Consumers have more choice than ever before and it’s never been easier to compare products, features and prices. True customer loyalty is very hard to achieve and businesses must therefore work hard to create meaningful customer relationships.
Adding value to customer interactions and delivering service excellence is one way to differentiate you from the competition and elevate you to a position where price no longer becomes the deciding factor. In fact companies that provide a superior level of service and look to add more value can charge a premium for the products or services they offer.
Concentrating on service gives the potential for higher margins and helps create meaningful relationships with customers that last longer – customers whose value will only increase over time.
Here are just a few of the reasons why striving for service excellence makes commercial sense:
It improves customer satisfaction and loyalty
It’s an obvious one but you can’t underestimate the importance of customer satisfaction on business performance. Sadly therefore are far too many companies who still focus more of their resources on obtaining new business rather than investing in delivering service excellence and improving customer experiences. The latter will undoubtedly retain and drive repeat custom, which as we all know is much more cost effective and more valuable long term.
It boosts confidence and morale of employees
Happier customers means happier staff which creates a virtuous circle. A culture where service excellence plays a key role creates a feel good factor and gives staff the confidence to ensure that any potentially negative situations are recovered and dealt with quickly and effectively.
A positive environment is good for everyone and happier, motivated employees not only means better service for customers but also means better retention of staff, which is another significant cost saving which needs to be taken into account.
It Improves Reputations
The most effective and profitable businesses grow through word of mouth referrals and recommendations. Or put another way reputation. Delivering world class customer service is a sure fire way to ensure you get a positive reputation and word will spread fast, especially in the digital world we now live in.
Enhancing your reputation through superior service will be a key differentiator against your rivals and will set you apart when customers are researching alternatives. Customers will come to you, so sales and marketing budgets can be scaled back, and your business will become a place where your employees are proud to work, thus reducing staff turnover.
Customer journey mapping tools such as Mapovate can help businesses of any size to really understand the key customer touchpoints and where they need to focus their efforts to help deliver service excellence.
By investing in service excellence and improving customer service your business will benefit not only from more satisfied customers but improved employee engagement, more repeat custom, reduced staff turnover, increased customer loyalty and an enhanced reputation – all leading to an increase in revenue and profitability.