Importance of Customer Service Training

Customer Service Dividends:The direct correlation between market performance and customer loyalty.

A recent post on CNBC By the Numbers, identifies three stocks that have been on a recent upswing and their respective customer satisfaction rates.

• Delta announced that due to the realized importance of the call center, they are bringing back theirs back to the United States and enhancing its effectiveness.
  
• Hyundai‘s advantage plus program that pledges a guaranteed return for suddenly laid off customers.
  
• Starbucks put all of its energy into created new and better products in an attempt to add value to its customer experience and advance its competitive advantage.
  

The post continues to describe the findings of a study done by the Strativity Group, a management consulting firm. The results showed that over 70% of customers will spend 10% higher with businesses that exceed expectations over ones that did not.

The study also found that loyal customers are three times more likely than dissatisfied ones to maintain a business relationship in the future.

Lior Arussy, Stativity CEO, said “companies must stop the one size fits all cost cutting measures, as they reduce their customer loyalty in the process. It is time to accelerate investment in differentiating tough points and give customers reasons to stay. “

And giving them reason to stay means wowing them on a consistent basis, and not simply meeting, but far exceeding the expectations they have.

Bottom line- companies that become successful and remain profitable are ones that are constantly tuning to the current economic environment and more importantly to the specifics of what they’re customers want and are beginning to look to competitors to find.

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