The commercial battleground of tomorrow is digital, and the companies that make it will do so because they offer the best services.
In today’s global online economy, product and pricing are beginning to mean less and less. Your customers could easily find equivalent or better options elsewhere, and with a click of a mouse they move take their business. The only thing that sets you apart is what you have to offer in addition to your products– customer service.
New customers at the counter – old customers exiting from the back
SEO, click analysis, convincing shopping experience, the best prices, top-notch photos – all with one thing in mind: more customers, more transactions, greater turnover – but what about customer service and customer retention?
Do you recognize this distribution of a company´s customer relations budget? (Source: McKinsey)
- 55% spent on attracting new customers
- 33% spent on branding
- Just 12% spent on retaining existing business
But why exactly do customers take their business elsewhere? (Source: US Chamber of Commerce)
- 1% die
- 3% move
- 13% find other solutions or choose a competing provider
- 14% are unhappy with the services or products rendered
- 68% have been unhappy with their current provider’s treatment of them as customers
This is becoming apparent to most chief executives. The battle for customers over the “four Ps” is no longer relevant – customer service is the new black and an area that requires the attention from the CEO for a company to stay relevant in the marketplace of the future (Source: Shaw & Ivens).
- 85% of chief executives recognize that the traditional selling points
- 71% of chief executives consider customer experience and customer service “the next corporate battleground”
Your customers will stay with you if you treat them well, which is what etrack1 can help you do. Book your meeting here.