In the midst of running a business and managing employees, it’s also important to focus on your customers. When there are a million tasks to keep your business running, customer service often ends up on the backburner. Taking just an okay approach to customer service is not enough. Putting everything ahead of customer service can cause your business to fail.
Most businesses ignore the value of providing quality customer service. It’s important, however, that your customer service is initiated across all departments of your business. Here are several ways customer service is imperative for all operations of your business, as explained by Pierre Courchesne.
Customers Appreciate Excellent Service
Customers have a need for excellent service. As a business owner, you have to consider several factors to attract new customers. Some of these factors range from location to pricing. One of the biggest components of your marketing efforts is your customer service. It’s often even more important than the prices you set.
According to a 2014 survey by American Express, customers are more willing to spend 14% more for excellent customer service. This provides you with more control over your business than what is available through tweaking other areas. You can only lower your prices so much and without jeopardizing your profits. In addition, you may have a limit on your advertising budget and location options. However, you can always work on improving your customer service.
Cheaper to Retain Existing Customers
This is the most important customer service statistic out there. It’s eight times more expensive to attract new customers than to keep existing ones. That’s why it’s so important to work on your customer service efforts. Since customer acquisition is so expensive, your marketing team must spend thousands of dollars to attract potential customers and convert them to sales.
Why is customer retention so cost-effective? You can take advantage of the resources you already have and use them to improve customer satisfaction. Some of these strategies include blogging, customer surveys, special promotions and discounts, and personalized buying experiences.
Decreases Customer Churn
According to an Accenture global survey, higher prices are not the reason why customers choose another business. It’s a result of poor customer service. Customer satisfaction is a metric that you can use to decrease or prevent customer churn. By measuring and tracking the customer experience you can implement new processes that help increase your customer service. You should work on meeting customer demands and impressing them at every opportunity.
Helps Build Brand Awareness
If you don’t know what brand awareness is, then it’s time to learn about it. Word of mouth is the most effective form of advertising. What your customers tell others can impact your business. If you provide exceptional customer service, then your customers will tell others about it.
Your brand will remain on their minds. If someone they know is looking for a specific company, then they’re more likely to suggest yours.
Customers Remember Bad Service
Customers are more forgiving when it comes to issues with products and services, as long as you work to improve them. Bad customer service will remain on their minds. It heightens the situation. It proves to unhappy customer that not only did you make that mistake, but you didn’t work on correcting it.
Customers are getting smarter these days. They know when they’re not satisfied with a product or service and they will hold onto that feeling for a long time. According to an American Express survey, unhappy customers are three times more likely to share their negative experience.
Increases Customer Lifetime Value
Happy customers are 2.6 times more likely to contribute to your company’s revenue than your unhappy customers. Customer satisfaction plays an important role in how much a customer helps your business. Successful businesses should understand the importance of customer lifetime value (CLV). When your CLV increases, your return on investment (ROI) increases as well.
CLV is a result of high customer satisfaction and retention. You want to exceed customer’s expectations so they’re likely to return and spend on your products and services.
Nothing else matters unless you can offer positive customer service. Keep these factors in mind so you understand how important customer service is for your business. You’ll receive positive results if you offer excellent customer service.
Dr. Pierre Courchesne understands the value of customer service. As one of the leaders in cosmetic surgery, he has introduced innovative techniques to the field. He has also come to learn and understand his clients by practicing customer service techniques. He’s been able to deliver exceptional care along with incredible results.
