In today’s cutthroat competitive world of business, entrepreneurs who can adapt can survive and thrive on having endless achievements. Those people who fail to see the forest through the trees undergo an inevitable death.
The struggle nowadays pits profits against the compulsion for customer satisfaction. Indeed? Not everybody, believes “the customer is always right” and as fretful with customer satisfaction like others are. However, it is those who do not cave and relent into the chase of profits, eventually, win in this harsh business climate.
Anyone serious to make it, it is imperative to understand the utter importance of reliable customer service. It isn’t all about the customer is always right; it is about treating them like your family. That does not happen by communicating them or seeking for all possible ways to grab money out of their pockets, but by truly going beyond and adding significant value to the equation.
If you are giving real value to customers, you are ensuring your own success instead of sealing your fortune in a coffin of corporate advancement and greed at all costs. To transform the good to great, you must deliver value to your customers. That is what makes icons like Zappos, Apple, Amazon, and many other corporate bellwethers. And it all started when these icons harbored the foundation that customer is above all else. See, Amazon ate up Zappos, but what interests Amazon into Zappos, was their emulation of similar beliefs which Amazon lived by.
To create a monumental business, or to expand an existing footprint, it is necessary to understand the importance of customer service. With so many choices consumers have, you have to set your business apart from the rest. There are lots of horror stories about poor customer services. However, we seldom hear the stories of raving-fan. Why? Because negative news travels at the speed of light. 20 years of reputation can be ruined in just 20 minutes.
Why is customer service so important?
As a business person who is serious about creating considerable headway, you must understand the importance of customer service. It isn’t only about those obvious economic reasons. Beyond this, the way you treat your customers reflects the way you see things in your life. Are you short-sighted, just hunting the next payday, or does your vision give you a deeper understanding of long term implications of your actions? If you want to make strides now, you actually need to keep your customers on a pedestal.
8 reasons why A Great Customer Service is Important when running your own business;
- Cost Of Customer Retention Is Less Than Customer Acquisition
The cost of attracting new customers is 5 times more than the cost to retain an existing one. So why take the risk to lose a customer? Every venture must do anything to keep its customers happy and keep doing business with them.
- Existing Customer Is More Likely to Buy From You Than Newer Customers
Selling to a new person is far less likely. Mostly, the probability of selling to a new customer is 5 to 20 %, while selling to an existing client is 60 to 70 %
- Excellent Customer Service Reduces Overall Problems
With great customer service, you can minimize issues linked with sales, business, and other legal matters. Treating them poorly, you will run into issues that often lead to the impending or untimely demise of your venture.
- Rock-Solid Customer Service Strengthens Your Brand And Public Persona
If you are serious in your brand’s reputation or public perception, you must ensure high-end customer service. You will not only get positive reviews, but it will also strengthen your image.
- You Can Retain Your Customers For Long And Get Word-Of-Mouth That Money Can’t Buy
Your customers will stick around your business even for ancillary services. Customer intimacy is a consumer willingness to go with a company that they have had a great experience. Second these customers give you word-of-mouth that you cannot buy with money. No one buys a thing after seeing an advertisement until any friend, peer, colleague or shop owner next door advises them to buy that product.
- It Helps You Improve Employee Retention
When an employee sees an employer treating their consumers as gold, they feel endowment, they feel pride in becoming the part of that team and make them t stick around for a longer period.
- Excellent Customer Service Gives You Pathways To New Partnerships And Opportunities
Treating customers like gold, opens pathways to new opportunities and partnerships, mainly when other businesses see the way you treat your customers and what you value to your customers. This reflects a sense of loyalty, belief, and values and attracts them to work with you.
Excellent customer service is something that you hardly find in businesses these days. However, it most surely paves the way for stronger relationships, partnerships, employee and customer retention, great persona and reliable brand, compliances, and many other opportunities.