30 November 2009

Importance of customer service: seeing the light

customer service leading light Customers love their freedom but definitely need guidance and help, thereby making customer relationship management a complex endeavour. If rightly done though, the customer will be guided to the right place and do the right thing: buying multiple products and services


The importance of customer service cannot be overstated. In today's competitive marketplace, businesses that provide excellent customer service are more likely to succeed than those that do not.

There are many reasons why customer service is so important. First, it can help to build customer loyalty. When customers have a positive experience with a company's customer service, they are more likely to do business with that company again in the future.

Second, customer service can help to increase sales. When customers are happy with the way they are treated, they are more likely to spend more money with a company.

Third, customer service can help to improve a company's reputation. When customers have a positive experience with a company's customer service, they are more likely to recommend that company to their friends and family.

Fourth, customer service can help to reduce costs. When customers have a positive experience with a company's customer service, they are less likely to complain or file a lawsuit. This can save companies a significant amount of money.

Fifth, customer service can help to improve employee morale. When employees are happy with the way they are treated, they are more likely to be productive and engaged in their work. This can lead to a more positive work environment and improved customer service.

There are many ways to improve customer service. Some of the most important things that companies can do include:

  • Hiring friendly and knowledgeable employees who are willing to go the extra mile for customers.
  • Providing customers with multiple channels for getting in touch with customer service, such as phone, email, and social media.
  • Making it easy for customers to find the information they need.
  • Responding to customer inquiries promptly and courteously.
  • Taking steps to resolve customer complaints quickly and fairly.
  • Continuously monitoring and improving customer service.

By following these tips, companies can improve their customer service and reap the many benefits that come with it.

In addition to the above, here are some specific examples of how customer service can help businesses:

  • A study by American Express found that 80% of customers are willing to spend more money with a company that provides excellent customer service.
  • A study by Bain & Company found that a 5% improvement in customer retention can lead to a 25% increase in profits.
  • A study by the National Retail Federation found that 70% of customers will stop doing business with a company after just one bad experience with customer service.

These studies clearly show that customer service is essential for businesses of all sizes. By providing excellent customer service, businesses can attract new customers, retain existing customers, and increase profits.

23 November 2009

Not prepared to pay for good customer service

Customer service finance

Customer service and your finances

Customers definitely want companies to understand the importance of good customer service in finance sector and to employ people who have the right skills to deliver. But, with the consequences of the credit crunch still being felt, many customers are down to their last pennies and simply not prepared to pay extra for service. If finance companies want to offer high quality service to some clients (and charge for it) whilst keeping a keenly priced mainstream offering, they should adjust their brand proposition by either offering distinct products and services, potentially under two brands or, more dramatically, by focusing on only one segment of the market.
Picture courtesy of http://moregeous.wordpress.com/ with our thanks

22 November 2009

Good customer service: oiling the wheels

customer service wheel

The customer service wheel

Delivering good customer service is simply making it easier for clients to achieve what they want, it being buying a product or service, reaching a destination, or simply protecting their well being. Engineers have managed it successfully for centuries. The rule is simple: if you do not oil the wheels, they start squeaking.
Picture courtesy of http://www.elmurphy.co.uk/ with our thanks

18 November 2009

Customer service: not taking any chances

Customer service risk

Customer service risk

Should companies take risks when managing customers relationships? There are well documented cases where economic imperatives have forced companies to take short cuts and potentially sacrifice their long term future. Most customers will let it happen once but like falling off a bridge, it is not something that they will want to experience again.
Picture courtesy of http://www.peterstephens.co.uk with our thanks

15 November 2009

Monitoring customers' purchasing habits

customer service monitoring

Customer service monitoring

The increased availability of tools to support customer loyalty initiatives can be intrusive and creates threats to privacy in the eyes of customers. They could also be accused to contribute to the creation of a boredom factor. As customers are always presented with their favourite products, shopping for everyday items, tends to become a utility service. How could this mountain of data be used with more imagination to deliver better customer service?

Picture courtesy of http://sophieeggleton.withtank.com/ with our thanks