Improve Customer Experience For Your Business
The importance of understanding your customer experience is a key to your success! It has never been greater in today’s competitive markets. Businesses working to improve the Customer Experience are growing fast, while their competition is being left behind.
Customers Have Very Specific Expectations When It Comes to Service
- Approximately 40% of customers have stopped using a product or service after having to repeat themselves over and over or after being transferred continually from one representative to another.
- Roughly 95% of respondents say that a knowledgeable and friendly Customer Service Representative ranks as a top-three factor for a Great Customer Experience.
- A whopping 96% of customers expect their issues to be resolved on the channel of their choice
Yet companies are struggling to meet customers with on-premise Contact Center technology – and customers simply won’t tolerate it!
- On average, customers have stopped using a product or service 4 times in the past year due to a bad Customer Experience
- Younger customers are even less tolerant of a bad experience! Consumers between the ages of 18-34 have stopped using a product or service over 5 times in the past year due to a bad Customer Experience – revealing that companies must meet higher standards for this age group
Businesses need to provide what the customers want – which is exceptional service – if they want to remain a major competitor in their market.
Delivering substandard service can have a negative effect on your staff
- Employees are not happy being slammed daily with irate and angry customers! Eventually, your high performers can be lured away by the competition who may be providing a better level of Customer Experience.
- According to an article in a Chron Newsletter “The Implication of Staff Demotivation on Customer Service”, unhappy employees can add even more to the sub-standard service being delivered! “Employees who are unhappy and have a lack of concern for the company tend to project those feelings onto a firm’s customers”. With that, an even lower level of Customer Service could be delivered by your representatives.
Unacceptable service, of course, wears away at profits – Customer churn is costly!
According to an article by “Outbound Engine” titled “Customer Acquisition and Retention Marketing Stats”:
- acquiring a new customer can cost five times more than retaining an existing customer.
- increasing customer retention by 5% can increase profits from 25-95%
- the success rate of selling to a customer you already have is 60-70%, while the success rate of selling to a new customer is 5-20%
In summary, the Customer Experience is critical to your business health, your brand, your profits, and the engagement and morale of your employees.
