Could You Survive If 25% Of Your Customers Left Tomorrow


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The crux of a business is the consumer and without a consumer there is not point of a business as there will be no sales and profit. But customers are so hard to decipher sometimes and it becomes hard for customer service representatives to understand their needs and cater to them. This is the reason why recent studies show that customer service is the number one way to impress, please and retain a customer.

 

Let us do a basic breakdown. As per studies, Of all the website visitors that leave, nearly 30% of your customers leave due to unpredictable reasons such as product dissatisfaction or competitors luring them away. While these might be factors that a company cannot do too much about, there still exists a large and looming percentage of 70%. These 70% consumers actually leave a site because of a lousy customer service.

 

So let’s answer the real question here, would you survive if 25% of your customers left tomorrow? The simple answer is a big fat NO.

 

Although, we could give it a consideration that the 25% could be from the unpredictable 30% that was bound to leave anyway. However, in reality this is far from the truth. When there is a sudden rush to a 25% exit or attrition rate, the chances of this being due to something as drastic as a faulty customer service skill or a bad shopping experience is more likely.

 

Why do customers leave?

 

There are multiple reasons as to why a consumer might leave your website for good. They could leave because they have never found a product that suits their taste, your price points are not perfect for them, the product quality does not match their requirement or they simply are unable to find what they are looking for. Another set of reasons could be that your competitor offers better prices or a better collection. Maybe your competitor offers extra discounts or free shipping and so on.

 

While all the above are not controllable to a large extent, most customers leave due to dissatisfaction on the customer service front. Many consumers who deal with rude or under confident customer service representatives, tend to leave due to the bad experience.

 

Not all is lost though, if the company is prepared to pick itself up and fix the changes.

 

How to make changes?

 

 

  • Improve communication: Crystal clear communication without beating around the bush, delivered fast, is the number one reason why customers come back to a portal. Speedy and efficient customer service is that magic wand that can fix the worst of attrition in a jiffy. Customers like being spoken to with clarity and value. While being informative, don’t forget to be nice, courteous, polite and caring. Consumers definitely do not want to talk to machines that cannot emote.
  • Exceed expectations: A consumer loves it when you deliver what is promised. Imagine what it would do to your customers when you exceed expectations? This is a simple and easy way to do so without necessarily utilising too many resources or money. How? Take a look at how Amazon compensates their errors by providing gift cards for small values. Some companies even send their loyal customers some percentage off or coupons to redeem while shopping next.
  • Make everything about them: Remember that good customer service skills are when you are able to empathise with your consumer and walk a mile in their shoes. While it might be a stretch to say that a consumer is always right, it is more or less the attitude you should have when dealing with a customer. Customer service should indeed prioritise the consumer and make it about them to make them feel special.
  • Incentivise referrals: While we are discussing incentives, a sure shot way of bringing home more traffic without necessarily investing money in it is by incentivising referrals. Ask your loyal customers to spread the word about you. A successful purchase with their referral code could fetch them a percentage off on their next purchase or some form of presents. This way, at a rather small amount, you are able to increase your sales!
  • Support your team: Your customer service representative have it hard already, be nice to them. Be their nice person, so they can be your customer’s nice person. A motivated and happy team is sure to deliver impeccable service and in the process increase your sales and trust.

 

 

Customer service is the number one way to ensure your customers remain for longer, come back for more and recommend you to many of their other friends and contacts. In today’s world where ads are dying a slow and steady death, it is indeed such instances that can improve your business and bring success and a steady and loyal pool of consumers.

 

 


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Vaishali Gopi