In today's world, every consumer expects an above-average customer experience, and customer service is at the heart of it.
When you make your customers' needs a priority, their experience throughout the buyer's journey will continuously improve. For long term success in your industry, you must understand why customer service is so important.
Customer service is not important solely for financial reasons. Along with helping grow you business, customer service shows your customers who you are and why you do things the way you do.
Today's consumer no longer has to stay with company that doesn't provide good service due to the large number of online options. So, you must earn your customer's loyalty with every interaction, always keeping the importance of customer service top of mind.
Here are five reasons why customer service is so important:
1. You'll Get More Referrals
If your customers are happy, they will spread the word to their family, friends, and coworkers. 77% of customers have shared their positive brand experiences with others. Think about the last time you had a positive experience with a brand: Did you tell your family or friends about it?
It's a natural thing that we do because we want the people close to us to commit to a brand that we trust. And this all leads to the best kind of advertising that money can't buy, word-of-mouth advertising. It's priceless!
People are more likely to listen to the advice of a friend rather than an online review. Keep in mind, your customers have the potential to be the biggest supporters of your brand, as long as you give them a reason to be.
2. You'll Save Money
Did you know that is costs 5X as much to attract a new customer than to keep an existing one? This makes it clear that customer retention is more cost efficient than customer acquisition.
In fact, if you increase your retention rates by 5%, it will increase your profits by at least 25%. This is because when you have repeat customers, they're likely to spend more with your brand.
Building those loyal relationships with your current customers or patients is crucial for the success of your business.
3. You'll Improve Your Brand Image
As a business owner, you naturally already have an idea of what you want your brand to represent -however, there could be a disconnect between what you want your brand to represent and how your customers view it.
They are judging or making assumptions about your brand based on your social media, advertisements and any other content you put out there.
Your customer service team, however, is your connection to your customers and without them, you would have no way of direct communication.
Because of this, your customer service team plays an essential role in relaying your brand image. They're the front line of support for your customers and if the job is done well, your customers will see that you truly value them and not much can beat that.
4. Price Will Become Less of a Factor
In fact, 86% of consumers will pay up to 25% more for a better customer service experience. So, this means customer service matters so much to some that they will literally pay more just to interact with a business that does it well.
You can't ignore the facts. Customer service is becoming a priority for many companies, and any company that decides it isn't, won't survive. A single experience can be the deciding factor for a customer and if it's a negative one you could be sending them into the arms of your competitor. Give them a positive experience and you could have a loyal customer for life.
5. Your Business Will Succeed!
Customer service represents who you are and why you do things the way you do. Only 4 out of every 100 businesses lasts through the 10-year mark, that’s a 96% failure rate! If you’re serious about your business, you'll have to focus on what matters most, your customers. Without them, you have no business at all.
It’s undeniable how important customer service is for the future success of any business. Make sure your customers are having that direct communication with your business. Give your customers the service they deserve, and they will be loyal to you.
Ready to give your customers a good customer service experience?
- Keep in mind these top 5 reasons why customer service is so important.
- Use this guide below to improve the customer service that your caller receive from customer service representatives, receptionists, or anyone who handles your business calls!