How to unlock the benefits of customer service-led growth

How to unlock the benefits of customer service-led growth

With more people buying online than ever before, customer service is now a key differentiator in the eyes of customers and companies alike. Customers expect service to be quick, easy, and effective, and they are willing to look elsewhere if they do not get it. In fact, more than 60 per cent report that they now have higher customer service standards after the past year’s crisis. It is a trend likely to continue, with 73 per cent of business leaders reporting a direct link between their customer service and business performance.

It is a high-stakes game—61 per cent of customers would now defect to a competitor after just one bad experience. That is a 22-per cent jump from the previous year. Make it two negative experiences, and 76 per cent of customers are out the door. As the saying goes: no risk, no reward. For companies that succeed at wowing customers, the opportunities for growth are immense. Not only will they lay claim to the growing number of customers that shop with a service-first mindset, but they will also have a real shot at expanding, retaining, and deepening their customer base:

• What challenges do companies face concerning customer engagement and service?
• How has the role of a customer service agent changed in the face of new business realities?
• What strategies and technologies are shaping the future of the industry, particularly its growth?