Loyal customers are crucial for your business. They return more often and spend more each visit than disengaged customers; they’re enthusiastic advocates and your best source of social proof; and a 5% bump in customer retention can increase your profit by 25% to 95%, depending on the industry.
So it’s unfortunate that businesses often focus more on cutting costs and squeezing every bit of productivity out of employees than on spurring customer loyalty. It may make sense on paper, but an average of 80% of a company’s profits comes from 20% of its customers. Shouldn’t the focus be on the customer experience?
ClearSource thinks so. In fact, our business model is based on delivering a luxury customer service experience in every category and vertical for our clients’ customers. That customer experience (CX) can generate loyalty for life.
Here’s how we do it:
- We define the correct CX as “exceptional.” “Great” isn’t good enough. Exceptional is essential.
- We measure CX on three criteria within a repeatable, trainable, scalable formula:
- The customer’s issue is resolved upon first contact.
- The customer’s emotional connection to the client’s company is enhanced.
- The time and effort of the customer are minimized. (Our tiered technical support system helps a lot.)
- We take care of our employees so they can take care of We recruit top call center talent, provide in-depth training — such as our groundbreaking Leadership Training and in-house product training — and fuel their passion for creating an exceptional customer experience.
Any business can incorporate any part of this formula and improve their CX. That’s a worthy goal — but it’s not our goal. For our clients, ClearSource aims to create customers for life.
That’s why every part of the ClearSource formula is active in every interaction employees have with customers and with one another. Exceptional CX is in our DNA. And research shows that a highly positive emotional relationship with a brand delivers an ROI of 306% higher lifetime value per customer.
That kind of loyalty has to be earned through an exceptional CX, and that’s why ClearSource prioritizes customers’ experiences — not cutting costs to the bone. The ROI isn’t there.
It’s in lifetime customer loyalty. That’s what we focus on every day with every customer, for every client. Shouldn’t everyone?