By: Brittany Klusaw, Director, Customer Care
Businesses that prioritize positive customer interactions are more likely to generate a loyal customer base, and that produces tremendous benefits for organizations.
Research shows that more than half of consumers are willing to spend more on a product if they’re loyal to the brand, even if less expensive alternatives exist. Loyal customers also purchase at a 90% greater frequency and are far less costly to engage with marketing initiatives.[i]
If you’re wondering how to create more satisfied and loyal customers for your company, we’ve got you covered with five important keys to customer service.
Trust plays a considerable role in drawing customers to your brand. In fact, 81% of respondents say trust is the deciding factor in their purchasing decisions.
Trusted brands are characterized as empathetic and in touch with customer concerns. That means you can develop trust by listening, expressing empathy and taking accountability when problems arise.
Most customers can accept that problems occur, but companies that fail to take the appropriate steps to rectify issues lose consumer confidence and loyalty and fall to the bottom of satisfaction scales.
Research shows 80% of customers say they are more likely to purchase from a company that provides personalized experiences. If you’re curious about how this looks in daily operations, let’s examine what customers value most.
When talking with your customers, taking time to listen and understand their needs increases business success and satisfaction at the same time.
Personalized marketing messages also are important to 72% of customers. However, personalization preferences aren’t confined to advertisements and marketing emails. In fact, 91% percent of customers are more inclined to buy from companies who recognize them and provide relevant offers and recommendations across their entire buying journey.
Whether you sell to consumers or other businesses, your customers are looking to you for knowledge and support. When employees are unable to answer questions or provide insights, it reflects negatively on the organization.
In a way, this comes back to trust and personalization. After all, it isn’t easy to have confidence in a brand that doesn’t know its own products, services or customer needs.
To demonstrate industry knowledge, many businesses proactively provide information on products and industry trends through blogs or other content marketing. Building a library of resources on relevant topics provides your customers with a place to find answers and builds your brand position as a thought leader.
Easy and convenient service, whether addressing questions or selling products, makes for satisfied customers. But it’s interesting to note that better service doesn’t always require human effort.
People are increasingly demanding self-service options to handle routine tasks, such as paying bills and updating information. A growing number of customers even prefer to ask questions using technology.
The purchasing journey is another area where customers expect a simple and efficient process. In some industries that means establishing the right combination of online and in-person sales options. Other businesses may require more efficient store layouts or easier access to sales teams.
A happy customer is an appreciated customer, so establishing ways to express your thanks can go a long way to improve satisfaction.
Businesses express gratitude in many ways. For smaller companies, a simple thank you note may be sufficient, while some companies go all out when it comes to showing customers appreciation.
From advertising campaigns that highlight valued clients to those that offer special discounts, the perfect thank you is always personalized to your customer base.
Recent research indicates that 59% of loyal consumers would stop doing business with a company after several bad experiences. The same survey indicates that 17% of consumers are far less tolerant and will cut ties with a business after a single negative interaction.
You don’t have to do the math to realize that satisfied customers are essential to the success of your business, so there’s no better time to put these five keys to customer satisfaction to work for you.
i Carol M. Kopp. “Brand Loyalty.” Investopedia, Jun. 8, 2022. Web.
The articles in this blog are for informational purposes only and not intended to provide specific advice or recommendations. When making decisions about your financial situation, consult a financial professional for advice. Articles are not regularly updated, and information may become outdated.