Why customer service is your most important metric
For many brands, customer service has never been a main focus and for many years it was easy for a brand to experience exponential growth with little to no investments when it came to providing there customers with the best experiences. This mentality dates back to the beginning of time, the old school thought that businesses exist to solely earn profit. However, but for a business to survive in the new digital age, customer service needs to be a priority.
In the digital age, social media social media has amplified people’s voices, and you can’t afford for your customers to share negative experiences online. Customer service is often the only contact a customer has with a company. And when you pay it no attention, it will not only effect the experiences your customers receieve but also your chances of making any money.
Let's break it down:
- Businesses need money to survive.
- To make money, businesses need customers.
- When these customers are happy, they tell their friends about you and keep coming back.
Taking care of your customers conveys a strong brand message that your customers are at the center of your business. Clearly, that's the way it should be, but you'll be surprised at how many companies forget who they are serving. If you want to be around in 5 or 10 years, you really have to place the customer at the center of your business.
It's about treating your customers like you'd treat your family. And that doesn't happen by talking down to them or looking for any possible way to extract more money from them. It happens by truly going out of your way for them and adding enormous amounts of value to the equation.
3 reasons why good customer service is your most important metric
1. Keeping a customer is far less expensive
Customers cost a lot of money to acquire. This is one of the most highly publicized satisfaction stat out there, but it's also very true. It costs six to seven times more to acquire new customers than it does to retain existing customers. For that reason, focusing on improving your customer service has a more likely return than trying to acquire new customers.
2. Existing customers are more likely to buy
While there's nothing wrong with acquiring new customers, many times, new businesses often forget about there current customers and keeping them engaged. Most businesses forget that most of their purchases come from existing clients and to neglect them means you are potentially closing the door on additional income. First time entrepreneurs, especially can't afford to miss out on this opportunity. I always suggest in finding way to re-engage with your existing customers, such as, sending them exclusive deals for being a long time supporter of your brand.
3. The best form of advertisement
The best kind of marketing will come directly from word of mouth and there's no better sales reps than your current customers. People are considerably more likely to listen to the advice of a friend than they are to listen to some online review that's hosted on your business website. However, online reviews are almost as important as word of mouth. Considerably now, with the rise of social media and transparency, your current customers can now also post reviews and experiences on your social channels for everyone to see. A bad review never goes away, but if you are proactive you can lessen the blow and eventually turn that customer experience into a positive one.
How to to add value to your customers
As you look at your business today, start by revisiting points of interactions with your customers. Look for any where you can add any additional value to make their experiences unique. I'll share with you two quick examples of how I try to add value to my customers, which begin as soon as they sign up for any of my newsletter.
Send on-boarding emails to express appreciation
A sure way to make a great first impression begins as soon as you capture your customers email address. As soon as customers sign up for my email addresses I always send a "Welcome to the Tribe" email to reassure that they're in the right place, they'll receive tremendous value, and I address any concerns they may have. But the most important thing I do is giving them the option to send me an email to introduce themselves.
Send follow up email after purchase
If you are not already doing so, a nice touch you can add to your business is sending a follow up email to your customers after the point of purchase. The follow up email should capture their experiences with your brand, how they're enjoying the products/services, and what you can do to better serve them.
How do you show your customers/clients appreciation? What would your customers tell others about your brand?