Pleasing Customers Increases Customer Satisfaction by 20% and Revenue by 15%
When it comes to customer service, consistency is key. One of the most important considerations for customers in choosing a particular brand is consistency in service delivery. A survey conducted by McKinsey & Company across 14 different industries concluded that pleasing customers with the expected level of quality increases customer satisfaction by 20% and it also helps the company increase revenues by more than 15%.
It is critical to understand that winning customers and building loyalty takes time, and that in order to build good customer relationships, you need to deliver consistent service if you are to retain your customer’s hard-won loyalty. This is put nicely into perspective by the fact that customers, on average, will tell less than 10 other people about good service they have received, whereas the number is closer to 20 when it comes to letting people know about a bad experience.
Why is consistency valued so highly among customers?
Maintain Quality & Reliability
Consumers expect the same kind of quality each time they make a purchase or acquire a particular service. Customers base their expectations on their previous positive experiences, so it is the company’s responsibility to deliver the same level of services or beyond to ensure customer satisfaction. Consumers must be guaranteed that the products and services being sold to them will live up to their expectation and the product description.
Relationship Building & Emotional Consistency
The only way to build long-term relationships with customers is to offer dependable products and service. Being treated as a valuable customer both before and after a sale is of vital importance. In fact, to ensure repeat sales and customer loyalty, it is important that interactions with customers are consistent and quality based. The greater the emotional connection between your customer and your business, the higher the customer loyalty. After all, nothing is more trustworthy than consistency.
Obviously, no enterprise is perfect, and customers understand that. However, they are more likely to forgive an occasional misstep, provided the problem is handled quickly and with care. What customers will not tolerate is any kind of rudeness, neglect or failure to deliver on promises. This is put nicely into perspective by the fact that customers, on average, will tell less than 10 other people about good service they have received, whereas the number is closer to 20 when it comes to letting people know about a bad experience.
No matter how many loyalty programs a company offers, it won’t be able to win loyal customers until and unless the company offers consistency in communication. Communication with the business customers’ needs to be effective, to the point, and periodic. The only way customers can be expected to invest their money, time and effort into a product or service is through free and open interactions. To be able to successfully communicate at each customer touch point, strategies need to be developed for different areas of communication. These touch points can be appropriately used to strengthen the relationship with the clients and communicate all the relevant information in a timely fashion.
Furthermore, you can conduct online surveys and invite customers to provide feedback on their experiences with your organization, in order to learn what is most important to them. Once you are aware of what the key issues are, you can fix them immediately. In addition, monitor customers on all their social streams to catch praise or dissatisfaction, both of which you can learn from.
In addition, always provide clients with a time frame for expecting your response and consider setting up automated responses to incoming client emails, to ensure nothing falls through the cracks.
Businesses should also keep in mind that it is not just the product or service that needs consistency, but the overall customer journey, which includes pre-sale engagement, actual sale and after sales services. The combined total of all these interactions with the company make up the customer journey. Customers who have all the control in the competitive industry are very perceptive and they pay attention to every little detail, which means that the company can’t afford to compromise on any component of customer journey. Customers expect the same level of service quality during each stage of the customer journey. If a company consistently pays attention to detail and offers high quality services, it would result in long term relationships with customers.
We found that a company’s performance on journeys is 35% more predictive of customer satisfaction than performance on individual touchpoints. Since a customer journey often touches different parts of the organization, companies need to rewire themselves to create teams that are responsible for the end-to-end customer journey across functions.