No company says, “we are going to only do the bare minimum for the customer but we still expect to hit our profit margin” but yet, the behavior of some companies’ intentions seem to be just that.
Amazingly, 80% of companies report that they give excellent customer service but only 8% of consumers agree with them.
According to New Voice Media, businesses are losing $62 billion per year because of poor customer service; a $20 billion increase since 2013.
New Voice Media further states that only 12.2% of the Fortune 500 companies in 1955 were still on the list in 2014…88% of the companies have either merged, gone bankrupt or still exist but are not in the top Fortune 500. Now, there are a number of factors that contributed to those companies no longer being listed on the Fortune 500 list including giving less than stellar customer experiences.
There is a saying that has become a cliche, “think outside the box”. Thinking outside the box works when you pursue what is new or different from what other businesses offer. Apply that mindset to how you deliver customer experiences. Your originality will resonate with some consumers and perhaps not so much with others. But how will you know if you don’t make the effort?
Tremendous and amazing experiences keep clients coming back. They want to emotionally connect to businesses that they believe in and trust AND they will even pay a higher price when the right connection is made.
Let us know your thoughts. Feel free to give us feedback on the Contact Page at www.elite-customer.com.
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