4 Incredible Facts About the Benefits of a Happy Customer
Having a high-quality product to sell is no longer the royal road to success in business. Consumers are increasingly choosing an outstanding customer experience over quality products alone.
In a Gartner study, 64 percent of consumers find customer service to be more significant than price when making a purchasing decision.
For this reason, it is important to offer your customers the best possible experience when they interact with your brand. Satisfied and happy customers hold strategic benefits for your business. More so, if your brand focuses on making customers feel special, they (customers) are highly likely to be loyal to and supportive of your business.
That said, here are 4 fact-based benefits of a happy customer.
Acquiring a new customer is five to 25 times more expensive than keeping an existing one, according to Harvard Business Review. This means that you will spend way less money on maintain a customer than on get a new one. Interestingly, a 5 percent increase in customer retention increases profits by 25 percent to 95 percent!
What is the secret, you might ask. Make your customer happy!
I know you’re wondering how that turns to profit, but American Express reports that seven out of 10 U.S. consumers spend more money to do business with a company that delivers excellent service.
You see, there is no substitute for making your customers feel special in business. The value you place on your customers is directly proportional to the growth of your business. Your business is like a car; your customers are the engine. To move the car, you need gasoline. Gasoline is the happiness that powers the engine of your business to run effectively.
Make your consumers feel unappreciated and watch your revenue tank.
Positive Word of Mouth
One happy customer will potentially tell nine others about your business. Do you care to know what one unhappy customer will do? One unhappy customer will likely tell 16 others about how bad your service is!
That is not the worst. Ruby Newell-Legner revealed that it takes 12 positive experiences to make up for ONE unresolved negative experience.
How do you deal with sensitive customers in your business?
The same way positive word of mouth from happy customers can scale your business. Sensitive customers with negative experiences can downgrade your brand. Dealing with sensitive customers ought to be top of your customer service priority.
Because 96 percent of unhappy customers do not complain; Ninety-one percent of them will turn their backs for good, based on findings from 1st Financial Training Service. Therefore, be on the lookout for customers likely to be dissatisfied with your service and keep your feedback loop open with innovative technologies.
Consumer Brand Loyalty
Engaged and happy customers buy 50% more frequently, spend 200% more each year, and are five times more likely to display brand loyalty, Rosetta reports. Loyal customers, on average, are worth up to 10 times as much as their first purchase, says White House Office of Consumer Affairs.
Loyal customers are everything to your business. They are the 20 percent that patronizes 80 percent of your products. They are willing to pay more and are less prone to shift to your competitor.
One way to ensure consumer loyalty is making your customers feel special, effectively dealing with sensitive customers, and guaranteeing a consumer experience that hinges on direct communication, excellent feedback, and consistent product quality.
Slaask has exceptional features that let you easily interact with your customers and convert them to loyal customers.
Unhappy and unsatisfactorily serviced customers are four times more likely to defect to the competitor, according to Bain and Company. Happy customers give you a competitive advantage that consolidates your position in the market.
A little gap between your business and your customers leaves room for competitors to invade your position and poach your consumers. A platform like Slaask allows you to remain above your competitor by taking advantage of its innovative features that are used to maintain productive contacts and interactions with consumers and leads. Some of these innovation features include Easy integration with other apps (Stripe, Segment, Pipedrive), book meetings, easily identify your contacts’ device and a host of others.
Happy Customers Result in Successful Businesses
It is easier to keep your customers than it is to win new ones. Customers are the life-blood of your business, and unmatched customer service is what makes them keep coming back to you. You can’t afford to joke with your customers. That is why Slaask has features uniquely tailored to the needs and aspiration of your business. You need the platform to convert your leads to customers and retain them with bespoke communication channels.