It’s reported that it costs 5, 7, or even up to 30 times (depending on your source) more to acquire a new customer than it does to retain current customers. While these numbers vary greatly, all sources agree that it’s in your best interest to keep your current customers happy in order to be profitable as a company. In order to establish customer loyalty, it’s necessary to provide a great customer experience. Here are 5 important ways to do so:
Offer a superior product/service
Without a great product or service that fulfills the needs and expectations of your customers, you’re dead in the water. You must offer something of value and have a unique selling proposition. What sets you apart from the competition?
Be available
In today’s always connected world, customers want access to information quickly. They want to know that they can easily get in touch when they have a question or concern. Companies need to be available in many different channels. While the call center remains the hub of all customer service inquiries, it’s necessary to also be available via the website and social media channels.
Properly train employees and recognize their achievements
Happy employees translate into happy customers. Think about it. Would you want to buy from a store if all of the sales associates are grumpy because of their poor working conditions? Probably not! Your employees are representatives of your brand. They must be properly trained in order to feel empowered in their position. In addition, they should be recognized for their achievements and encouraged to work towards their goals which may include promotions and higher salaries.
Invest in modern technology
In order to be successful and maintain customer satisfaction, a company must continually be investing in the business. This is true throughout every department, not just product development. What technology can help employees do their jobs more efficiently, which translates into improving customer experience and the bottom line? This includes everything from the equipment in the warehouse to the software on employees’ computers. Instead of looking at the upfront costs, businesses must instead be considering the long term ROI potential of new technologies.
Say “thank you”
Companies often overlook what is really the most simple concept. Make sure your customers or clients know that you appreciate them! During any communication via any outlet, always be sure to say “thank you.” It really goes a long way! To take it a step further, find other unique ways to show customers that you are grateful for their business such as holding customer appreciation days or by offering exclusive rewards. Customers should be treated as valued partners in order to earn their loyalty.
