8 Reasons Why Good Customer Service is the Ultimate Key to Success

Today’s market is highly competitive, and an entrepreneur has to do everything to stay on the surface. It is actually the survival of the fittest, every entrepreneur has to adapt to changes in the industry, and constantly do better to survive and thrive. One of the first thumb rules is to keep your customer satisfied at all times. Customer may not be always right, but to win this ruthless battle in the business filed of war, profits can be gained only if this importance of customer service is realized.

“The true test of a business’ customer service effort is not when things are going right, but rather what is done when things go wrong.” Let us go through some reasons as to why customer service is so important:

• A satisfied customer will keep buying from you, and also refer other people to you. It is far much better, financially to keep a customer than to obtain a new one – on an average it costs approximately seven times more.
• A customer who has already purchased from you before is more likely to buy from you again, than any new customer – the probabilities are just higher, about 50 percent higher.
• Word-of-mouth advertising has a great effect on your business. You like a product, you tell a friend about it, who tells another friend, and the word goes on. It is a sort of marketing of your product that happens on a secondary level. “Courteous treatment will make a customer a walking advertisement.” All of your customers are your partners in your business.
• A great customer service team is the backbone of your brand’s reputation. It helps you improve your brand image in the market.
• When you offer great service to your customers, you tend to hold them for a longer time – the retention period is longer.
• Employees, when they deliver excellent services to their customers and see their company rising, it instills a sense of pride in them, make them more willing to come to work every day.
• A company that treats its clients well is a company that everyone wants to associate with. Your cheerful, helpful image, can help you attract partners and opportunities for your business to expand on new horizons.
• The supply chain ends with the customer and the ultimate goal of all other parties is to satisfy that customer to the fullest. This conveys how passionate you are about your work and how strong your company values and cultures are.