What makes high performing companies successful? In a business world where customer satisfaction is one of the most important metrics, the answer is obvious. The majority of B2B companies can correlate revenue growth with increased levels of customer satisfaction. Nowadays, customers are exceptionally demanding and do not accept anything less than excellent. The customer-centric approach has taken the lead in the modern world and those who do not understand the importance of this are surely going to lose. If your employees are not able to deliver customer service of the highest standard, customers will not hesitate to change brands and vendors
- 86% of consumers stop doing business with a company after repeated bad experiences
- 37% consider switching immediately after the first poor service experience
There are many approaches to enhancing customer service but the latest research shows that it all starts with how you treat your company's internal customers. Consider this – a 10% increase in employee retention levels results in a 30% increase in the value of the company. Replacing a mid-level employee costs 150% of their annual salary, while replacing a high-level employee costs a staggering 400% of their annual income. Optimizing the employee experience is equally important as it delivers benefits such as reduced costs of dissatisfaction and a higher employee retention rate.
Leveraging an omnichannel customer service approach will also drive customer engagement and loyalty. In the past 30 years customer service channels have moved swiftly from letter to phone to email to webchat and now social media and smart phones. In 2015, about 15% of customer support activities were carried out from a mobile device. Modern customers want to be serviced with the same convenience as cross-channel shopping and they want to get their requests answered quickly and efficiently. Therefore, in today's ever-connected world the forward-thinking companies use all available channels to service and build strong lasting relationships with their customers. A customer-centric company looks at customer service as a philosophy to be applied internally and externally and embraced by every employee of the company. That’s why we advise you to download this practical eBook and learn how to build integrated service processes to drive higher customer engagement and loyalty.