Don’t Lose Revenue to Bad Customer Service

It’s common knowledge that good customer service is good for business, but the degree to which this is true might surprise you. recently reported on a study by Magnetic North which estimated that UK businesses lose at least £234 billion each year because of bad customer service.

The survey stated that 92% of respondents had experienced bad customer service, and one in three have abandoned purchases because they couldn’t find the information they needed. This particular statistic applies more to businesses that are selling online, but it goes to show just how important it is to have positive interactions with your customers.

Even more interestingly, almost half of the customers surveyed said that they had switched their long-term allegiance because of poor customer service. Depending on the size of your business, even a single customer bailing on you could put a big dent in your revenue.

So what’s a business to do? The answer should be obvious: provide good customer service. But what does that mean? Zendesk did a survey a couple years ago, and they found that three things were important to customers:

* “The problem was resolved quickly”

* “The person who helped me was nice”

* “The problem was resolved in one interaction—no passing around to multiple people”

That’s all—that doesn’t seem so hard, does it? Solve problems quickly, be nice, and don’t pass a customer off to multiple people. It’s pretty simple.

Of course, just because it’s simple doesn’t mean it’s always easy. You need to have the tools required to solve the problem, the patience to work with people, and the ability to deal with different kinds of situations quickly. It may sound like it’s pretty easy, but when you have to deal with taxes, payroll, cashflow, and the other day-to-day parts of running a business, it can be forgotten.

Fortunately, the SmartTrade app and web dashboard can help you solve a number of problems, not only freeing up your time for customer service, but also helping you make sure that invoicing and payment are fast and easy, so your customers don’t need to get in touch with your customer service agent (who is, in all likelihood, you) to discuss a problem.

Good customer service is absolutely critical in running a successful business. Check out what SmartTrade can do to help you make every interaction with your customers a good one.

Download SmartTrade for iOS or Android for free and get started today!

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