What do you own that you would be willing to put on the line in…
Hopefully, this will come as no surprise to you. Canadian shoppers have proven that they value their customer experiences over the products and services they receive from the companies they do business with. And, hopefully, it won’t surprise you to learn why. What you have to sell is likely available from your competitors. So there needs to be something special that sets your company apart from its competitors. It’s all about how you make your customers feel.
“Customer service is also important to an organization because it can help differentiate a company from its competitors,” writes Rick Suttle on Chron.com, “For example, it may be difficult to tell the difference between two small-town drug stores, especially if their prices are similar. Therefore, putting extra efforts into customer service may be thing that gives one drug store a competitive advantage.”
How does excellent customer service help your company to save money? Every company has an advertising budget. And, for most small businesses in Canada, that budget isn’t all that huge. As a result, it’s really important for customer relationships to be strong. Happy customers make for the absolute best advertisers. Most entrepreneurs would agree that word-of-mouth promotion is not only the most cost-efficient source of advertising, but the most effective as well.
On Entrepreneur.com, R.L. Adams also explains that it is far more expensive to spend money on customer acquisition than it is on customer retention. “On average, it costs approximately five times more to attract a new customer to your business than it costs to retain an existing customer,” he informs, “That logic on its own should highlight the importance of providing excellent customer service.”
How is excellent customer service your best source of advertising? It needs to be reiterated that word-of-mouth promotion is incredibly impactful. People place a lot of faith in the recommendations given to them by their family members and friends. Their referrals are regarded as genuine because they are based on actual experiences and are not paid advertisements. Naturally, the better the customer experiences, the more referrals a company is bound to get.
“People that have a positive experience with a company’s customer service department will likely tell two or three others about their experience,” says Suttle, “Therefore, quality customer service can be a source of promotion for organizations. Contrarily, a person who has a bad customer service experience will likely tell between nine and 20 people.”
“You absolutely cannot buy word-of-mouth advertising,” agrees Adams, “It’s priceless. People are considerably more likely to listen to the advice of a friend than they are to heed the guidance from some online review or advertisement. Whether you’re trying to make money online or offline, great customer service will create an army of raving fans that will champion your business for you.”
How does Synergy Merchants focus on providing customers with excellent customer experiences? We know that, for most of our clients, the merchant cash advance concept is new. We’re mindful to consider the various concerns, needs and wants of our clients in order to make sure that they are provided with the types of advances that best suit their companies.
For a dose of our customer service style and for more information about our merchant cash advance program, please don’t hesitate to call Synergy Merchants at 1-877-718-2026 or email us at email@example.com.