The value of customer satisfaction
According to Bain & Company, it costs 6 to 7 times more to find a new customer than to keep an existing one. Holding on to old customers and building customer loyalty gives you the chance to improve the bottom line drastically compared to a mindset that focuses exclusively on finding new customers.
Satisfied customers can also be fantastic brand advertisers. In the age of digital media, both complaints and compliments can go viral. A customer who takes to Twitter to speak about a poor customer experience can influence untold numbers of people who are debating whether or not to use your company. Fortunately, the same can be said for those who leave positive reviews.
Individuals who feel satisfied with the customer experience are more likely to tell friends, family, and associates about their positive experience. Since people take reviews from those they trust far more seriously than advertising, the value of customer satisfaction cannot be underestimated.
Keeping your customers happy
Customer service entails more than just what happens when a buyer makes a purchase. It encompasses their entire experience and interaction with your company. With that in mind, here are some pointers to consider:
- Keep your employees happy. They're the face of your company. When they're happy, they'll make your customers happy, too.
- Undersell and over deliver. For example, if you tell a customer you'll call them back by the end of the business day with a suggestion, try to call them back before lunch with two suggestions. Instill this same attitude in your team.
- Work to ensure customers experience helpfulness at every stage. Make sure your website is helpful and easy to use. Train customer service reps to focus on solving problems, rather than just selling. And don't forget about customers after the sale. Instead, focus on helping them get the most from your product or service.