If you have ever been through a breakup, then you may find yourself asking, is there anything you could have done to prevent it? In the world of business, it is important to understand that the answer is always a resounding yes. It may be that you are burying your head in the sand because you are trying to drown out the sound of your unhappy customers. On the flip side, it may be that you think you are providing your customers with support, but they don’t agree and seek out your competition. Either way, if you have a clear disconnect, then this is a major sign that things have to change. If you don’t make a change now, then you may find that you end up struggling more in the future and that your business ends up going under as a result.
You Don’t offer Customer Support
Did you know that if you can increase your customer retention by around 5%, you can boost your profit by up to 95%? This is a key fact that you have to remember when it comes to customer service. If you can, you have to try and turn your customer support into a fully-fledged marketing channel. If you delight your customers when they are in their time of need, then this will produce phenomenal results. The more work you can put into differentiating your brand now, the better you will perform in the future. If you can stand out because of the service you provide, then this will go a long way with your customers, and you may even find that you can increase your prices as a result. Studies have shown that customers will always pay more if it means getting a better service.
You Think Silence is a Good Thing
Do not let the silence fool you. If you don’t have a lot of customer complaints, then this doesn’t mean that you have a happy customer base. If one person complains, then there’s a high chance that you have 10-20 who don’t. Customer complaints really are the tip of the iceberg. If you want to do something about this, then make sure that you are as brave as you can be when it comes to soliciting feedback, as well as criticism. Don’t dread it when a customer complains, and instead, think of them giving you the valuable insight you need to push your company forward. You may think that the best way for you to get the result you need would be for you to send out a boring survey, but at the end of the day, people do not want to spend their time filling them out. If you can incentivize feedback then keep a lot of your questions nice and open-ended so that you can get a true picture of what is on your customer’s minds. Personally acknowledge the feedback you are getting and make sure that your customer’s voice is heard. If you can ensure that this is the case, then you will see a drastic improvement across your whole company.
Pushing a Specific Channel
You may think that you have a channel in which you can provide your customers with support, and this is great. That being said, you have to remember that giving your customers a choice can be very powerful. There isn’t a single channel that is going to work for everyone. Sure, live chat is the most popular and if you have this implemented on your site then this is great. That being said, some people will want to speak to you over the phone because it is just their preferred method of communication. If you do not have live chat on your site right now, then it is a good idea to look up “add a chat feature to my website“ so you can make sure that you are always meeting your customer’s needs. On top of this, make sure that you also invest in a business phone number and that you also take the time to set up an email account. If you can do this, you will find that everything ends up working in your favor and that you can get more sales as a result.
All of your Eggs are in one Basket
Did you know that around 80% of your company’s revenue is going to come from 20% of your existing customer base? At the end of the day, customer acquisition is crucial, but if you overlook customer service, then you will be neglecting your biggest profit margin: your loyal customers. Loyal customers are worth ten times as much as the first purchase they made with you, and they will also vouch for your company to their friends and family.
When you look at data such as this, you will soon see why it is easier for you to acquire a new customer than it is to keep your current ones. If you aren’t putting your focus on your loyal customers, you are not alone—studies have shown that only 16% of companies make customer retention a main focus. For a start-up, initial business objectives are naturally centered around acquiring new customers. However, as you begin to grow, it becomes imperative to shift your focus to both loyalty and retention.
One key strategy for achieving this shift is to leverage customer feedback and analytics to gain insights into customer engagement. By understanding how your customers interact with your brand, you can tailor your services and support to better meet their needs. This not only boosts retention but also helps identify areas where improvements can be made, ensuring that each customer experience is positive.
Unfortunately, around 86% of customers will stop doing business with you if they have had a single bad experience. This statistic underscores the importance of not only acquiring new customers but also nurturing the ones you already have. Small mistakes in customer service can have significant consequences, leading to the loss of loyalty that could cost your company dearly.
By investing in customer service and continually improving your engagement strategies, you can ultimately save money on acquisition costs in the long run. When your customers feel valued and heard, they’re more likely to remain loyal and even become advocates for your brand. Remember, your most profitable customers are the ones who stick with you through thick and thin—ensuring they have a great experience is not just good ethics, but good business strategy.
You Think you have a Great Product
You may think you have a great product, and although there is nothing wrong with this, you have to remember that it is not going to get you very far if you are not making up for your blunders. Modern customers want a smooth and efficient buying process, and it is your job to make sure that their experience comes first. More and more customers are now shopping for an experience over trying to get a cheap price. Sophisticated customers tend to seek comprehensive solutions, and if you make it a hassle to get in touch with customer service, then you can almost guarantee they won’t come back. Even if your product is the best it can be, you will be losing out if you have a subpar support system. If you want to do something about this, then you have to look at what your customer pain points are, and you need to deal with them appropriately.
You’re Not Following Through
Leading brands know that a happy customer is the key to company growth. New customers are important, but it is the repeat revenue that comes from the loyal customers you have that will help you to grow your bottom line while giving your business a strong level of predictability. Research has shown that engaged customers are up to five times more likely to buy from the same brand in the future if they can provide a good service. A loyalty program is very good to implement here, as it means you can get in touch with your customer after their purchase while also encouraging them to come back to you time and time again. If you neglect your customers or if you do not get in touch with them when they have completed their purchase, then this is one of the biggest mistakes you could make.
You Think your Customers Will Forgive You
By nature, you have to remember that customers are not forgiving. They are also not naturally loyal, you have to put in the work to make them this way. If you have made a mistake, and everyone does it from time to time, you have to take the time to apologize. This is one of the best and most effective ways for you to safeguard your relationship. Say that you are sorry, and make sure that you offer compensation to those who you may have wronged. If you can take the time to swallow your ego rather than make excuses, then this will benefit your company way more than you realize.
Support Doesn’t Come after the Close
Did you know that up to 83% of customers need some kind of customer support before they make an online purchase? If you can, you have to take the time to empower your customers so that they can find the information they need. It may be that you give them a portal to access frequently asked questions or offer a ticket system. Additionally, utilizing tools to analyze customer interactions can help you better understand their needs and preferences, allowing you to refine your support channels and improve satisfaction. Remember, customers are always happy to pay extra if it means getting the service they need from you, so investing in these tools and your service channels is a smart way to enhance their experience.
Those are just a few tips to try to turn around a sucky customer service experience. Did you forget anything? Let us know in the comment section below.
[…] Source link […]
[…] Source link […]
[…] Source link […]