It’s no secret that providing outstanding customer service can help grow your business and increase sales. Remember the old maxim about the customer always being right? Originally coined more than a century ago, this phrase has been popularized and – at times – misinterpreted over the years.As successful entrepreneurs well know, it is exponentially more difficult to attain a new customer than it is to cross sell or upsell an existing one.
Businesses that have the right tools to improve customer service and deliver those extra touches that keep clients happy and coming back for more are those that excel in the long-term. In this fiercely competitive global marketplace, people have tons of options and platformsfor purchasing products and services, and businesses must give customers good reason to remain loyal.
Great customer experience = repeat sales
Is your start-up providing friendly, professional and efficient service before, during and after each transaction? Are you offering high quality, personalized support that fosters customer satisfaction and loyalty to your brand? Enhancing customer experience is one of the most important things you can do when it comes to building your business.
According to research by the National Federation of Independent Business, customer service – more than product and pricing – is the biggest determiner inlasting success. A whopping 80 percent of people are more likely to give repeat business after receiving superior customer service.
But what happens when customer complaints go unheeded or conflicts are handled without tact or respect? The ramifications of poor customer service should not be overlooked.Although many unhappy customers will never voice their complaints, they will spread the news about their negative experience,telling friends, family and co-workers about the horrendous service they received.
Avoid the consequences of poor service
Customers often vent their frustrations on social media, which can rapidly chip away at a once stellar online reputation.So how do you remedy a disgruntled customer? According to one Harvard University study, time is of the essence when it comes to resolving conflicts or disputes. Researchers found that 8 out of 10 unhappy customers would provide repeat business if customer representatives act swiftly to resolve the issue at hand.
Consider these statistics on how customer service impacts business growth and your bottom line:
- Businesses who engage customers on social media reap bigger sales (up to 40 percent more)
- Customers say that 70 percent of their overall buying experience is based on how well they are treated
- On average, loyal customers are worth 10 times their first purchase
- Increasing customer retention by just 5 percent can boost profits more than 100 percent
- 91 percent of customers will not return after a single negative interaction
- 81 percent of customer will stay with a company after receiving quality service
- 88 percent of customers will stop doing business with companies that don’t answer complaints
- Current customers spend nearly 68 percent more than newly acquired ones
Engender customer loyalty and boost sales
Upselling additional product to existing customers is a great strategy for success. But how do businesses ensure their current customers are getting quality, professional attention and support?
According to outsourcing specialists at EB Call Center, there is no single strategy for engendering customer loyalty.Businesses that take a proactive approach to providing an exceptional customer experience — whether it’s communicating via multiple channels, giving rebates or sending a personal thank you note — are forging an important relationship that builds trust. People want to feel valued and engaged. They want to be treated with courtesy and respect.
The real cornerstone to long-standing success lies in ensuring a positive customer experience, one that promotes repeat business, and turns prospects into future sales.