March 27, 2018 Customer Retention is Key

Customer service is paramount within business today, and when implemented correctly, can significantly boost your business.

How Customer Service Can Impact Your Business

Customer service is paramount within business, and today, it’s more important than ever to offer the outstanding level of service every customer deserves. With the availability of customer service being crucial across all platforms it is now paramount that it is implemented effectively in order to increase customer retention rates and customer loyalty. With courses available to you it could not be any easier to be on your way to understanding customer service, and how to implement it effectively in order for your business to thrive. The more positive the customer service experience, the more positive the interaction between your customers and the business, and so it is vital that the customer always comes first, regardless. Here, we are going to look at how the implementation of successful customer service can have a profound impact on the relationship between your business and its customers.

Customer Retention Is Key

Customer retention rate is one of the biggest factors that companies look at, no matter the industry they are in. The better the customer service provided by your business, quite simply, the longer your customers are likely to stay with you. Alongside customer retention rate, many businesses will look at obtaining new customers, however it can be up to seven times more expensive to target new customers than it can be to retain old ones. It is said that 90% of people who have a negative experience will not complain, but if a rare complaint is met with bad customer service, the person that was met with this outcome is likely to tell up to 15 other people about the negative experience they have had with that company. As you can see, it is crucial for your business to offer a positive outlook, even in the toughest of customer scenarios.

Reputation Online & Offline

With the ever-growing world of technology and social media, it is important that your customer service outreach extends to not only the people who phone up with a complaint but also to complaints and comments made online. Your online reputation is exceptionally important, and with the reach of various social networks, pruning this to show a positive outlook at all times is imperative when it comes to business success. A negative or stigmatised post on a social media site can be devastating to a company, as we saw when the pizza brand Dominos saw a video of employees defacing food they were serving go viral. It is important to have an online sector handle all complaints in the most effective manner possible, in order to not only tackle unhappy customers at the earliest stage, but to also liaise with other customers in a friendly way, online.

Loss Of Profits Should Never Be An Option

Customer service is important when looking at profits as it can have a profound effect on the sales a company is obtaining. Poor customer service can result in reduced customer loyalty, which can have a major impact on return business. This can then ultimately lead to a decrease in footfall and consequently the number of sales being made at different points in the day. If footfall is significantly decreased, this could affect the company massively with the sales that they make per day. Due to this, it is paramount to have excellent standards of customer service in place to ensure the reputation of the company and ensure the overall revenue of the company continues to grow.

Word Of Mouth Sales

Sales through word of mouth are just as important as sales made online as they cover a large percentage of the profit that a business makes. Outstanding customer service within a business can dramatically increase the way that the customer interacts with your business. When customers have a good experience with a business they are likely to introduce that business to a friend, this then leads to an increase in footfall, which, in turn, boosts sales. It is then within the best interest of the business to maximise the quality of the customer service in order to expand the amount of customers coming into the business and increasing overall sales. When the sales increase, so does the quality of the business, with this then translating back into the overall satisfaction and happiness of the customer.

As you can see, customer service can have a severe impact on your business if it is not carried out with care and forward-thinking. Implementing training courses, accommodating each individual consumers needs and having a positive outlook in even the worst customer scenarios is a great way to ensure business success over the long-term.

Damien Herbert Troy
Damien Troy is an experienced and notable author, who loves taking on new challenges and writing across a huge range of topics -channelling his personal experience and expertise. When Troy isn’t tapping away at his keyboard, creating his latest masterpiece, he can be found exploring new countries and cultures or burying his head in a good book.

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