How to Improve Your Customer Service ROI

Did you know that customers are willing to pay more for better customer service? As an organization, you must understand that retaining existing customers is equally important as acquiring new ones and is a less costly process. Therefore, even if you don’t get a solid customer service ROI initially, you must not stop. In the long run, good customer service always pays off. In this article at Forbes, the author explains some crucial customer service metrics that will help you better understand your ROI.

Customer Service Metrics to Measure

Note Repeat Customers

“By reviewing how customers behave after interacting with your customer service department, you can gauge what problems they encountered as well as the positive aspects,” says the author. In addition, measuring the repeat behaviors will help you build a better relationship with your audience and improve conversions on your site.

Monitor Social Media

Many customers voice their opinions—both frustration and praises—on social media. However, only a few organizations embrace it and respond. Being unresponsive can create a one-way experience for your customers. Therefore, track social media metrics. This will help you understand when to respond to a customer and the types of questions they ask. Furthermore, you can put a better system in place to address those issues.

Pay Attention to Client Retention

Client retention is closely related to winning repeat customers. Remember, if your clients are satisfied, they do not do business with others. Industry experts believe that even if customer support can help retain 5% of the high-value customers, an organization can meet 30% of its quarterly goals. Several studies have indicated that people are willing to pay a premium for brands with excellent customer service. Additionally, as sales increase, customer acquisition costs will undoubtedly reduce.

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