Understanding the needs of consumers is crucial to business success. Multiple studies reveal that improving this aspect delivers good returns on investment. According to McKinsey estimates, businesses that offer exceptional customer service can exceed the gross margins of their rivals by 26%. For many consumers, not only product quality matters the most, but also the experience. That said, many switch brands because of poor customer experience. Therefore, consider focusing on these five things that customers value the most.
Major companies like Apple and Amazon have transformed customer expectations in many ways when it comes to convenience. Customers want to interact with businesses at a convenient time and place, and 83% complain that dealing with a brand that makes it challenging to do business with them is frustrating. Therefore, you need to ensure your company channels are not siloed so that buyers can easily meander through them. With convenience playing a major role in how potential buyers evaluate and choose a brand, you cannot afford not to please consumers.
2. Affordable prices
Many customers want to buy goods and services at affordable prices. One way to make your business financially attractive to buyers is to offer discounts. Lowering the prices of items that don’t sell well can make them attractive to customers on limited budgets. Such a strategy can also help bring more business to a store.
3. Seamless payment
Customers may not appreciate it if you provide complicated methods of payment. Remember that customers don’t shop from one company, and many experience efficient and quick payment in other stores. That means they will not be happy if they have to go through a long process to make a payment. Consider implementing the most practical online and offline methods of payment for your consumers. Partnering with a reliable company such as this credit card processing company is a great way to speed up transactions. Putting in every effort to impress customers with your payment experience is highly useful but requires a sound knowledge of how clients feel at every stage of their journey. Delivering a compelling shopping experience is one of the best ways to maximize customer retention and grow lifetime values.
4. Efficient customer service
Every customer wants efficient customer service. They don’t want to spend longer hours talking to support agents who can’t solve their problems. Therefore, deliver efficient customer solutions service. It would be best if you could guide your customers to achieve their desired outcomes as part of the initial interaction. Failing to do this can cause customer satisfaction to drop significantly for every call relating to the same issue. The good news is that you can remove customer pain points with the right technology. For instance, providing your agents with tools that help avoid traditional issues plaguing telephony channels can boost customer experience.
5. High-quality products
Businesses should focus on producing high-quality products as customers value good things. A high-quality item won’t break easily since it is built to fulfill customer requirements. Furthermore, you may want to provide a warranty on products to assure customers that your business is willing to replace malfunctioning items.