Almost everyone aspires to be an entrepreneur these days, and why shouldn’t we? With the extraordinary advancement in technology, the prospects are higher than ever. However, do we know how to succeed in this world of technological advancements or are we still trying to make things work using the ways of yesteryears?
You wouldn’t go into a battle without any weapons and a well-thought strategy, would you? If you did, it would rather be a suicide than a battle. Business is like a battle too, step into it half prepared without the proper tools and strategies and you’ll be slaughtered in no time.
Many aspects contribute to the success of a business and customer support service is one of the most important ones. Nobody wants to feel like another ticket but that is exactly what most of the customer service departments around the country make you feel. Having the ability to make or break the company, it is important to pay proper attention to the department and try to incorporate customer service across all the departments. Let’s look at a few reasons why good customer service is so important.
Every business in the world is running for profitability and rightly so. If you’re making all the effort and spending so much time, resources and energy then you ought to benefit from it as well. All business decisions revolve around profitability and so does the decision to distribute financial resources among departments. Hence, the first reason pointing towards the importance of customer service. Great customer service directly correlates to higher revenue. Businesses that try to improve their customer service policy can see an increase in their revenues.
Most start-up owners fall for the misconception that you need to spend ridiculous amounts of money on marketing and advertising campaigns and in doing so they are left with little to no resources to spend on the customer support department. It is important to understand that every aspect of the business requires equal attention and so does customer support. You may attract a million customers with a fancy campaign but they would only stick around if they receive a great experience.
Who can’t testify that a good reputation is a key to success in any field of work? A business with a good reputation will achieve higher growth and revenue as a result. If your customers are happy they will spread the word about your excellent customer service and recommend your company to almost everyone they know. And trust me recommendations work like magic. There are so many options in the market right now, that a consumer would rather sign up with a company their friend speaks highly of, instead of a company they just found over the internet.
This is especially true about the cable TV, internet and home phone industry. Don’t believe what I say, just pick up your phone and call up the Spectrum phone number to see why they rank as the second most popular cable provider in the United States. Their representatives are polite, patient and know their products inside out. No matter what time you call their customer support you will receive the best possible solution to your problem.
Thus, it can be safely assumed that a well-trained and knowledgeable customer support team is crucial to your business’s reputation. They are the face of your organization and when it comes to services or even products, no one is going to believe that anything good can come from an organization whose employees don’t value their customers.
To be truly successful you need to acquire new customers but more importantly, you need to retain the existing customers. Retaining existing customers along with acquiring new ones results in stable incomes and accurate forecasts. Hence, mastering to balance both leads to a solid organization that can sustain the test of time, and both these depend on the happiness of your customers. So, along with having a unique product/service to lure in a customer you also need amazing customer service so he/she will never want to leave.
A customer support team trained to build a relationship with your customers is what makes an organization from being just another name in the market to the top-ranking names in the country or even better the world. Everything is possible if you have the trust and loyalty of your customers.
Customer Lifetime Value
This is the measure of money a customer brings into a company over the period spent doing business with them. This is directly correlated to revenue and hence to customer service. A customer who reads your emails or social media posts, and interacts with your customer service team is considered a highly engaged customer and is likely to spend a lot more on your product or service for a longer period if he is satisfied with it.
I can speak for myself here and testify that I have spent the last five years with the same internet service provider without a single moment of doubt. Five years ago I moved into a new house and called up Spectrum to subscribe to their internet service as a couple of my friends had spoken highly of them. I knew they were right the moment I was connected to one of Spectrum’s representatives, who greeted me pleasantly and explained everything in detail before signing me up. Since that day there has never been a problem that they haven’t fixed for me within 24 hours and I have stayed with them never looking for a better option. That’s how customer support affects your customer’s decisions.
Good employees are hard to find and easily lost if not motivated to stay with you in the long run. Everyone works to earn money but if you want your employees to give their best you need to create a mission-driven environment. Having a purpose in the company and feel appreciated will make your employees stick around for much longer.
If a person came up to you and applied for a job that means he/she is well motivated to work. However, it is up to you to make use of their potential. An employee who is well trained and feels appreciated in the organization will always look out for the people he works for and in turn, will work more effectively and efficiently so that your business soars to the highest levels. However, you must remember the efforts of these employees even when you’ve reached the top.
The “customer service” is not just one department. It should be incorporated into all the departments in your organization. When you value your customers and work tirelessly towards serving them, you automatically create a company culture of helping others. This results in different departments working together to make things easier for each other which ends up in higher productivity, efficiency and of course customer satisfaction.
Just as being the cool kid in high school was so important, being the cool brand in the business market is fundamental. All the brands with the best awareness are the ones that make the fortunes. Yes, you can run advertising campaigns to imprint your name in everyone’s brain but nothing can beat a great customer experience. The first thing any prospective customer does these days is to check customer reviews and if they don’t find many good reviews they will not think twice before moving on to a competitor. Therefore, your brand awareness strategy needs to be built around customer loyalty if you want to see sustainable growth in your business.
If you want to cut down on the marketing budget then turn your customers into your sales representatives. “How on earth is that possible?” you ask. Well, it’s pretty straightforward actually. Provide excellent customer service to your existing customers and they’ll gladly advocate your services to everyone they know free of charge. They will be happy to spend more on your services as well. I do not renounce the usefulness of a marketing campaign, I’m only pointing out that it is possible to reduce the cost by maximizing the value of what you already have.
It is understood that everyone who takes such a huge risk to start-up any business plans to stay in business for many years to come. Brilliant customer service plays a significant role in assuring growth and minimizing loss for a start-up. Customer service is usually overlooked when there are so many other things to worry about. However, if you understand it’s worth and help your team understand this as well, you will encounter success at every level of your organization.
Change is nature, and the way of nature is that whoever adapts to change and evolves according to the needs of the time survives while others go extinct. The same law applies to business. The aforementioned aspects justify the significance of a seamless customer support service to strengthen any business. If you change your strategies according to the latest trends you will stay in business for several years, otherwise, you’ll be gone before someone even realizes you were there.