How Good Customer Service Benefits Your Business
The world of customer service has moved beyond the “customer problem department,” to an evolved customer experience – providing quality care for increased satisfaction for both your customer base and your business.
Next generation technology is propelling customer service into a new realm where it can impact customer satisfaction, business insights, business revenue and ultimately produce happy customers. If you give your customers access to the information they need throughout their entire journey with your business, you will empower them to make decisions faster for increased satisfaction and a quality experience that will keep them coming back for more.
Word of Mouth
Acquiring new customers is a costly business. For all of your marketing and sales initiatives, the increased availability of price and service comparisons online empowers your customers to educate themselves before making a purchase decision. In fact, in B2B sales, 70% of the sales process is over before your customers ever make contact with you.
This means that your prospects are weighing the cost and benefit from what they can gather about you online. Whether it be from online forums, referrals from friends, social media, business reviews or other places, the increased availability of this information is inspiring prospects to do their own quality assurance with your business.
Your prospects better come across stories of increased satisfaction and reports of quality service. If your business has bad reviews online, or a dissatisfied customer warns your prospects to “stay away” from your business, your chance for gaining new customers drops dramatically. Happy customers breed more happy customers by opening their mouths and social media accounts to share the good news of their quality experience.
Here are some stats to help drive this point home:
- A dissatisfied customer will tell between 9-15 people about their experience – White House Office of Consumer Affairs
- Around 13% of dissatisfied customers tell more than 20 people. – White House Office of Consumer Affairs
- Negative interactions with a business are spread to twice as many people as quality ones. – The Grass Roots Group
- 67% of people spend money after getting recommendations from their friends on online communities like Facebook and Twitter.
Good customer service will also decrease purchase abandonment. Although consumers are becoming more and more accustomed to the idea of shopping online with your business, there is still a barrier of distrust with unknown businesses that you must overcome. Wariness of hidden costs, long shipping times, bad product descriptions, questionable product quality and tedious return policies plague online shoppers. If you aren’t able to ease these fears throughout every stage of their browsing and purchase journey, they will jump ship.
Also, competition among online business has increased. If you aren’t aiming for increased customer satisfaction by answering their questions in real-time, somebody else will. Select a self-service tool that is constantly available to your prospects, providing quality, contextual answers based on your customers’ specific needs and profile to dramatically cut abandonment and ultimately impact your business’ bottom line.
Keeping customers, cuts costs
Your business relies on happy, satisfied customers. Ensure that your customers benefit, to that both parties will benefit in the end. Everyone has heard the known statistic that it is 6 – 7 times more expensive to acquire new customers than to keep the ones you have. But quality customer service can actually directly impact your bottom line by assisting the conversion process. Self-service in particular, keeps your agents focused on high touch issues that can result in higher revenue.
For example, CabinetParts.com is the leading online business to provide cabinet hardware and accessories, offering over 40,000 different products to homeowners and contracters. Even with double digit growth yearly, they were able to see a 300% increase in conversions after providing self-service on their website. This conversion increase was also complemented by the 30% saving on valuable agent time by deflection.
All of these factors impacting the bottom line of your business are powered by customer service technology. Gone are the days of merely delighting your customers. The Era of the Customer begs solutions that don’t just make customers happy, but support them throughout the entire funnel and back again with instant answers and meaningful engagements.