3 Reasons For Developing Customer Trust
Drew Stevens
Financial Advisor | Retirement Educator | Author of "Understanding Social Security - How to Optimize Your Retirement Benefit" | 40+ Years in Financial Services
We are in a service-based economy and it is always surprising to see the lack of professionalism from certain vendors. These are not the times to avoid the most precious asset to any business- the customer After all; the purpose for being in business is the acquisition and retention of customers.
It is fairly ironic that in many conversations, organizations typically have a similar excuse for not being attentive to customer service – 1) lack of time, 2) lack of focus, and three 3) a lack of knowledge. However, dismissing the issue only develops mistrust and misunderstanding. If you are in business and you want to develop a successful business you absolutely must be focused on customer expectations and service.
Two things crucial to your business. First, customers own the brand. Second, customer service is part of marketing. Marketing is that process that develops trust and respect for the brand. Marketing it the process that develops relationships and this is exactly what customer seek.
Consumers today are most specifically concerned about value and trust. With many parties to choose from and access to websites it is hard to distinguish one vendor from another. The key differentiator today is customer service.
Consumers want to ensure that they are treated right from the moment that they are serviced. This requires that organizations develop a customer culture. This means that everyone from the front desk to the executive suite In fact, what customers really expect to be that they are treated as the purpose of business and not an interruption of it.
When working with customers there three questions I am always asked. Here are some replies to assist you and your business.
1) What can businesses do to build customer trust?
89% of successful business believe in the Drucker quote that the “purpose of business is the customer”. In other words, the strategic intent is creating products, hiring people and implementing a strategic plan focused on customer expectations. Examples are SAS Institute and Zappos. Every single contact your organization has with its customers either cultivates or corrodes your relationship. That includes every letter you send, every ad you run, and every phone call you make. This includes contact from the first-person to the senior officer.
2) What are common mistakes that cause businesses to lose customer trust?
There are several items but a few that create mistrust are a) poor quality in packaging, shipping or servicing. When packages arrive damaged and when customers desire replacements and companies negate this looses trust. Secondly, in the age of social media 97% customers are conducting research before they buy or when they have issues. When companies negate reviews or never reply to comments on review sites it worries clients. When you make your customers a part of the business and create partnerships there is a better relationship and more trust. As the trust builds they tell others of your honesty helping to create more business for you and less attrition in the customer ranks.
3)How can brands measure customer trust?
First customers own the brand. Examples include Samsung, Microsoft and Apple. Any time changes occur without customer input expect customers to tell you such as what happened to the Gap when they attempted to alter their logo years ago. Methods to determine trust and respect include but are not limited to NetPromoter Score, Customer Churn, EBITDA and Top line Revenue. Additionally, mystery shopping would help to determine where are the gaps in servicing customers well and servicing them poorly
Ironically customer service is part of every organization, product, and service including every industry-even government. Yes yours truly has even been sent the United States Postal Service to aid in their customer service efforts. As much as selling effects every organization; customer service has an even more profound impact. Unfortunately many organizations are chastised and condemned for poor customer service. Yet with every bad story there are also numerous grand stories.
The simplest thing about customer service is that if you treat customers with professionalism and empathy they will continually return. Moreover they will tell others. Customer service is the key to your marketing and profitability success factors. It lowers attrition in organization and it heightens productivity. There are no secrets or secret decoder rings to handling customer's right. Loyalty cannot occur unless there is proper customer service. Service must be culturally embedded in the organization. It must be the walk and talk of your company and it must be the reasons why it exists.
#sales, #marketing #customerservice #leadership #entrepreneurhip #businesssuccess #drewstevens #lending #insurance #lifeinsurance #debt #creditinsurance
President - Retained Search
4 年Drew really gets it!!!