Customer satisfaction is the lifeblood of any business. However, it is not always easy to keep customers happy. There are many different aspects of customer service that need to be addressed in order to provide a high level of satisfaction.
Improved customer satisfaction leads to increased revenue: Studies have shown that, for fortune 500 companies, a one-point increase in “customer experience” results in an average annualized growth rate (AARG) of $100 million, which you can also think about as a 20% increase in EBITDA or net income over three years.
Increased customer satisfaction can be achieved by giving customers what they want when they want it and in the way that suits them best, which is called “customer-centric” service: This includes things like delivering products on time and providing good technical support without going through hoops to get help.
High customer satisfaction is correlated with low employee turnover: Studies have shown that increased levels of customer service result in lower rates of employee turnover. For example, a study done by the U.S. Department of Health and Human Services found that hospitals with high customer satisfaction rates had fewer nursing vacancies than those with lower ratings.
The implication is clear: to create sustainable business success in this competitive market place, it's important for your company not only be cognizant of how happy customers are but also work on improving employee morale so they can deliver better service as well!
Let's take a look at how you can improve your customer experience and increase your revenue by following these simple guidelines:
Many customers may feel hesitant about reaching out to your team with a problem. Maybe they don't have time, they feel like their question is dumb or some other reason that may prevent them from reaching out. When this happens, you miss out on an opportunity to improve their experience.
Having an open door policy will show customers that you are accessible and available to answer their questions. This is a great way of building customer loyalty. It will also allow for any concerns or issues to be addressed quickly without the customer feeling like they are bothering you with unreasonable requests.
Make sure this policy is well understood by your customers. You can show customers you are there for them by making it very easy to reach out to your support team, offering live chat, and being proactive by emailing them asking if there is anything you can do to help. The more you show you customers you are there for them, the more confident they will feel that they are doing business with the right company.
Offering the best customer service in your industry is also extremely important and can make a big difference when it comes to customer retention. If you want to build a loyal customer base, then providing them with excellent service will go a long way towards doing so. One of the easiest ways to do this is by making sure that everyone who works for your company knows what they are doing and is always polite, understanding, helpful, and knowledgeable. Respond to customer inquiries quickly and efficiently, providing helpful links and suggestions in your first response to reduce back and forth.
Live chat can be a great way to boost customer satisfaction and stay ahead of problems. When you have customer support reps on-site, ready to answer questions, customers are much less likely to get frustrated or confused and can be assisted through the buying process by your team.
Always following up with customers after a purchase will show them that you care about their experience with your business. It shows that you have paid attention to who they are as a person and not just another customer number or statistic in the books of your company. Once a customer hands you their money, your job isn't over. Now is the time to nurture the relationship and ensure they are customers for life.
When you take care of your existing customers, the results of your efforts are exponential. Why? Because people talk to one another. Word of mouth marketing (referrals) is the best kind of endorsement a business can receive. Word of mouth marketing is free marketing that converts very high since the messaging is coming from a trusted source.
This may seem obvious but you need to provide customers with what they want when they buy from you. If an item is advertised as in stock but then it isn't available to ship right away and your customer wants it shipped quickly, make sure that the order ships immediately even if another shipment will be coming later on. Doing this will reassure them that their needs are being met and that they are a priority. Having the property inventory (for a retail business) can be make or break for the future of the company. This is especially true in a world where most items are delivered to consumers in 2 days or less.
Deliver on time or earlier than promised to every customer, and never late. This will ensure the overall satisfaction of your customers because you have kept your word even when it is inconvenient for you. Customers need to know they can depend on you to live up to your promises. At the root of it, each interaction they have with your business adds up to an overall trust of you and your company. If a customers has a great experience, their trust level increases. Otherwise, they will trust you less.
Make sure to follow these guidelines and always put your customers' best interests in mind to ensure they have an optimal experience. When your customers are happy, they will keep coming back to you.