The world is rapidly changing, and so is customer service. If you think your business is offering outstanding service now, the truth is that with the ever changing customer expectations, what seems satisfactory today might simply be outdated within half year. Is your organization keeping up with the pace?
As customer service and customer experience have become key diffentiators for brands across all industries worldwide, it has never been more important to know as much as you can about your customers, their preferences and service expectations. In fact 75% of companies already recognize service as a competitive differentiator. >>>
Millennials, also known as Generation Y, are among us and before you even know it, they will make up most of your customer base. Besides being the largest demographic in the marketplace, Millennials have greatly redefined the customer experience and continue to challenge businesses to keep up to their ever-changing expectations.
Accenture predicts that in the US by 2020 their retail spending is expected to hit $1.4 trillion per year, which is a huge share of the global spend. That’s why if you want to ensure a long life for your business, you simply can’t ignore this powerful generation. >>>
For many years shopping cart abandonment has been a huge problem for eCommerce business owners. According to the Baymard Institute, the average documented online shopping cart abandonment rate is 68.53%, which is an outrageous statistics. To put it simpler, nearly 70 out of 100 people leave your website without completing their purchase!
While there are many reasons online shoppers abandon their carts that you have little or no influence over, such as comparison shopping, many of them can actually be prevented if you know what exactly to focus your efforts on. Those are mainly connected with how user-friendly and credible your website is. >>>
There are many talks today around how to create a winning customer experience. It goes without saying that nowadays with increasing choice, high availability, and more standardized pricing of products, the competition has evolved into the challenge of making customers feeling positive and happy about their experience with your brand.
So how do you go about winning and keeping customers? You can find a plenty of good books and articles on the web revealing secrets to creating memorable customer experiences. You can also put a great deal of time and effort into collecting and analyzing your customers’ feedback, as well as invest heavily into painstaking market research. For sure, you’ll discover something new and helpful. But it’s only the tip of the iceberg, I kid you not. >>>
According to the 80/20 rule (the Pareto Principle), 80% of business comes from 20% of customers – in other words, a small group of your customers is generating the bulk of your revenue. That’s why acknowledging, respecting and rewarding these 20% is imperative. After all, loyal customers are the biggest assets of any business.
In fact, customer loyalty is the key determinant of an organization’s success, yet many companies still keep focusing more on sales and customer acquisition. Getting new customers is great and necessary, but keeping them coming back on a regular basis is gold. >>>
There are many talks around what companies should do to create happy customers. I suggest that we as customers share this responsibility with companies. To a great extent it is in our power to have positive customer experience wherever we go and whatever we purchase. So what should we do for that?
If you observe your previous customer experience, you will probably agree with me that in general there are two reasons your happiness as a customer fails – either you are unhappy with the product that you have purchased, or you are unhappy with the service the company provided to you.
There are remedies for each type of failure. By paying attention to a few things below, you can minimize the risk of ending up an unhappy customer. >>>
In a huge variety of brands offering similar products or services, how do you separate yours from the competition? Since price becomes much less of a deciding factor when choosing between your brand and competitors, caring for your customers and nurturing relationships with them has never been more important in growing a successful business.
Zig Ziglar once famously said, “People don’t buy things for logical reasons, they buy for emotional reasons”. Statistically, 75% of buying experiences are based on emotion. It means that in order to attract and keep customers you need to do more than simply introduce them to your business or products, you need to create and keep an emotional connection with them. >>>
What will your customers look like in 2020? What will they expect from your business? Will you be ready to meet their needs and expectations? According to the report Customers 2020 by Walker Information in collaboration with Customer Think and the Chief Customer Officer Council, in 2020 customers will be more intelligent, more informed and more demanding.
As stated in the report, customer expectations are going to change dramatically as they will expect to interact on their terms. With the explosion of digital and acceleration on innovations, customers will demand companies to personalize the experience, predict and proactively address their current and future needs. Generally, by 2020 customer experience will overtake price and product as the key brand differentiator. >>>
We’re in an incredibly fast paced and ever changing world where consumer choices are rapidly expanding and customer expectations are constantly increasing. Surprisingly though, how many business owners still need to be convinced that improving customer service and customer experience is essential and can lead to increased customer retention, brand loyalty and more revenue.
On the other side, just a single poor customer experience can easily break customer relationship and have a negative impact on brand reputation and the bottom line, as the voice of the customer has never been louder. That’s why downplaying the importance of customer service and customer experience is no longer an option. >>>
There should be no guessing game when it goes about improving customer experience. Today lots of various metrics allow you to measure your customer experience and based on those results you can take advantage of different techniques to make your customers happier and more satisfied. Knowing what your customers think about your customer service, brand and products will help you to develop the right strategy for improving the overall customer experience. Customer service excellence has always been and will always be one of the critical competitive advantages for any business. >>>