It’s difficult to put a precise figure on the value of customer service because it depends on the business and industry. However, great customer service can help you stand out from your competitors, improve satisfaction, increase overall basket value/spend and boost retention.
What is the value of customer service?
- Retaining existing customers is more cost-efficient than acquiring new ones
- It’s easier to sell to returning customers…
- …and they often spend more per transaction as they’re usually willing to pay more if they know they’ll receive good service
- Happy customers help raise your brand awareness as they can spread good words about you
- Great customer service adds a competitive edge that can’t be taken away, even as technology advances
While we can’t easily quantify the value of customer service, the value it provides to your business is clear.
How to improve customer service
Today’s customers are more demanding than ever before. At the top of their list of demands is convenience. So, don’t make it difficult for them to find the answers to their questions or solutions to their problems. Make it fast, easy and convenient.
For example, 24/7 customer service in the form of live chat handling queries during business hours and a chatbot on standby for all the other times.
Over 30% of B2B technology customers want to speak to virtual assistants rather than human sellers.1
Offer a range of communication channels
Not every customer will want to reach out to you via phone or email. Some people might prefer live chat. Others might want to chat to your customer service reps on social media. Show that you’re catering for various customer needs and evolving profiles by offering a range of communication channels.
Personalise customer interactions
Help customers feel special by offering personalisation.
For example, if a customer returns to your website, greet them via first name. Or, provide personalised product/service recommendations (also a great way to up and cross-sell).
91% of consumers are more likely to purchase from brands that offer recommendations that are relevant to them.2
Effective personalisation relies on leveraging customer data. So, make sure you’re following data management best practices to ensure your CRM data is clean.
Understand how service is delivered
If you understand how service is delivered, you can easily pinpoint areas where things may go wrong and plan for alternatives. Do this by creating a delivery flowchart that clearly maps out your customer service process.
Gather customer feedback
Regularly check in with your customers by way of follow-ups and reviews. This is a good way to show your customers that you care about their experience. Plus, it’s the perfect chance for you to learn more about how effective your customer service is and improve!
Here are some examples of questions to ask your customers:
- What benefits do you receive from our products/services?
- Which areas of our products/services makes you happy?
- If there’s one thing we could do better, what would it be and why?
- Would you renew your contract with us based on how you feel right now?
- Would you recommend us to your friends and family?
Gather employee feedback
Your customers aren’t the only parties who can help you highlight your successes and areas for improvement when it comes to customer service. Your employees can help too. Ask your team what they think.
Here are some examples:
- Do you feel like you have sufficient product/service knowledge?
- Do you require further training? If so, in which areas?
- How happy and satisfied are you in the workplace?
- Do you feel as though you receive enough support with regards to career development?
Great customer service and experience gives your business a competitive edge
Once, it was enough to attract and retain customers via the uniqueness of your products/services. Nowadays, it’s becoming harder to provide truly unique offerings and stand out from the crowd using USPs alone.
To offer exceptional customer service and experience that sticks in your customers’ minds and has them coming back for more. The 21st century customer looks at proactive customer service and an intuitive, personalised experience as well as product/service functionalities.
In our guide to customer service and experience, we cover how you can excel in both. Download the guide to find out more.