Do not pay the high cost of failure in customer service – it could bring you to your knees
We spend a lot of time at Peakinsight researching, training and teaching about customer service as we look to guide business owners and key members of staff through the best practice that will lead to business strength and longevity. With so much emphasis placed on customer value it is therefore surprising that one fifth of worldwide companies are failing to deliver the level of service their customers expect.
America and Asia would seem to be leading the way, according to research, when it comes to meeting customer expectations and Europe is still seen to be lagging behind on the delivery of great service and as such are failing to secure potential profit increases as a result.
There is a proven firm correlation between increased profit and customer service initiatives, but European businesses are still unable to keep their customers satisfied as they fail to effectively and speedily evolve their customer programmes.
Research shows, unsurprisingly, that 92% of UK want to spend their money with organisations that are easier to buy from. They want to spend but want the experience to be pleasurable, easy and cost effective.
This conflicts with only a fifth of British managers being found to believe that customer effort significantly impacts spending satisfaction and retention. Furthermore, less than half of them have proper initiatives in place to make doing business easier for customers.
How important is your customer’s experience to your business?
In general, U.K. and European businesses place less importance on managing their customer’s experience. This contrasts vastly with the US, with China, India and even Brazil, not far behind, in their keenness and enthusiasm to drive an effective customer management programme in their businesses. In India three-quarters of business managers say customer experience management is very important.
Where do you start?
A third of companies who do not have a customer management programme in place believe that a lack of appropriate technology. Another third say they are being held back by the fact that different parts of the business own the customer experience.
We believe that this is a poor excuse of any company, whatever the size as we have discussed throughout our site. Customer satisfaction, customer service and customer management is core to every business and should be a central tenet for every employee. Every employee is responsible for business customers. It is simple, everyone should feel that they are the owner of customer management.
Customers are king – they always have been and will always be. In this digital age, more than ever, there is no excuse for offering poor service so you owe it to your business, as well as your employees and customers, to review your management policy and customer care needs. With so many inexpensive software systems available which are easy to employ, with so many customer care based training courses available, there is no excuse for not having a comprehensive programme in place – after all, it is customer loyalty that leads to increased profits for your business.
and the peakinsight team