What are the Benefits of Meeting a Customer’s Expectations?
We all know how customer’s the king in every business and it’s a fact that we need to fulfil and even exceed customer’s expectation to bring success to our businesses. Like Sam Walton said, “There’s only one boss, it’s the customer!”. Shep Hyken have said that “A consistent and predictable experience creates customer confidence, which can lead to loyalty” and it’s true, when you provide a good experience to your customer you acquire their trust as a business.
There are plenty of benefits of meeting your customer’s expectations when you do business similarly there are disadvantages when you don’t. In fact, in a survey by Salesforce, 76% of customers said, “it’s easier than ever to take their business elsewhere—switching from brand to brand to find an experience that matches their expectations.”
So, it’s necessary that you keep your customers satisfied. And while you’re at it, here’s other benefits you can count on.
- A regular and honest customer base.
What does every company love? Loyal customers who adore them and supports them! When you meet your customer’s expectation, their one-time purchase become a regular thing and that’s cheaper. Why? Because according to Invest, investing in new customers is between 5 and 25 times more expensive than retaining existing ones. A customer wants nothing more than good service and if you give it to them, they will come back to you.
- Makes you unique among other competition.
According to Zendesk, after more than one bad experience, around 76% of consumers say they would rather do business with a competitor and that’s not very good to hear is it? However, you can turn in into your benefit. When you satisfy your customer’s expectation with your service, they will come to you and share it with others. In fact, according to salesforce 72% of customers will share their good experiences with others. This will in turn make you unique among your competitors, someone who cares about their customer unlike many others.
- Influence your sales.
Did you know that according to HubSpot, 68% of consumers say they are willing to pay more for products and services from a brand known to offer good customer service experiences? If that doesn’t explain the importance of customer service, we don’t know what will! When you meet your customer’s expectation, they will do business with you again even if you increase your costs. HubSpot Research also says that 93% of customers are likely to make repeat purchases with companies who offer excellent customer service which means they will pay more if you ask them too.
- Free marketing.
As we already mentioned, word of mouth matters so does your reviews. In fact according to Bright Local, 87% of consumers read online reviews for local businesses in 2020 and we are guessing it has only increased after the pandemic. Dharmesh Shah said, “Improve the experience and everybody wins” and it totally related to this situation. When you meet the expectation of your customers, your customers are happy with you, and they reward you by suggesting to someone. This way the business as well as the customer gets benefitted.
Now that we know that benefits of meeting customer’s expectation, let’s look at how you can know about their expectation.
- Ask for feedback.
According to Harvard business review, 84% of customers report that their expectations had not been exceeded in their last interaction with customer service and that’s not a way to go with a business. Ask your customers what they want and fulfil it. that’s the easiest way to go.
- Competitive analytics and research.
Internet is vast and you’ll find almost everything there including what your customers or potential customers expect from a brand like you. A Deloitte research shows that, 72% of companies believe they can use analytics reports to improve the customer experience. Use your detective hat to please your customers.
- Ask your customer service team.
Nobody knows your customers better than your service team. Then have been there listening to the complaints and solving them, so, asking them is an obvious way to know what your customers are expecting. HubSpot even says that 73% of customers say they stay loyal to brands because of friendly customer service agents so there’s another benefit of having good service agents.
Meeting your customer’s expectation isn’t something that you can do, it is something you must do to remain in profitable business. The competition in the market is tough and according to Glance, 78% of customers have backed out of a purchase due to a poor customer experience. So, businesses need to have their customer’s to be content only then their business will develop. The benefits of meeting your customer’s expectation are endless, as Lisa Masiello said, “Happy customers are your biggest advocates and can become your most successful sales team”. So, why not make them happy by fulfilling their expectation?