The Link Between Customer Service and Generating Revenue
Do you want your organisation to drive more revenue?
There are many ways businesses can increase revenue; you could launch a new product or service to appeal to a new target audience, or decrease your prices in hopes of increasing sales.
But what if you could increase your revenue just by improving your customers’ experiences?
Why Do Some Organisations Earn More Than Others?
Put simply, your customers’ experiences heavily influence how much revenue your organisation generates.
“All the money you will ever make in the future is at this moment in the hands of someone else”
The secret to succeeding in business is knowing exactly how to get customers to spend their money on your products or services again and again.
So how do we achieve this? By providing value through outstanding customer experiences.
Customers will not just easily hand over their money – it needs to be earned.
The key to earning revenue and ensuring repeat business is to show your customers that they matter and by providing products and services that no one else can, or in a way that no one else can.
For example, two businesses may both sell the exact same furniture at the exact same price but if one business has fantastic customer service and a flexible returns policy to make returns simpler for their customers but the other doesn’t, the business that shows their customers that they are valued will be much more successful than the other.
“We, as individuals or businesses, will only ever earn what we are worth.”
So if we want to increase our income or revenue, we need to increase our value.
How Can You Increase Your Organisation’s Value?
In order to increase our value, we must change for the better.
“It is not an act of intellect that makes people change themselves for the better, not a matter of insight, but an act of the will”
Improvement doesn’t happen by itself, we must actively work towards it in every aspect of our business, from start to finish of the buyer’s journey.
Put simply, if we want to improve our customers’ experiences, we must improve our customer service by upskilling our staff to ensure that they can provide the best customer experiences possible.
Proving the Value of Outstanding Customer Experiences
Blake Morgan, Senior Contributor at Forbes, collated 50 statistics that prove the value of customer experiences, including:
- 84% of companies that work to improve their customer experience report an increase in their revenue.
- 96% of customers say customer service is important in their choice of loyalty to a brand.
- Customer-centric companies are 60% more profitable than companies that don’t focus on customers.
The statistics speak for themselves – focusing on providing outstanding customer service to improve customer experiences is integral in driving revenue and increasing profitability.
How Can You Implement This In Your Organisation?
“Organisations accomplish no more than what they set out to accomplish”
If you want to achieve great success and generate more revenue, it is essential to craft a comprehensive customer service development strategy and then put that strategy into action.
If you’re looking for a customer service training programme to upskill your employees, please click here.
“If the plan toward which you are working does not keep you interested and fill you with excitement at the prospect of accomplishment, your plan is probably too small.”