How to Stop Your Customers from Leaving You
There is something to be said about good customer service; unfortunately this is a priority that has fallen to the wayside for several businesses. As Damon Richards has said, “your customer doesn’t care how much you know until they know how much you care.” Businesses are beginning to shift their focus to a customer-centric model, further emphasizing the importance of Customer Experience Management (CEM) to an organization. CEM is the practice of measuring and closing the gap between the expected customer interaction and the actual customer experience. To successfully implement this strategy, organizations need advanced technology to collect feedback across business channels, evaluate it and disperse internally, allowing teams to enhance their customer service offerings and expand their customer base.
Every one of us has played the role of the consumer. In these situations, many of us have experienced customer service that was either superb or disappointing. The connected landscape is continuously evolving at a rapid pace, enabling consumers to voice their opinions more than ever before. However, due to the extensive social channels in which consumers can share their experiences, businesses are often the last ones to “hear” this message. A bad review holds a substantial amount of weight and can pose a threat to a company’s brand and reputation, putting them at risk of losing customers to their competitors. Businesses must utilize this as a call to action and focus on the needs of their customers.
In order to successfully implement this, it is vital that businesses seek a CEM solution that provides employees at every level from frontline staff to C-level executives, a single, consistent view of their customers and empowers them to deliver consistently positive interactions. Armed with this information, companies will be able to focus on areas of concern and make simple modifications such as updates to training materials or adding additional resources. Offering frontline employees access to feedback related to their customer exchanges makes them accountable to the key part that they play in the company’s performance. Allowing them to own these responsibilities draws their attention to how a single interaction can “make or break” the customer’s experience, ultimately affecting the company. With access to survey results as they happen, employees can better gauge their interactions and are encouraged to make alterations as needed.
C-level executives can also benefit from customer insights. They will receive a cumulative data set, enabling them to perform a more in-depth analysis. From this data, they will be able to evaluate trends and key metrics to drive enhancements from the top level down to improve processes and customer satisfaction.
The telecom industry is ripe for improved customer experience. With countless customers relying on mobile phones, the telecommunications industry, by nature, depends strongly on customer interactions. In a field where offerings are relatively uniform, telcos could implement a CEM solution to distinguish customers at risk and develop procedures to help reduce churn and increase customer retention.
Making a Difference:
The demand for improved customer service does not fall short amongst the financial industry. By analyzing the metrics delivered by a CEM solution, financial institutions can pinpoint areas of improvement, thereby enhancing customer fulfillment and decreasing customer churn. A CEM program will also safeguard these institutions from the possibility of losing customers to other banks with better reputations.
The Future of CEM:
Instituting a CEM program and strategy has allowed organizations to witness immediate improvements in increased customer satisfaction and retention rates. Customer insight is indispensable to every decision employees make, from how they approach and interact with a customer, to how they allot their budget and train their team