Why Customer Satisfaction Today Determines Revenue Tomorrow

Why Customer Satisfaction Today Determines Revenue Tomorrow
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Customer Satisfaction Today – How Your Brand is Perceived
In a recent research report about customer satisfaction today:

  • 92% of consumers form their image of a company based upon their experience using that company’s contact center.
  • 91% of dissatisfied customers never purchase goods or services from that company again
  • 80% of call center executives’ first concern is customer satisfaction and retention.

The Importance of Customer Loyalty and Customer Satisfaction Today
While these percentages may seem high at first blush, they accurately represent the importance and impact of customer loyalty.  As more and more consumers choose to do business via phone, chat, and websites, it seems the days of “seeing” your customer, in order to get to know them, are waning.

Greater Competition for Customer Loyalty
With more companies competing for limited dollars with decreased margins, how your customers perceive you and your relationship with them is even more critical to your call center’s value and your company’s bottom line.

A Pivotal Time In The Contact Center’s Evolution and Value
More and more, we hear about how the call center is crucial to an organization’s overall go-to-market customer service strategy. More and more, we observe how the contact center is becoming the hub of marketing intelligence. More and more, we know that the contact center touches incrementally more customers than traditional face-to-face outlets.

Contact Centers of the Past
Historically, the contact center has been used to drive down the cost of sale and to aggressively gain operational efficiencies. While these goals still remain today, we must understand that the actions that we take today will greatly impact customer loyalty, revenue, and margins. So while efficiencies and cost containment is important, smart contact center leaders also ensure that efficiencies do not negatively impact customer service, retention or loyalty.

Contact Centers Today
Today, contact centers have a golden opportunity to retain and delight those customers who may be at risk of defecting while further cementing the bonds between your company and your loyal customer base. Your actions today greatly impact where future discretionary dollars will be spent. This is true in a tough economy and it will be more applicable once the economy rebounds.

Customers Are Taking Note
Customers notice which companies “know who they are.” Customers form different bonds with companies who can express valuable knowledge and information through each interaction, be it voice, chat, or email. Each experience determines a customer’s current AND future value to the organization.

Three Types of Customer Satisfaction Today
At any given time, there are 3 types of customers:

  1. Dissatisfied Customers – Looking for another company to provide the service or product
  2. Satisfied Customers – Open to the next better opportunity
  3. Loyal Customers – Returns despite offers by the competition and gives you first “dibs” on their wallet.

The Bottom Line
Your goal is to have a proven game plan to retain and expand loyal customers, bridge the gap between satisfied customers and loyal customers, and mitigate the fallout from dissatisfied customers (especially with social networks which have broadened the disgruntled voice).

To learn more about customer satisfaction today to drive more profitable revenue, download 3 Must Have Steps to Convert Customer Loyalty into Customer Revenue

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