by ethosplc | September 9th, 2018
If you want to succeed, you need to know the importance of customer service. Customer retention is cheaper than customer acquisition. Attracting new customers is five times more expensive than retaining existing customers. It’s costly to locate new customers, so you shouldn’t risk losing your existing ones. You should do whatever it takes to keep them happy and loyal to your company. Below are 5 reasons why customer service is more important than anything else.
1: Word-of-mouth advertising is the still best kind of promotion
Money can’t purchase word-of-mouth advertising. People are more likely to follow the advice of their loved ones than what an advertisement or online review says. Excellent customer service will help you earn loyal customers who will promote your business for free.
2: Reduce overall problems associated with sales and business
Excellent customer service can help reduce the issues related to business and sales. Treat customers poorly, and you will likely encounter issues at one point. Those issues can lead to the untimely end of your business. Excellent customer service also strengthens your brand and improves your public persona. This will result in positive reviews and solidify you in the mind of customers. Existing customers are also more likely to purchase than new customers.
3: Open new doors for opportunities and partnerships
Treating your customers right opens doors to new connections and opportunities. It shows that you really care about your customers. It paves the way for strong partnerships and collaborations. Excellent customer service also increases employee turnover.
When they see you treating customers well, they will feel proud to be part of the company. They will be more willing to stick around and help you achieve success.
4: Retain customers for longer
Customers are more likely to stick around when provided with excellent customer service. They are more willing to work with a company that has given them a great experience than finding someone new. Excellent customer service also extends the life of your business. When you disregard the needs of customers and don’t go the extra mile to satisfy them, you are reducing your company’s potential for longevity. Remember that without your customers, you have no business or income at all.
5: Delivers strong beliefs and moral values
Providing excellent customer service shows that you are not only driven by profit. It shows your desire to build something valuable, to help others and to contribute to a positive change in the world.