5 Reasons to Prioritize Customer Service

For most businesses, attracting a new customer can be challenging. Not only are new customers hard to find, but it’s also an expensive effort — costing about 5X more than what you’ll spend to retain one. That’s why it’s critical to keep the ones you have, especially in today’s economy. And central to boosting loyalty is top-notch customer service.

Five Reasons to Deliver Good Service

By focusing on the customer experience, you’ll set your office up for success.

1. A Better Reputation. There’s something fundamental about good service: it tells the customer what a company thinks of them. When customers feel valued, they’re more likely to tell others about your business, whether in person or in online reviews.
2. Happier Employees. When customers are happy, employees are happy because it means less problems that they’ll have to deal with and they will feel a sense of pride knowing that their company is doing what’s right to treat customers well.
3. Repeat Business. Existing customers are more likely to buy from you. The probability of selling to an existing customer is 60 – 70%, while the probability of selling to a new prospect is 5 – 20%. In fact, 65% of a company’s business comes from existing customers.
4. Long-Term Buyers. By delivering great service consistently, customers will be more willing to accept when a potential problem arises because they’ve had a long history of positive experiences and won’t immediately end the relationship.
5. Valuable Insight. Loyal customers are typically more willing to share their feedback about your services, which may help you adapt your business strategy, identify needed improvements and be more responsive as their needs change.