Entering the Age of the Customer
- Done well, customer service boosts brand equity at least as much as advertising campaigns
- Good customer service builds loyalty and repeat business
- Increasing loyalty also boosts incremental revenues
- Customer service identifies processes for improvement, lowering costs
All of these benefits are true, and from Eptica’s experience helping 350+ companies with customer service I’d add four more:
- Good customer service saves money. The more calls/emails that a customer has to make the higher the cost to the company – not counting the chances of the angry customer moving to a rival.
- Knowledge management. Centralising your knowledge for customer service not only helps consumers but captures vital information that can be used to drive your business forward.
- Differentiation. As Forrester says, many companies offer the same or similar products and services. Delivering customer service is the only real way, apart from low prices, to differentiate yourself from the competition.
- Employee retention. No-one wants to work for poorly regarded companies – if you’re respected as a leader in customer service it will be easier to employ and retain key staff across the business.
The key message is, whatever sector you are in and wherever you are based, now is the time to listen to consumers and act accordingly if you want to flourish in the Age of the Customer.