We all know the key to happy customers is solid, quality customer service. After all, isn’t this what most major companies have been championing for years?
A good customer service team (and as a result, a good experience with your organization), is great for your customers. However, this only works if they want to contact you.
A challenge for most companies is that we aren’t necessarily in contact with all customers. Many businesses are missing out on talking to a large number of clients who are happy with how everything is going, and don’t have any reason to contact you.
Take a few moments to think about how many customers never contact you, you never hear from them and in turn you never contact them. How many of these people end up leaving after years of sticking with you? How many of them actively refer you onto their family and friends?
Without contact, you are leaving your customers disengaged. Disengaged customers will end up costing your business money in the long run. It’s a silent problem, but a problem nonetheless.
How important is customer engagement?
The short answer is “very important”. Customer engagement is important for driving revenue, it improves customer retention and it allows you to acquire new customers for a lower cost.
In layman’s terms, customer engagement means more money for less cost. As a business, isn’t this something we all want?
But my customers are happy even if I don’t speak to them
According to research by MMResearch – loyal customers don’t quit, but satisfied customers do. Your customer may be happy, but the chances are they are not loyal.
If a customer is not loyal and another business comes along with what seems to be a better deal, they will jump ship. Think about the number of Financial Advisors and Planners losing business to robo-advisors. If their customers were truly loyal and satisfied with the service they were receiving, they wouldn’t leave in the first place.
Customer engagement – Not as expensive as you might think
Yes, customer engagement can be expensive if you try to do everything yourself. However, in the globalised world we now live in there are so many services out there which plug into your own business and help you engage with the customer in a way you never have before.
According to Salesforce research 55% of customers would pay more for a better service experience.
Your clients are willing to pay more for the pleasure of speaking with you more. People want to be engaged, it’s up to you to provide the conversation starter.
Although I have written about it before, the client experience is the key to success; customer engagement is an extension of this experience, and it is here to stay. It’s time to either “get on board” or lose customers as they move to your competition.
Customer engagement is no longer a nice to have, it is now a mandatory cost of doing business, if one wishes to stay competitive.