Twenty one years into the 21st Century, many companies still hold on to the same dogma. Marketing attracts prospects; Sales acquires customers; Service is a necessary evil.
When the going gets tough, the first thing those companies think of, is cutting costs in customer service, because that department is not perceived as direct contributor to revenue and profit.
That is a mistake. It is well researched, studied, demonstrated and documented, that…
- Good customer service is crucial for Retention, Renewal, Repeat business;
- Poor customer service impacts customer Experience, Satisfaction, Loyalty.
According to Forbes, poor customer service is costing businesses more than $75 billion a year. So, it sounds like weakening customer services might not be the right strategy.
It’s well researched, studied, demonstrated and documented that acquiring new customers is more expensive than keeping existing customers.
With that in mind, it feels like companies going through hard times should rather…
- support and reinforce customer service;
- prioritise retention, without neglecting acquisition.
Investing in Customer Experience (as a business discipline) and Technology (as an enabler) is, in my opinion, the best strategy.
It’s well researched, studied, demonstrated and documented that the return on investment of having a good CX program is not just massive, but also lasting.
It’s also well researched, studied, demonstrated and documented that technology is not just one of the quickest, but also most cost-effective ways to enable good customer service.
A technology platform, built from the ground up with a focus on customer experience and aligned with a good CX strategy, allows companies to…
- Be where customers are – making conversations easy and convenient;
- Give customers what they want – making interactions effortless and consistent;
- Collect customers feedback – keeping the finger on the pulse of the experience;
- Understand customers behaviour – informing the improvement of experiences;
- Orchestrate customers journey – increasing personalisation and efficiency;
- Analyse and gather actionable insight – prioritising fixes and development areas.
Remember… it is very well researched, studied, demonstrated and documented that word-of-mouth is the cheapest way of Marketing and the most effective way of Selling.
Jeanne Bliss (the mother of CX) says you need to “earn the right to have customers tell your story” – customers that tell their friends, families and followers about your brand and products.
That is the making of a Customer-Driven Growth strategy, and Customer Service is at the core.