GoResponse Telephone Answering Service Staff

Profitability can hinge on consumer experience

Modern consumers expect a lot from companies, even brands they are not normally affiliated with. Every shopping trip or business interaction can strengthen or break a customer’s relationship with a firm, which is why the consumer experience has become so important. Call centres must realise that if they want to boost future profitability, they must turn their attention to improving customer journeys and overall experiences.

Phillip Reynolds, an expert in the telephone answering services industry, revealed that the typical business loses 10 per cent of its customers on an annual basis. This means that a consumer base steadily drops over time if nothing is done, leaving brands with no other option than to bring in new customers.

However, this can be as much as five more times as expensive as conducting repeat business. In fact, figures have shown that simply boosting customer retention by 2 per cent is equal to enjoying a 10 per cent cut in costs, so it really pays to hold onto existing fans. In addition, by focusing on improving customer experience, the lifetime value of each individual can be increased because these people are more likely to place repeat orders.

Overall, call centres and businesses that want to access potential profit within their current consumer base must take steps to improve the customer experience. This can turn people into fans and brand ambassadors, and it can help pave the way for increased income without the need to develop expensive strategies to entice new customers.

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