10th Feb 2017CIO
Article written by Linda Roper, Marketing Manager at Wolfestone
Customer experience – the interaction between a customer and your company – is important to any company, no matter the size. It can be built face-to-face, with a customer visiting a local shop; it can also be established online with a customer browsing a website or it can be developed over the phone. The challenge for businesses is to make sure that customers’ expectations are fulfilled at every “touchpoint”.
Customer experience in a new technology-driven environment
In the opinion of Chris Severn, author at the Customer Experience Company, technical and digital trends are constantly changing customer expectations. Customers in the current digital age expect that the products and services they purchase from a company will make their life easier. They’re also expecting a company to anticipate their needs and deliver the requested results quickly. The challenge for any company in the information age is not only to satisfy new, technology-driven values, but to maintain the same basic human values that customers expect. Values such as wanting a company to keep their word, to provide good value and to show respect. Needless to say, meeting all customers’ needs can be a challenge, but research has proven a direct link between customer satisfaction and actual revenue. So why is it financially so important to keep your customers satisfied?
How company revenue and customer satisfaction are interlinked
Philip Kotler, the world’s leading marketing guru, lists the following financial benefits a company gains from keeping their customers satisfied:
Satisfied customers tend to buy the same product again, and quite often turn into loyal customers, which in turn can lead to higher future revenue;
Satisfied customers are also happy to try a different product offered by the same company, leading to an increase in revenue. Loyal customers are especially important given the digital age businesses are currently competing in. Consumers can browse within seconds between different competitor websites to find the offer that best suits their needs;
Satisfied customers are prepared to pay a little bit more. This means that companies who meet customer expectations can afford to be a little more expensive without risking losing the customer to a competitor;
Satisfied customers are cheap advocates for the brand. Usually, customers who have received a good service or product from a company in the past are happy to recommend the company to their colleagues and friends.
Customer satisfaction also warns of changes in the market place. Companies who analyse customer satisfaction rates will know if the time for investment is right and can keep a better eye on their competitor’s activities within the market;
Wolfestone's customer ethos - deliver exactly what is right for clients
Here at Wolfestone, we’ve recently celebrated our 10th year in business, and since our small beginnings in 2006 as a certificate translation supplier, our language company has achieved massive growth and outstanding success, winning or being nominated for some 40 awards in the areas of fast growth, innovation and people development to name but a few. We are now the biggest Language Service Provider in Wales and the youngest translation company ever to chair its trade body, the Association of Translation Companies.
‘You’re not like other translation companies’ is what new clients tell us, and that’s a great thing. In 2016, our customer satisfaction was 99.6% and we’re at the forefront of the industry with investments in technology and security. It is our ethos that we deliver to our clients exactly what is right for them, their project, their goals and their needs. We take the time to listen to our clients and this collaborative approach helps us to build excellent partnerships and develop long-term relationships with our clients.
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