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Excellent Customer Support Clearly Leads to Higher Revenue Opportunities

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Excellent Customer Support Clearly Leads to Higher Revenue Opportunities

October 02, 2014

  By Ed Silverstein, TMCnet Contributor

Positive customer experiences with a company are not just a nice thing to have because it leaves the consumer feeling happy. It impacts the bottom line in a big way—which is why customer support software that ensures a quality experience is so important.

In fact, one recent Harvard Business Review report actually says, “Customer experience is a major driver of future revenue.” For instance, consider that customers who have a “great experience” with a company will spend a whopping 140 percent more than those customers who suffered through a poor experience, according to the report.

“No matter how you decide to quantify it, there is value in providing an exceptional customer experience,” a blog post from Robert C. Johnson, TeamSupport CEO, further explained.

Peter Kriss, a senior research scientist at Medallia and director of Research for Vision Prize, detailed in the Harvard Business Review (HBR) blog post entitled, “The Value of Customer Experience, Quantified,” that customers are more likely to stay with a business that gives them an experience that meets and exceeds expectations.

A bad customer experience leads to lost revenue opportunities and other drawbacks besides losing just one customer. These include “more calls to customer support, returned products, negative word-of-mouth,” Johnson said.

“Delivering great experiences actually reduces the cost to serve customers from what it was previously,” Kriss explained on the Harvard Business Review website. “Unhappy customers are expensive — being, for example, more likely to return products or more likely to require support. Systematically solve the source of dissatisfaction, you don’t just make them more likely to return — you reduce the amount they cost you to serve.”

In addition, by improving the customer experience, Sprint (News - Alert), for instance, says it has lowered customer care costs by as much as 33 percent, according to the HBR article.

Given the importance of customer support to a business or other organization, Johnson suggests that companies invest in customer support software that provides a better customer experience.

“When a customer calls and every interaction they’ve ever had with your company is at the fingertips of the agent, it’s much easier for your customer support team to address their needs,” Johnson said in the blog post. “This makes for both a happy customer and a happy agent.” Specifically, he recommends customer support software that gathers all customer information – that is found on customer tickets and on diverse channels – into one place. It should be easily accessible, and it should include information from sales, management and customer support employees.

“When they have a common place to share and manage that knowledge, your departments can collaborate to offer a level of service never before possible,” Johnson says.

Edited by Alisen Downey
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