The business environment today requires a lot of work to stay ahead of the competition. Every business needs to adapt to thrive or it will, inevitably, face failure. One of the big struggles in the business world today is successfully working out two sides of the spectrum: profits and satisfying your customers.
The problem arises from the fact that not every business believes that the customer is always right. It is essential that you don’t focus all your efforts on chasing profits, while forgetting about supporting your customer base. Here is why customer support has to be your top priority.
Your existing customers are more likely to buy from you
Aside from the fact that you should do everything you can to keep your existing customers because it is less expensive, it’s vital to keep in mind the fact that selling to a new customer has less probability. Your old customers already trust your brand and like your product, and the process of obtaining new ones is a lot harder than catering to your current customer base. The probability that you’re going to sell to a new customer falls into the area between five percent and 20 percent, while the chance of selling to an old customer goes up to 70 percent.
Great customer service strengthens your brand image
Since the way people see your brand needs to be one of your main concerns, you have to focus on your customer service efforts. The reputation and the strength of your brand depend on it. It does more than bring you positive reviews, it caters to the minds of people who might be interested in your products and services. If you don’t take proper care of your customers, your brand’s image will suffer, and so will your sales.
Nothing beats word-of-mouth advertising
Word-of-mouth advertising is probably the best form of advertising out there — it can have a huge effect on your business. By creating a loyal fan base, you are gaining people who will do your marketing for you. The only thing that beats reading an online review or following up on an advertisement, is when your potential customers listen to the advice of a friend. This is more likely to drive them to buy from you.
Quality customer service opens up new opportunities
If you treat customers properly, word gets out. When other businesses in your niche learn about how good your customer service is, they will be more likely to partner up with you. It says a lot about you as a business if you take care of your customers well. Not only is it a rarity nowadays, it is also one of the best ways to form partnerships and collaborate with other companies, as well as have an open door to various other business opportunities.
Taking care of problems in the long run
When you take care of your customer base like it is your family, you are making sure that any potential problems related to your business, sales, or even legal issues, are lessened or taken care of beforehand and, therefore, are much easier to deal with in the long run. If you, on the other hand, don’t treat your customers well, you are bound to run into problems sooner or later. Some of these problems can be devastating for your business.
Improve the employee turnover
Another group of people that pays close attention to how you’re dealing with your customers are your employees. When they see you treating your customers well, it makes them feel like they are a part of something important, making them proud to be part of your team. It also makes them want to stick around and follow your example. If you, on the other hand, teach your employees to undercut your customers, it will have the opposite effect on employee turnover.
Communicate strong beliefs and moral values
Quality customer service says a lot about your company’s mission – it communicates a strong set of beliefs and moral values. It shows you aren’t only chasing profits, but are also focusing on the community. This way, your message conveys that your company wants to create something of greater value, and that your intention is to help others and affect the world with what you have to offer. It speaks of what is important to you, and makes others want to follow your mission.
Elongate the life of your business
Research has shown that only about four of every 100 businesses last for more than 10 years. That means that the failure rate is extremely high. When you focus on profits and ignore what your customers want and need, you are cutting the potential of your business making it for long. Next to all the responsibilities that you have, your customers need to be at the core, because without them, your business is as good as non-existing.
If you are serious about making it in the business world, you need to keep in mind the reasons why customer support is essential to your success. There are many questions you should ask yourself when it comes to your customers. What is it that differentiates you from other companies? Why should a customer choose you instead of your competition? What value do you offer? By answering these questions and forming a strong relationship with your customers, you are making sure your business thrives and survives.