Happy Customers Fuel Thriving Companies

July 17, 2014 Marijah Adams Cleek

Spending a ridiculous amount of time on a website looking for information is something that happens to almost everyone. You know what you need is located somewhere on the site; however, it seems a little daunting to click through all 47 link options, and the search bar keeps returning a “sorry, but no results were found” message. Cue internal fit of rage… now. This is an obvious problem that most companies would love to eliminate. But how? How about offering customers an instantly engaging CodeBaby Intelligent Virtual Assistant (CIVA)? It will be love at first click.

Engagement is key

Let’s rewind past the internal fit of rage and the unhelpful search engine results, all the way to the very first time a customer visits your company’s website. They select the link to your homepage, and one of two things happens. Either you: A) drop them off alone on a foreign website with minimal directions and loads of options or B) engage them instantly, insuring they will have a blast navigating your website.

According to LeadFormix’s blog, Top 5 Website Engagement Tactics, “Every website visitor needs personalized attention, irrespective of whether or not [they are] going to do business with you1.” Online customers need to feel like a person, not an IP address, which is exactly why having a CIVA benefits your business.

Get Five out Five Stars

More now than ever, customers are abandoning websites because of the company’s inability or unwillingness to create a dynamic, multi-channel experience2. The Baymard Institute catalogued 22 studies on eCommerce shopping cart abandonments that found on average 67.45% of all first time visitors jumped ship, regardless of industry3.  Another study, The Global Customer Satisfaction Report 2008, found that low quality customer service is the primary reason for customer attrition, rather than price or product4. And companies are nearly five times more likely to lose a customer to their competitor if the problem is service-related rather than product-related5. So, that really ups the ante on the need for a CIVA.

Another happy online customer!

It’s a well-known fact that customers are more likely to return if they feel a bond with the company. And personalized experiences are crucial to building strong customer bonds6. This is a little bit tricky nowadays when 50% of customers want easy online interactions rather than speaking person-to-person7. Now, please allow me to drop a few more statistical bombs:

  • Customers who reach successful resolution are so happy, they tell roughly 4-6 people about their experience8.
  • Unhappy customers who feel like they weren’t taken care of will tell about  5-10 people about how they shouldn’t ever use your product or company9.
  • For each negative experience, customers must have 12 positive experiences to make up for it10.
  • The third biggest reason for customers cutting ties is having to wait too long to receive service11.
  • 81% of customers would pay more for grander service12.

Emmet Murphy and Mark Murphy, authors of Leading on the Edge of Chaos, found that increasing customer retention by only 2% can decrease company costs by 10%13. That’s quite the difference, but why stop at 2%? In this fast-paced, digital world, it’s imperative for meaningful virtual interactions to occur…or your company might be a thing of the past. CIVA can help you gain digital relevance, increase customer retention, and improve your brand engagement.

1Leadformix. “Top 5 Website Engagement Tactics.” http://www.leadformix.com/short-takes/top-5-website-engagement-tactics.html

2 Accenture. “Are Your Customers on a Speedway or Stuck in the Slow Lane? The 2012 Accenture Global Consumer Pulse Research Study.” http://www.accenture.com/SiteCollectionDocuments/PDF/Accenture-Global-Consumer-Pulse-Research-Study-2012.pdf

3 The Baymard Institute. “22 Cart Abandonment Rate Statistics.” http://baymard.com/lists/cart-abandonment-rate

4 Wollan, Robert. Accenture. “The new rules for customer service: Findings from the Accenture Global Customer Satisfaction Survey.” http://www.accenture.com/sitecollectiondocuments/pdf/Global20Customer20Satisfaction20Survey_Outlook_Jan08.pdf

5 Azita, M. “Fastest Way to Lose Customers.” http://blog.getsatisfaction.com/2010/10/04/fastest-way-to-lose-customers/?view=socialstudies

Accenture. “Are Your Customers on a Speedway or Stuck in the Slow Lane?”

7 eMarketer. “Consumers Free to Speak Their Mind Online: For better and for worse.” http://www.emarketer.com/Article/Consumers-Free-Speak-Their-Mind-Online/1007395

8 McClure, Patrick. Connexia Group. “The Value of a Satisfied Customer.” http://www.connexiagroup.com/files/newsletters/78_JuneNewsletter.pdf

9 McClure. “The Value of a Satisfied.”

10 McGovern, Michele. “How long does one bad experience last in a customer’s mind?” http://www.customerexperienceinsight.com/how-long-does-a-bad-experience-last-in-a-customers-mind/

11 Azita. “Fastest Way to Lose Customers.”

12 Hall, Samuel and Ross Lambert. Oracle. “81% of Shoppers Willing to Pay More for Better Customer Experience, Oracle Research Shows.” http://www.oracle.com/us/corporate/press/1883120

13 Accenture. “Are Your Customers on a Speedway or Stuck in the Slow Lane?”

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