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Why Excellent Customer Service Matters
We are gonna drop a huge truthbomb on you: customer service is the powerhouse of your business. Think about it – the way you handle your customers will determine if you retain them, and how much value you can receive from them. When you provide top-of-the-line service to your customers, you not only recoup acquisition costs, but you solidify a valuable relationship that will provide customer references, case studies, testimonials, reviews and more.
Excellent customer service is one of the biggest marketing hacks. Your loyal customers will refer their colleagues to you, free of charge, by providing positive testimonials about your company. Aside from receiving some free marketing, we are going to break down for you all of the benefits to having outstanding customer service practices.
Set Yourself Apart From The Rest
We all are searching for ways to stand out among the crowd. We try to get creative with social media, run compelling ads, design intriguing offers, etc.. But step one to setting yourself apart is by holding your company to a higher standard. Keeping your customers loyal, and continuously exceeding their expectations will boost your company’s reputation and have them always coming back for more.
According to Hubspot, 60% of customers stop doing business with a brand after one poor service experience, and 67% of this churn is preventable if the customer’s problem is resolved during their first interaction. This means that along with maintaining your existing clientele, you can also gain your competitors clients.
Your Service Represents Your Values
When you first started your company, you took the time to create a mission statement, a vision, and a list of values. You created a foundation on which your business would stand on. With this in mind, it only makes sense that the way you carry out your business reflects those values.
It is vital that when you onboard team members, they have a clear understanding of the company values as they head into interacting with clients. 73% of customers say they stay loyal to brands because of friendly customer service reps (Source: Hubspot). Your customer service team should keep your mission and vision in mind every time they interact with a client, as they are expressing the image of your company with their actions and words.
Grow Your Customer Lifetime Value
You know the Golden Rule: treat others the way you wish to be treated. In that regard, know that when you invest in your clients, they will invest in you. Excellent customer service will prompt your clients to spend more money with you, whether they are adding on services or renewing their contracts. Another avenue in which your existing customers can contribute value to your business is through their feedback. If they share a positive experience via word of mouth or through an online review, your company appears to be more credible to potential clients. This also contributes to a smoother sales process, and creates opportunity to upsell and cross-sell.
Exceptional customer service is the foundation to any amazing business. Revamping your customer service practices can completely transform your company and increase your customer base exponentially. It starts with looking at your company’s core values, and strategizing ways to express them when communicating with both new and existing clients. Start squashing your churn rate, and start increasing your customer lifetime value today! It all starts with a little kindness.