Businesses are potentially facing one of the toughest periods yet. With inflation rates, fuel costs and customers tightening their belts, the cost-of-living crisis is going to force many small and medium sized business owners to look at cost savings.
This week (3rd-7th October) marks National Customer Service Week, a celebration of service excellence, and UK Customer Experience (CX) expert, Jonathan Winchester of insight6, suggest this year could be one of the most rewarding for businesses that get it right.
To help business owners navigate the next 12 months, insight6 has produced a CX Business Pack that can be downloaded for free, giving them resources to boost employee morale and improve the customer experience to drive profitability.
The phrase ‘the customer is king’ is never truer than in a competitive market. Many businesses will instinctively focus on driving new business to protect their profits but ensuring that your existing customers are happy is arguably more important.
Jonathan Winchester, CX Director at insight6 explains: “It costs a business at least five times more to find a new customer than to keep an existing one so it is vital to make sure that you are not losing customers before you invest in finding new ones – otherwise you are just throwing money away further down the customer journey.”
Jonathan added: “When times are tough, businesses, like the rest of us, try to save money but a common mistake I see is businesses cutting back in the wrong areas. Trying to speed up processes or cutting out the small extra touches that set their business aside. This is the time to really invest in the things that your customers will value and remember you for. The time and effort you put into delivering them an experience.”
Business owners should use the week as an opportunity to consider their customers’ wants and needs and asses how their business can continue to meet, and exceed, their expectations during challenging financial times.
Of course, you cannot achieve a world-class service by focusing on your customer experience (CX) for one week. To embed change in your company, build loyalty and drive profitability, you need a robust customer experience strategy.
At insight6, we have developed and delivered some of the most advanced CX programmes. Our bespoke feedback tools, trained researchers and CX solutions have earned us a reputation as the partner of choice for many.
