Strong customer relationships stimulate sales, sustainability, and growth, especially in today’s economy. Companies that establish and maintain excellent customer and client relationships lead the pack, whereas those that don’t put clients first fall off the pace and, eventually, escape completely.
It is no mystery that customers are a company’s prominent asset, and it costs much less to maintain a current customer than it does to acquire a new one. But even though reliability improvements should be a priority, many businesses struggle to recover the vitality of their customer relationships, especially when they confuse customer satisfaction with faith.
Sure, customer satisfaction is essential, but to succeed long-term customer loyalty, businesses need to dig deeper and identify proven tactics for strengthening the health and depth of their business relationships.
Because of the vast number of options accessible in the online marketplace, eCommerce web stores are competing primarily on customer service thereby building a relationship with the customers. There are few basic expectations of the consumers from eCommerce business store owners.
Speed and Simpler Purchase path
eCommerce consumers expect instant access and a quicker purchase process. They are not in the habit of setting for long. So, in case the website for your online store takes time to load, they become frustrated and refuse to follow the complex purchase path. As a result of which customers tends to switch to the competitor’s online store to satisfy their appropriate need.
Online customers rely on self-service preferably than an email, or a telephonic support. The product listing and their respective description in any e-commerce website should be content rich giving all the necessary knowledge to your customers. A broad range of comprehensive knowledge about the products including their photos, shapes, sizes, prices, discounts, warranty, etc. Should be adequate to help customers to find answers to their inquiries themselves.
Consumers today make a purchase from anywhere, anytime and from any device. With the rising use of smartphones, customers are making a purchase from their mobile devices. Therefore they expect their mobile shopping experience to be user-friendly. As a result of which e-commerce online stores require working on the content of the mobile websites because heavy text based mobile sites takes time to load and make the consumer frustrated.
Credibility and visually appealing
Customers expect the online websites for an e-commerce store to be aesthetically appealing and trustworthy. They want their e-commerce websites to ensure the security of their private information like credit card information or the mailing address.
Consumers expect that your online web-store has a large variety of product variations such as different sizes, models, colors available which will help them making their purchase decision. Their in-stock inventory should be strong to satisfy the need of any particular customer.
Customers also expect a Search function or a suggest feature available to help them search in the large product catalog. eCommerce agencies that continuously optimize the customer service strategy to make things easier for customers and build customer loyalty will be able to find success in todayâ€™s competitive marketplace.
Why Relationships Matter?
A definite correlation exists between the quality and length of customer relationships. Essentially, the powerful the relationship, the longer the customer will continue to do business with you.
Creating Effective Customer Relationships: The push for stronger and healthier customer relationships requires starting now. Regardless of your industry, here are five tips meriting considering as you formulate a strategy for advancing the quality of your customer relationships.
1. Engage customers :
Successful connections are a two-way street. Loyal customers and clients want to be actively endowed in the relationship. If you notice that a customer is restricting his or her involvement with you, it could be a sign that the relationship is on shaky ground. For example, if you find that specific clients often cancel calls or do not reply to your emails, that may be an indication they are limiting the time they spend because they are seeming to take their business elsewhere.
To increase engagement, empower customers by inviting them to partner with your company in the method of generating new ideas and initiatives. Are they preparing to enter a new market or launch a new product? Ask for their evaluation and find out their short and long-term goals. When you conscript a game plan, keep them in mind. Plan a brainstorm session; doing so will help develop rapport and also give you an exclusive look at how they operate.
2. Become the first call :
Ideally, customers should observe your company as a Trusted Adviser, which means that you are the leading person they call when they pursue a new line of the company or begin a new project, or if they require help. To become a Trusted Adviser, consider advising assistance before the customer asks, as a way to express your commitment to the relationship. By getting committed early in the process, you bring added value to the link and gain access to supplementary selling opportunities. Regularly giving them industry news and updates will also help to position you as an expert and also demonstrate that they are top of mind.
3. Solicit feedback
In addition to offering valuable and relevant information, regularly solicit feedback and input from customers. In several cases, insight from general feedback develops relationships by highlighting problems that survived below the surface and also because you’ll be communicating that you are prepared to go the extra mile to make sure you’re meeting their requirements. Feedback may also expose ways in which the relationship can be extended to include a greater range of products or services. If you’re serious about developing your customer relationships, implementing a routine feedback system is a great way to hold tabs on your customers’ wants and needs, which are likely to replace from time to time.
4. Think individuals, not numbers
Customers aren’t homogenous. Rather, every account has its different requirements and preferences.
If 80% of your company’s customers are satisfied, you’d probably reflect that a home run. However, what would happen if the 20% of unhappy customers account for the extent of your revenue?
Although it’s tempting to make sweeping generalizations based on aggregated feedback, the best client relationships are created when you tailor your strategy to the expressed needs of each customer. If one of your comprehensive accounts doesn’t get a new billing process, you need to discover a better way to communicate your system. Over time, it could transform into a more serious problem than you expect.
5. Maintain open communication channels
Healthy relationships grow on communication. If your business communicates with clients only at their demand or when your company requires something, it will be hard to leverage relationships as a driver of sales. Instead, touch base regularly with customers to inquire about their progress and to learn how you sway be better able to meet their needs and expectations.
Communication is a key component in healthy client relationships. Satisfied customers are active participants who voluntarily offer the time and information it takes for you to produce the valid results.
Youâ€™ve heard it time and time again. Itâ€™s inexpensive to get past customers to buy again than it is to find new customers. This is true for most businesses, particularly in the crowded online e-commerce arena where ad impressions, clicks, and conversions always seem to be increasing in cost, making new customers more and more expensive to acquire.
Knowing that it’s cheaper to get a current customer to purchase from you again, ask yourself, when was the last time you truly made an effort to re-engage your current customers to get them to come back?
Benefits of customer retention program:
There are numerous benefits to reselling to previous customers versus obtaining new ones. First and foremost, as mentioned in the intro, it usually costs less. That alone is reason enough to spend more time focusing on your current customers, however, there are additional benefits as well.
Customer profitability rates tends to increase over the life of a retained customer and a two percent increase in customer retention has the same effect on profits as cutting costs by ten percent. Finally, the more times a customer purchases from you, the stronger your relationship becomes. Itâ€™s these strong relationships that cause customers to champion your products and services, effectively creating powerful referrals and word-of-mouth marketing that will help drive new customers.