Customer Service is often a reaction to an unfavorable experience. By anticipating customer problems and responding to them before they happen, customer service can go from reactive to proactive. This change towards increased customer attention will aid in improving the overall customer experience. Understanding your customer through trend analysis can be another vital aspect of service. It helps a company listen to the customers’ adapting needs, giving them the ability to address them accordingly.
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In both the B2B and B2C space, companies can benefit greatly from efficient customer loyalty strategies. In fact on average, loyal customers are worth up to 10 times as much as their initial purchase. Chuck Cohn says, in order to increase the likelihood that your company sees, and benefits from, this repeat business, consider implementing these three measures:
1. Develop a positive feedback loop
• One of the best ways to encourage customer loyalty is develop a positive end-to-end user experience that makes your consumers return again and again.
2. Listen to and respect customer feedback
• Aim to provide a forum or other means of communication between you and your current and future customers.
3. Utilize data and metrics to analyze and encourage loyalty
• Utilize technology platforms to track consumer information, including how, when, and what they buy.
Read the full article at forbes.com.
In this post Paul Greenberg defines CRM, customer engagement, and customer experience in an attempt to clarify the difference between them. Although they are all paramount concerns for business strategy it is important to understand the differences between each and grasp how they can enhance each other. Greenberg says that although these terms are often used interchangeably and are related, they are different in meaning. Check out the rest of the article to see where the differences in these terms/strategies exist, but how although different they can be used to support and strengthen each other.
Read the full article at zdnet.com.
CRM products and software can help solve customer engagement issues/difficulties in one or more areas. As technology advances CRM tools and strategies play an increasingly important role in the success of all organizations today. In fact when used efficiently these tools and strategies can help companies find, catch, and retain customers. In this post Brent Leary talks about the different ways CRM can be used to enhance customer engagement. Customers and prospects alike transmit thousands of digital signals via tweets, comments and reviews each day; explaining what is important to them. It is crucial to collect these signals and find meaningful insights from them. CRM tools can use these insights to strategically send personalized content, based on different kinds of data (demographics, firmographics, and buying habits), at the right time and create a consistent experience across sales channels.
Read the full article at searchcrm.techtarget.com.
The growth of mobile technology and the use of smartphones/tablets can be leveraged by companies to provide excellent customer service. Mobile devices can be used to improve productivity, enhance the ability to communicate, and reduce operational costs. More importantly than saving your company money on costs, these devices can be used to dramatically improve customer experience. Mobile technology and devices can help:
– Create faster, more efficient processes
– Offer Real-time communication and GPS
– Improve customer experience on site
– Access important information on the job
Read the full article at business2community.com.
Omni channel marketing requires, multiple marketing channels constantly working together; to create and deliver an amazing, seamless user experience. The fact is, if channels don’t work together it is not omnichannel. According to Google, 25% of shoppers start on a PC but eventually move to a mobile device. Consumers no longer use one channel to research, shop, and buy. They may research the product or service online via mobile device, tablet, desktop, or all of the above. Even in the B2B space, companies are researching products, services, and people behind the brands; using multiple channels/devices. Consumers have the ability to jump from a smartphone, to a tablet, then to a laptop within minutes; and expect brands to design a user experience that is personal, relevant, and seamless across all devices.
Read the full article at business2community.com.
One way to help businesses generate revenue from both existing and new customers, is customer retention. Marketers today are investing more time and marketing dollars to cultivating customer retention, because it is the right bet for a healthy and sustainable company. According to Bain & Company, increasing customer retention rates by just 5% , increases profits by 25-95%. In this post Jerry Jao gives us 7 examples of what positive customer retention strategies can offer. These strategies allow companies to:
– Build Trust
– Add real value
– Show your personality
– Listen attentively
– Surprise and delight customers
– Build loyalty
– Enhance Customer Service
Read the full article at entrepreneur.com.
How do you get a good voice of customer (VOC) rating? Through customer service calls, companies can listen to customer’s feedback about their experiences with, and expectations for your products/services. By listening to and interpreting these calls, companies can find ways to improve the overall customer experience. U.S. companies lose upwards of $40 billion a year due to poor customer service. Therefore, there is much to be gained by improving customer service. Finding any way to tap into the mind of customers can help.
Read the full article at linkedin.com
Too often, customer service is indifferent, incompetent, or both.
Although recent statistics and surveys indicate that consumers are less likely to be irritated by customer service than they were in past years, many companies today are simply awful at resolving customer service problems, says Scott Broetzmann (President of Customer Care Measurement & Consulting). Broetzmann also says customers spend valuable time and invest considerable effort, yet get little in return. In this post Brad Tuttle lists the practices and behaviors that get customers most annoyed when it comes to customer service; his list includes:
• 75% of people say they’re “highly annoyed” when they can’t get a live person on the phone to help with their problem.
• 75% are highly frustrated by rude or condescending responses/employees.
• 74% of people have been disconnected when placing calls to customer service lines.
• 70% of people have been transferred to a different customer service agent – who also can’t help or is just plain wrong.
• 68% of people have found that companies do not make it easy to find customer service phone numbers, contacts, etc.
• Two-thirds of consumers have experienced long wait times, phone trees that require callers to press multiple buttons, and require the person to repeat personal information over and over again.
Read the full article at time.com.
Although many have said that advancing technologies will be the death of bank branches, these predictions have little bearing on reality. Just as the rise of new technology has threatened the bank branch in the past few years, it also holds the key to their continued relevance. By implementing the right solutions a bank can ensure that its branches are cost-effective, and play a role in offering excellent customer experience. In this post FirstPost discusses the current challenges faced by banks in managing their branch networks, and outlines the best ways to transform them. In the past, the branch was the fulcrum of the bank’s relationship with its customers, but now with the rise of mobile and online banking, bank branches need to play a complementary role in an omni-channel strategy. FirstPost goes on to write how the branch needs to support other channels where appropriate, and deploy its unique asset of face-to-face contact at every opportunity. Enterprise mobility technology, is enabling branches to move away from transaction processing centers and toward value-adding sales and advisory channels. Tellers behind glass barriers are being transformed into roving sales people equipped with tablets, allowing more customer information to be captured by the bank and providing a more interactive customer experience. As fewer people visit branches, banks need to ensure that they extract maximum revenue from every visit. Branches need to move away from passive transaction processing activities and toward high-value sales, marketing, and relationship building.
Read the full article at firstpost.com.