In today's competitive environment consumers increasingly value their experience with the product.
According to the The Future of Customer Experience Survey by PwC providing customers with a good experience improves loyalty and increases spending. [1]
But what makes for a good experience?
To start with, the basic ingredient for pleasant customer experience is good customer service. With customer service, I don't mean the classic "customer is always right" idea but, rather treating your customers as friends, listening to them, accepting their critiques and collaborating with them.
Customers are the reason why your business exists and treating them only as a source of revenue will have negative implications.
For this reason, you need to reimagine your approach to customer service and make sure you communicate the importance of it at every level of your organisation.
Here are some of the reasons why every business should put "great customer service" on their priorities list:
1. Customer service builds your brand image
Your customer service is a reflection of your business. The way you treat people tells a lot about how you do business.
2. Word of mouth is the best advertising
Satisfied and loyal customers are more likely to refer your product to colleagues, friends and relatives. According to a study by Nielsen [2] 92% of consumers trust suggestions from friends and family more than any other advertising.
3. Customer satisfaction drives loyalty
A satisfied customer is more likely to remain loyal to the brand and less motivated to shop for other products.
4. It creates an emotional connection
According to research by Otah [3] exceeding customer need and building trust generates brand affection.
5. Customers are humans
Customers are humans and as such they have feelings. Making your customers happy will benefit your relationship with them.
6. Existing customers are more likely to buy
As stated by Bain & Company [4], existing customers are more likely to pay a premium to continue to do business with you rather than switch to a competitor.
7. Customer retention is cheaper than customer acquisition
Good customer service can increase loyalty and therefore retention. According to Bain & Company [5], in financial services, for example, a 5% increase in customer retention produces more than a 25% increase in profit.
8. Businesses are remembered for poor customer service
Customers are more likely to remember a negative customer service experience than a good one, and they are also more likely to share those. Therefore, you need to get it right!
Claimable is a customer-first platform. We are committed to enhancing your customers' claims experience and providing you with the tools to deliver a great customer service, such as our claim-focused CRM capabilities. To learn more about it, read our blog post, Introducing our New CRM Features.
https://www.pwc.com/us/en/advisory-services/publications/consumer-intelligence-series/future-of-customer-experience.html âŠī¸
http://www.nielsen.com/eu/en/press-room/2015/recommendations-from-friends-remain-most-credible-form-of-advertising.html âŠī¸
https://www.oath.com/insights/outperform-and-outdeliver-building-brand-love-with-mobile/ âŠī¸
http://www.bain.com/Images/BB_Prescription_cutting_costs.pdf âŠī¸
http://www.bain.com/Images/BB_Prescription_cutting_costs.pdf âŠī¸