BENEFITS OF EXCEPTIONAL CUSTOMER SERVICE

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BENEFITS OF EXCEPTIONAL CUSTOMER SERVICE

So much has been said about the impact of quality
customer service on organisational performance. Customer satisfaction is
generally accepted as one of the main strategies that help companies gain
competitive advantage over their rivals.
Customers are attracted to organisations that
render exceptional customer service the way bees are attracted to flowers.
Everybody loves to be treated well – with respect and courtesy. Everybody loves
to feel welcome particularly in a strange and new environment. Everybody loves
a warm and friendly atmosphere to conduct business. As the ancient Egyptian
proverb goes: “Better a warm welcome than
being invited to lunch”.
BENEFITS OF EXCEPTIONAL CUSTOMER SERVICE
The following benefits accrue to customer focused
companies:
Customer
satisfaction
Exceptional customer service leads to customer
satisfaction. Behavioural psychology states that just like dissatisfied
customers share their bad experiences with anyone who cares to listen,
satisfied customers inadvertently become unpaid advert agents for their bank.
They listen to the frustrations of friends and family and then prescribe their
own bank as a trusted solution provider to these people. And when a company
remains firmly true to its exceptional customer service philosophy, these
referrals find that what they had heard is indeed accurate and they get hooked right
from their first experience.
Increased
customer patronage
Satisfied customers help the bank attract more
customers. Once a bank gains the reputation of being a warm, friendly and
organised provider of financial services, the bank’s next challenge will be how
to manage the increased customer traffic.
Increased
business volume and revenue
Customers do not just bring deposits to banks. They
also bring business ideas worth a fortune! They have business ideas that may
require additional finance or in some cases financial expertise on the part of
the bank, which translates into increased revenues and growth for the bank.
Poor customer service on the other hand scares
customers away. Dissatisfied customers do not just walk away; business and
revenue opportunities walk away with them. A survey showed that 61% of
customers that leave take their business to competitors. The same the survey
also showed that 71% of customers, who end their relationship with existing
organisations, do so because of poor customer service.
By Olawale Hamed

12 COMMENTS

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