Many studies find that improving customer satisfaction is a top customer focused priority. We know that the key to improving customer satisfaction is providing great customer service. However, when it comes to making the commitment, management is hesitant about allocating precious resources due to the perceived high cost. Business owners can feel more confident about making the investment now that the value of delivering such an experience has been quantified by a recent study. Peter Kriss (2014), in Harvard Business Review online, retrieved from https://hbr.org/2014/08/the-value-of-customer-experience-quantified/
An important takeaway from the study shows the benefit of delivering a great customer service experience.
- Customers with the best past customer service experiences remain loyal and spend more over time.
- Revenue improved in proportion to the increase in customer satisfaction..
- By minimizing the source of customer dissatisfaction, the cost to serve customers is reduced.
Businesses that have moved some applications to the cloud and plowed those associated savings back into improving customer service.have benefited. And, with the many low-cost or free cloud based applications available today for improving customer service, businesses need to make the commitment. Improving customer service has to be one of your best business investments.