- It takes 12 positive experiences to make up for one unresolved negative experience*
- For every customer who bothers to complain, 26 other customers remain silent**
- It is 6-7 times more expensive to acquire a new customer than it is to keep a current one**
As the above statistics show, maintaining consistently high customer service standards is fundamental to achieving business success.
If just one person receives a bad experience when engaging with your retail organisation, the financial implications are broader than just the loss of that transaction or individual shopper. It impacts the potential future purchases by that customer and anyone else who hears about the experience they’ve had.
“Although your customers won’t love you if you give bad service, your competitors will,” Kate Zabriskie, Business Training Works, Inc.
How do you generate loyalty in the people who choose to shop with you?
The question retailers are asking themselves is how do they take an individual shopper who makes a single transaction and turn them into a loyal customer who keeps coming back?
The answer is always to give more than the customer expects. And to do that, you need to know them personally.
- 70% of buying experiences are based on how the customer feels they are being treated***
Sometimes, it’s not what you do but how you do it. A customer may be buying exactly the same t-shirt from you as they could get in a dozen other places. But they’ll come back to you each time if they feel you’ve gotten to know them personally.
And to complete the connection, for them to feel they know you, they need to have interacted with you on a personal level via different channels.
Technology connects you to your customers
Microsoft Dynamics 365 is Microsoft's new approach to end-to-end intelligent business applications in the cloud, combining both ERP and CRM technology.
It takes the personal details of each customer, from their previous order history to their preferences, and gives you valuable insights on which to base your communications.
Now you can contact a customer and offer them discounts and sneak previews of the products you know are of interest to them.
This ability to focus offers and promotions on specific customers, based on the insights and predictive intelligence received from Microsoft Dynamics 365, allows you to offer a personalised customer experience across all channels including social media.
*Understanding Customers by Ruby Newell-Legner
**White House Office of Consumer Affairs