3 Reasons Why Customer Service Is the Actual Product

“If you make a sale, you can make a living. If you make an investment of time and good service, you can make a fortune.” — Jim Rohn

Without your customers, you can't build a business, even if you have an amazing product. That is why great customer service is the most valuable aspect of your business. After all, there are only two ways you will improve business operations — decrease your costs or increase your sales.

Treat your customers right, and they will help you achieve the latter.

Customer Service Is King

In today's competitive market, most experts agree that great customer service is your most important metric. If you develop strategies that allow you to consistently deliver sincere appreciation and value to your customers, you will drive your success.

However, if you ignore this critical metric, you can quickly seal your own fate. According to an American Express survey, 78 percent of consumers did not make an intended purchase or bailed on a transaction due to poor customer service. In turn, this will negatively impact future or recurring business.

After all, it takes 12 positive experiences to rectify the consequences of one unresolved issue. That is why you must begin to focus on the true impact of your customers' experience each and every time. This is particularly true regarding word-of-mouth in relation to your company's reputation.

3 Reasons Why Good Customer Service Is What You're Actually Selling

If you are serious about “making it” in the business world, you need to understand that good customer service is the actual product you're selling. Sure, you may be successful at first based on a quality product, but if you are not thinking about the big picture in terms of customer satisfaction, you will not thrive.

The following three reasons are something you need to consider, starting today.

1. Retaining an existing customer is far less expensive than gaining a new one

When it comes to your company's long-term success, YOU are the product, remember that. That is why when you acquire a new customer, you need to focus on your ongoing success instead of just a one-time sale. Since it costs approximately five times more to attract a new customer in comparison to retaining an existing customer, the logic behind good customer service is clear.

2. Offering great customer service will strengthen your brand

Poor customer service can kill your brand. In comparison, since customer service will be your primary communication channel, you can actively encourage a more positive perception of your company and overall brand. The key here is to invest in sustainable relationships.

Although many businesses communicate with their customers via email, it is important to offer a phone number as well. Some customers do not have access to a computer, and in many cases, customers appreciate speaking to an actual person in real-time.

3. Great customer service increases your ROI as you stand out from the crowd

By investing in good customer service, you will build a community of loyal customers that trust your brand. Taking that extra step will allow you to achieve a significant return-on-investment. Also, as you interact and get to know your customers, you can better predict their behaviors.

This is particularly true for companies that are selling a commodity in a crowded market. In addition to offering a quality product at a great price, you need to go above and beyond. This will help you identify your core differentiating factor as you increase customer satisfaction and, in turn, encourage growth.

So, invest in good customer service and always remember what Shep Hyken once said, "Consistently amazing customer service doesn't happen by accident. It happens on purpose!"

Give us a call at 518-616-3300 to find out how Fluent Voice can help you deliver a better customer service experience.