Customer Experience and value of client Retention

Everyone knows  that customer retention is highly cost efficient compared to new client acquisition still companies end up overlooking basic concepts through which they can convert customers to promoters. Promoters through word of mouth marketing can do for companies more than millions spent on marketing budgets.

Customer experiences or interacts with your company through:
1. Product/Offering – product and service characteristics and how your customers use or experience them
2. Brand – Through advertisement, marketing campaigns etc
3. Touch points – such as sale store, customer service, social media etc

Based on experience through above interaction points, either customer will convert into a promoter or detractor. Importance of above factors varies from industry to industry, for example offering is more important for Apple however brand is more critical for Marlboro while touch point is most important for service sector such as in banking industry.

Human Factor

Though customer will always weigh best possible options in the market before making any purchase but given few choices customer may decide to go with company with presentable product that offers excellent customer service compared to one that offers excellent products but not so great service. Human beings like to be given importance and value trust and honesty shown by a company that offers better customer service.

How to convert clients into promoter?

• Inbuilt ‘Customer Satisfaction’ in company’s and employee DNA

• Design experience for customer that cannot be imitated quickly by competition. Weave your service around this concept

• “Make them feel valued”, “Make them feel important”, “Share their values” – In brief listen to customers and respond to their feedback