Delivering a GreatCustomer Experience

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WHITE PAPER

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Customers are the lifeblood of every business. Most companies spend the majority of their time, effort and money on customer acquisition while leaving customer retention and loyalty at the bottom of their priority list. Never forget that without customers, you don’t have a business.It doesn’t take a rocket scientist to know that incremental improvements in customer retention or quantifiable increases in lifetime value can make exponential differences to the bottom line. It does however take a real commitment and often a change in mindset to implement a solid strategy. Today’s consumer

behavior is more discriminating and potentially impactful to your brand than ever. Before deciding to buy a product or service they are researching online, comparing prices, checking reviews and asking others about their experiences. So don’t just sell products or services, sell experiences.

Tony Hsieh, founder of Zappos once said that his business wasn’t primarily for delivering shoes or clothing, but for delivering happiness.

The numbers are in:

• 58% of consumers are willing to spend more on companies that provide excellent customer service. (American Express)

• 66% of customers switch companies due to poor service. (Accenture)

• 82% of consumers have stopped doing business with a company because of bad customer service. (Zendesk)

• 95% of customers share bad experiences with others. (Zendesk)

What is Customer EngagementProviding some level of customer service is certainly not new in any industry, however the concept of engaging customers is. As defined by Wikipedia, “Customer Engagement is a business communication between a consumer and a company or brand through various channels of correspondence”.

Today’s customers expect to engage and connect with the companies they do business with in any number of ways but most importantly in ways that are convenient to them. Whether by Phone, Social Media, Email or Chat you must get connected and stay connected to your customers from the very beginning of your relationship. Gone are the days of simply providing the customer with a “welcome letter”. Ask your customer how they are enjoying their purchase,

Consider Outsourcing More than ever before, customers need to know that there is a professional and committed organization behind the products or services they buy. Managing this critical piece of a business is often challenging for small to mid-sized companies therefore choosing to use an outsource solution should be considered for 4 critical reasons.

• Avoid the costs of building and maintaining technology and infrastructure• Gain efficiency by utilizing a existing resource that is trained and ready to go• Allow for scalability to accommodate sudden or gradual growth of customer base• Gain the ability to prioritize your time and energy on growing the front end of your business

ask them to share their stories of how they are using the product or service and most importantly invite them to connect with you any time for any reason. When executed well, a strong customer engagement strategy will foster brand growth, loyalty and sales.

“Highly engaged customers tend to spend more on each purchase and make purchases more frequently, which in turn increases customer lifetime values and decreases customer acquisition costs. They also tend to give merchants valuable, often unsolicited, feedback for improving the quality of their products and services. Highly engaged customers are less likely to complain publicly about disappointing shopping experiences, choosing instead to resolve issues with the company directly.”

Source: Sitecore.net

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Measuring ResultsWhether using an outsource provider or your own in-house Customer Engagement solution, it is important to accept that unlike the direct Return on Investment (ROI) of a Media Campaign, the return realized from improving your customers experience is not as quantifiable. There are however some Key Performance Indicators ( KPIs ) and Service Level Agreements (SLAs) that should be considered and monitored. According to data supplied by: www.astutesolutions.com the following response times are industry standards:

• Phone Calls: Answered within 1 minute• Social Media: Responded to within 1 hour• Emails: Responded to within 4 hours• Chat: Responded to within 30 seconds

ConclusionSo ask yourself if you are treating your customers overall experience as the most important part of your business. If not, consider asking your customers about their journey with an email survey or an outbound calling campaign. The feedback you get whether good or bad will be real and may help your business in ways you never considered.

By: Craig Lennon Director of Business Development and Customer Engagementwww.shiprightsolutions.comclennon@shiprightsolutions.com

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