If your business is just starting out, it’s understandable that your budget may not have a lot of wiggle room. You want to devote your funds to areas high on the priority list and let others rest on the back burner until a later date.
In situations like this, it can be tempting to cut corners on customer service. However, the importance of good customer service teams has been underestimated in recent years. For many businesses, this has been a huge mistake.
Customer service teams are probably the most crucial asset a business can have. While the initial investment may be costly, exceptional service and happy customers will eventually recoup all of these expenses and then some.
While social media and internet presence play a major role in attracting customers to your company, the most important determining factor of your brand image is your customer service team.
As the vital connection between your company and your customers, their duty is to project the values and image of your company that may otherwise not be perceived on your web site or social media page.
Technology and automation are wonderful tools for efficient customer service. However, you also want to make sure you have a human service team available for more complex situations as well. When your employees listen to customers and show empathy for their situation, this is a big win for your business and gives you an edge over the competition.
Less Employee Turnover
No one enjoys coming to work when they don’t feel valued or appreciated. Take great care of your employees, and they will, in turn, take great care of your customers. It goes without saying, employees who are content with their jobs work exceptionally hard to give your customers a good experience.
While just over half of all dissatisfied employees will still do their part to satisfy customers, the motivation just isn’t the same as it is for satisfied employees. Dissatisfied employees no longer buy into your company’s products or services. At this point, they only care about retaining their professionalism and keeping their job—they would rather quit than be fired. Once they find a company that values its employees like assets, you can bet they will leave your company in droves.
Make sure that your employees feel appreciated and respected. This will then transfer to your customers. Give them good incentives to go above and beyond their duty in creating exceptional customer experiences.
As little as 5 percent growth in customer retention can generate a revenue increase of 25 percent at a minimum. The reason is that returning customers are more apt to spend more money with your company. In fact, research indicates there is a 60 to 70 percent chance that existing customers will keep coming back for more purchases from your company.
On the other hand, it’s 6 or 7 times more expensive to acquire a new customer than to keep a current one. Essentially, investing in customer service can significantly reduce the likelihood of customers leaving your company. This drastically cuts the expense involved with gaining new customers.
Word of Mouth
With the invention of social media, customer word of mouth can spread like wildfire. Take advantage of this by striving to give your customers a happy shopping experience. Happy customers are 77 percent likely to share their positive experience at your business with everyone around them.
It’s much like a positive “snowball” reaction. You not only get happy customers who will keep returning to your company, but they will also refer their family, friends, and colleagues to purchase at your business as well. Also, as mentioned earlier, if your employees are happy and well-trained, they will create more happy customers and start that snowball rolling. Everyone wins!
Competition is higher than ever in today’s world. As a business, you cannot afford to make one wrong move, especially when it affects your customers and brand image.
Making the right investments to keep your customers happy will more than pay off. Communicate better with your customers using LiveSupport’s live chat and text support software!