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. >>>
Complaining customers are, unfortunately, an inevitable fact of business life. The way you respond to and handle their complaints will determine whether your customers share on social media how terrible your company is or will remain happily loyal to your brand. Today social media channels are used not only for chatting with friends, they have also become a powerful source of sharing experiences and complaining about products or services. However, it would seem that businesses are somewhat lagging behind with their customer service “responsibilities” online. Because of this, customers are becoming confused, frustrated and, perhaps most significantly, impatient. Customers will no longer bear with unresponsive or unsatisfactory customer service online. They will look elsewhere and share their damaging reviews on your dealings with them. This in return will undoubtedly taint your business and ultimately lead to a major loss in profit. >>>
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. >>>
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. >>>
Today’s customer service involves more than a conversation face-to-face or on the phone. Email, live chat and social media have become important channels for consumers to engage with brands and seek for customer support. No matter how customer service is given to consumers, soft skills are essential for a successful customer service interaction.
In fact, soft skills are even more significant than technical skills as at the end of the day what your customers will remember is how they felt about your service. It’s the soft skills that make the difference between an average customer service professional and the one who can make customers feel fantastic about the help they got from your company. >>>
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. >>>
No matter the industry or the size of your business, great customer service usually comes down to reducing the effort customers have to make in order to get their questions answered and problems resolved. Live Chat has actually become one of the most effective customer service channels that allows businesses to provide that instant online support with minimal customer effort required.
When considering to implement live support chat a common question business owners ask is: ‘Will our customers use it?’ A recent Software Advice survey proves that the answer to this question is ‘yes’: 56 % of respondents report using live chat at least once while over one-third (39 %) say they have used it more than once. At that, live chat is more popular with younger generations (aged 18 to 34) who prefer using it to get answers to simple queries and questions they have while shopping online. >>>
We’ve all been victims of poor customer service in the past and we perfectly know what disappointed, dissatisfied and angry customers mean for a business. On the other side, great customer service can do wonders by creating happy, loyal customers or even brand advocates.
While there can be numerous and various reasons why so many businesses fail at providing great customer service, let’s focus on how exactly you can make it better. In fact, even small changes in your customer service strategy and daily customer service operations can actually have a huge impact.
This Infographic shows you 15 simple yet powerful ways to dramatically improve customer service at your business, no matter how big or small it is, and no matter what industry you are in. Have something valuable to add to this list? Feel free to share your thoughts, ideas and experiences in the comments. >>>