Acquiring new customers is important, but retaining them is more profitable. In order for a business to survive, it needs money. To make money, you need customers. More specifically, you need happy and loyal customers. If your business focuses on customer satisfaction, it is more likely to keep these customers happy and returning.
Gaining a new customer is similar to making a new friend, as it is exciting and rewarding. Just because you’ve made a new friend, you wouldn’t ignore your old friends. The same applies with customers. The long-term customers add more value in the long run, than newer/single-deal customers. So, if we can keep a larger percentage of the long-term customers happy, we end up with more profitable and predictable customers. >>>
As the new technology keeps booming, innovation in customer service follows. Many of us take the time to reflect on the milestones achieved in the past, and also look ahead to what the future has in store. How many changes will it bring about for those in customer service? Are chatbots and virtual agents likely to replace humans any time soon? And if so, what does the future hold for human CSRs and what will be the role of AI in customer service then?
2017 has seen a proliferation of innovations in customer service featuring AI-powered chatbots and virtual agents for a wide range of purposes from engaging at a pre-sales point to assisting with billing transactions and making post-sales service appointments. With the obvious increase in use of AI technology, let me briefly summarize some of the recent trends shaping the role of AI in customer service. >>>
Whether you are a start-up company, regional SME or global corporation, chances are how you and your staff provide great service to your own customers is a process that has been carefully honed and refined. The customer care you provide should after all be your biggest USP as a brand, especially as super savvy consumers expect more from the companies they spend their hard earned cash with.
Nowadays you have more versatility than ever to deliver the very best customer care, but social media channels and live chat tools aside, content as customer service is becoming more important. In recent years, content marketing has become integral to the online profiles of organisations of all sizes and niches. Now, with the right strategy, you can use good content to engage, inform and even inspire your customer base, regardless of whether your aim is to attract new customers, retain existing ones or both. >>>
Over the recent years customer experience has dramatically grown in value to supersede product quality and price. Companies that deliver outstanding customer experience can truly win over the competition, retain more loyal customers and improve their bottom line. So what’s trending in the world of CX today?
Since customer expectations are changing just as rapidly as technology advancements, improving customer experience has become an ongoing goal for most companies. Dimension Data found that over 82% of companies recognize the customer experience as a competitive differentiator. According to another survey by Harvard Business Review, 86% of business leaders agree that CX is vital for success. >>>
Zendesk survey revealed that 62% of B2B and 42% of B2C customers purchased more after a good customer service experience while 66% of B2B and 52% of B2C customers stopped buying after a bad customer service interaction.
If you want people to buy your staff or use your service you need to understand how they make purchase decisions and what kind of factors have an impact on them. It is equally important both for small businesses and large corporations.
The impact of customer service can be detected even before your prospects start their interaction with your customer service team. Here are 4 things you should know about purchase decisions. >>>
In the abundance of more or less similar products, customer service has become by far the most influential brand differentiator these days. According to the recent study, almost 90% of buyers are ready to pay more for a better customer experience, which proves the importance of this aspect of the business.
In such circumstances, companies are eager to find better methods to analyze customer service and this is exactly where data science steps in. By definition, big data represents large sets of information that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions. In this article, we will show you 5 ways how big data improves customer service. >>>
There’s no doubt that in this increasingly digital era Live Chat has become the number one support tool for many businesses from different fields and industries. Small start-ups, mid-sized companies and major corporations use it to handle customer communication. Whatever the company size, they enjoy greater results in terms of customer satisfaction, mainly driven by high user adoption and minimum support needs.
What makes Live Chat so compelling to customers and why do more and more people prefer it over phone and email? And still, why do so many online consumers rate their typical live chat experience as poor? Let me share with you the top 3 pro arguments and top 3 worst attitudes to avoid. Look to these indicators to figure out how Live Chat can come in handy for your business, and what you should definitely bear in mind if you opt for this support solution. >>>
As per an Accenture report, – only 23% of B2B companies achieve impressive returns on their customer experience investments. In addition to that, only 20% generate low or no return, indicating that an alarming 57% are not exactly benefitting from the CX strategies. This brings us to a very pertinent question- Does CX really matter in a B2B segment?
To begin with, a customer centric approach is the way forward and it is equally relevant in both B2B and B2C settings. Buyers are more informed, and they look forward to greater engagement and transparency. However, the approach, rationale and implementation of CX strategies vastly vary between the two domains. >>>
To connect with new customers don’t try to get inside their heads. Get inside their hearts. Create an emotional connection. – Bill Quiseng
Some of the world’s most successful business leaders know that attracting customers and winning their loyalty isn’t merely about the product or service. It’s more about offering an experience that creates an emotional connection between the customer and the brand. In fact, the Temkin Group found that while all three components of customer experience – success, effort, and emotion – have a strong effect on loyalty, emotion turns out to be the most important element.
When companies connect with customers’ emotions, the payoff can be huge. According to the Harvard Business Review, consumers who are emotionally connected with a brand are anywhere from 25% to 100% more valuable in terms of revenue and profitability than those who are “merely” highly satisfied with it. >>>
Customer service and marketing are often seen as completely different processes by most companies. Strategies for each of the process are planned independently; employees of these departments take separate trainings and sometimes work in different buildings or even countries. Indeed, differences are obvious – marketing is about getting new clients while customer service is about making them happy. But if we look closely these processes often overlap, coincide and interchange. Let’s explore how customer service and marketing can intensify and strengthen each other. >>>