Anyone who has ever worked in retail is familiar with the term “loss leader”. Basically, you offer a sale or promotion that you’re going to lose money on, with the idea that it will bring people into your place of business and they’ll spend more money on other items. A movie theater can offer 2-1 tickets because they know you’re going to spend $30 on popcorn and candy.
For many businesses, call centers, and customer care in
But that’s short-sighted. Call centers and customer care can increase business and generate new revenue. It isn’t a loss-leader department. It’s a genuine leader in your business plan.
For the next few weeks, we’ll be looking at home customer care can decrease loss and generate new revenue streams, making it an incredibly cost-effective way to build your business and promote your organization. These lessons can apply for in-house customer
We live in an era where the customer rules. It’s time to use that to your advantage.
5 Ways Great Customer Care Increases Revenue
There’s a saying that goes “Practice doesn’t make perfect. Perfect practice makes perfect.” Honestly, it’s kind of a silly saying. How can you have
It does this in 5 ways, all of which we’ll be exploring over the next couple of weeks.
Great Customer Care Saves Money on Turnover
Think back to your worst job. How long did you stay at it? How happy were you at it? More to the point, how motivated were you to do your best work? Probably not as motivated as you were at your best job, where you did good and did well at the same time. You probably wanted to stay (and hopefully are there now!).
This is not an ideal employee attitude
That’s rare in the world of customer care, and industry plagued by turnover. That’s because the job is tough, and because companies treat it as a loss-leader, there is usually poor training and worse motivation. That costs money! It can cost $6000 to replace an employee. That’s a sure way to lose money.
But if the training is good, and the employees are treated well, and understand their role on the team (and, indeed, feel like part of a team), you can reduce employee dissatisfaction. If they are actually helping customers instead of
Great Customer Care Decreases Customer Dissatisfaction
Bad news travels around the world twice while
When they get mad, they go elsewhere.
When they go elsewhere, you lose revenue.
That’s what great customer service prevents. Whether that is keeping people in the sales/marketing funnel or getting them to re-up your service, customer care maintains the positive relationships you need to move forward. You don’t want to lose anyone in the labyrinth of their buyer’s journey.
Great Customer Care Creates New Customers Through Word of Mouth
That part about bad news traveling faster than good news? It’s true...but that doesn’t mean good news stays at home. Good news travels as well. People talk about great experiences they have interacting with companies and brands. They tweet about it, put it on their IG, and put it on their wall. They talk about it with friends and families.
Do they post and talk about good experiences as much as bad ones? No. But that just means that when something is good enough to post about, people pay attention. It’s rare. That’s what a great customer care experience is. It’s a unicorn.
People will talk about it, and others will pay attention. And that’s the first step toward them becoming your customer. Great customer care deputizes people into becoming your brand evangelists. It’s free
Great Customer Care Increases Revenue Through Upsells
Here’s a pop quiz. Who are you more likely to buy from? Someone who is nice to you, or rude to you? Someone you trust, or someone you don’t?
Do you need more time?
It’s a no-brainer. And what is true for you is true for everyone. If your customer care team is well-trained, can answer questions, solve problems, and steer customer and potential customers to where they need to go, they establish trust. And trust begets a good relationship. And so when the customer care representative brings up new products and services, they are coming from a position as trusted interlocutor. That makes sales more likely.
That generates real revenue.
Great Customer Care Creates True Customer Loyalty
What do you want out of any given customer? Loyalty. A lifelong relationship. A mutually-beneficial partnership that helps their team while creating continual revenue sources for yours. An invitation to their wedding.
OK, maybe not always that. It depends on if it is an open bar or not. But you want the other things. You want them to trust you and keep doing business with you. And for the most part, the person who leads that effort is your customer care team. For most customers, they are the primary point of contact
So you want them trained. You want them motivated. You want them as part of the team. That’s where having a third-party customer care vendor who acts as a true partner comes in. You can focus on your core business, and work with a team whose goal is to promote your interests, and whose success depends on helping you.
That’s what great customer care does. It advances every goal of your company. It isn’t a loss-leader. It’s the heart of today’s business.
RDI-Connect is your full-service call center and customer care partner. We combine cutting-edge technology with superior hiring and training procedures to give your organization the support it needs. Your success is ours. To learn more about how we can partner with you, please connect with us today.
RDI Corporation was founded in 1978 and is headquartered in Blue Ash, Ohio. We provide precise business solutions through a fully integrated outsourcing model and our clients ranged from mid-sized corporations to distinguished Fortune 500 companies.