There is a reason why you can find hundreds of resources, articles, and books, as well as dozens of seminars and workshops about customer service — it can make or break a company.
If you haven’t given the customer service arm of your business a close enough look, then it’s high time that you do so right now.
Importance of Customer Service
So why does customer service matter? The reasons are enumerated below:
1) Builds your company’s reputation
Your reputation goes a long way. With so much competition nowadays, consumers would, most often than not, base their decision to purchase, on a product review or what other consumers have to say about your service.
Even when your product is long gone, consumers will remember you for your interaction with them – your reputation lives on.
2) It is a reflection of your business
Consumers see your product the way you provide customer service. Your servicing is a reflection of your product. So if your customer servicing is mediocre, chances are, your customers also perceive your product the same way.
It is imperative as a business owner to also adopt the same mindset and to give effort and attention to how you service your customer. After all, customer service is king!
3) Customers want to feel valued
As is usual with human beings, we crave love and attention. Our emotions almost always dictate the decisions we make. Making your customers feel that they are valued and that you genuinely care for them can make all the difference to your business success.
4) Best marketing strategy – ever!
The world’s oldest and fail-proof marketing strategy is word of mouth. When your consumers speak favorably about your product, it’s result and effect is more than any best in class marketing strategy can ever bring. Customer testimonials and reviews carry a lot of weight.
So always put a premium on your customer servicing to keep those testimonials coming.
5) Competition is always around
A survey done by Zendesk in 2013 showed that more than 50% of consumers stopped buying after an unpleasant customer interaction. We are in a global marketplace, and if you do not employ the right tactics to wow your customer, there are always other options.
6) Directly affects customer retention
Research shows that acquiring a new customer costs (at the very least) 4 times as much as keeping an existing one. Retaining your existing customer base by keeping them satisfied and happy saves you from having to invest (money, time, effort) so much on attracting new clients.
7) Directly affects customer conversion rate
Drawing attention to your product is just a start. Converting them into a loyal customer is the ultimate goal.
On the same survey done by Zendesk in 2013, participants indicated customer service as the number one factor affecting vendor trust. It also goes on to say that 62% of B2B and 42% of B2C customers purchased more after an excellent customer service experience.
Providing excellent customer service is the key to conversion. As a company, this should be your mantra in your everyday operations.
To help you stay competitive in today’s global economy, look to Executive Boutique to provide your business process outsourcing (BPO) needs in the Philippines.
We provide customer retention services designed to help your business elevate performance, and improve efficiency at the best rates possible.
To find out more, contact us today!