One of the most important customer service trends in business today talks about customer momentum. No matter how you add up sales figures, revenue, sales per client or dollars per transaction, it all comes back to how current customers stay with your for the next sale.
Customer service expert Shep Hyken notes customer momentum deals with how you handle current customers rather than seeking new ones. More time, effort and energy should go towards maintaining good relations with customers you already have because these people tend to spend more next time and, even better, they tell their friends and associates about good experiences.
Further, it costs less money to keep current customers rather than market to new ones. Proactive sales strategies such as continued communication, anticipation of future needs and positive responses to feedback can all help keep customers coming back. A dialog with current clients moves customer momentum forward. Too often, a company spends tons of sales and marketing to bring in new customers, but then drops the ball when it comes to keeping customers happy. Reversing this trend increases profits over the long term.
Customer momentum happens when existing customers continue to have positive experiences with your company. This concept starts with front-line employees who deliver with happy, can-do attitudes to even the testiest of people. Solving problems marks another trait of good service. Even if someone's dilemma isn't solved right away, a staffer who handles an angry customer politely goes a long way to maintaining satisfaction.
Several hard data points, as compared to last year, indicate the health of your customer momentum. Examine revenue, average sale, number of transactions and customer purchasing frequency to figure your momentum. Does this trend upward or downward? Another way to look into this concept deals with surveys. Different types of surveys can find a customer satisfaction score or customer effort rating.
Other trends to look into can help build momentum in 2015. Social media, which has been viable for years, continues to grow thanks to Twitter, Facebook, Instagram and the like. Rebrand marketing as serving customers so your staff looks hard at how to maintain current customers rather than get new ones. Use videos to deliver information on issues that customers experience frequently. Videos, forums, easy-to-use websites and FAQ pages lend to self-service models wherein clients can find answers themselves without contacting the company. Customers also expect better service than before, so train your team to give knock-out service at any time.
Customer momentum symbolizes the only true sales trend you need to worry about, whether you have a small business or a Fortune 500 company. If you have trouble keeping current customers happy, you may need to rethink the way your company does business in order to survive.
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