expect customers to buy once and never again
  • Regard customers as suckers that can be tricked to maximize revenue

Employee Retention

Successful Companies:

  • Believe that employees are the lifeblood of the company
  • Understand that money is not the primary motivator for employees (a feeling of accomplishment and respect for peers is)
  • Hire and retain team players
  • Refuse to tolerate self-interested politics

Failing Companies:

  • Do not trust their employees
  • Believe that employees should be thankful to be working for them
  • Believe that employees are interchangeable and replaceable

Vendor Retention

Successful Companies:

  • Pay vendors promptly
  • Are tough but fair on deliverables
  • Strive to build long-term relationships

Failing Companies:

  • Always pay late and require constant reminding
  • Are tough on deliverables, and come up with reasons to dispute work
  • Only care about price and switch vendors whenever they get a lower quote

How would you rate your company?