3 Key Takeaways from Argyle Customer Experience Leadership Forum
"The #1 reason to recommend a company is outstanding service" --JP Saunders, Senior Director of Strategy, Oracle
It's the holiday season full of shopping and gift giving. But two weeks ago in San Francisco I received the gift of enlightenment as I attended the 2016 Customer Experience Leadership Forum sponsored by Argyle Executive Forum. I had an excellent experience sitting in a room full of senior customer experience leaders and listening to experts share their insights on key issues facing Fortune 1,000 companies.
For me the most valuable part of the day was listening to JP Saunders, Senior Director of Strategy at Oracle, give a fascinating presentation titled "The Oracle Roadmap to Modern Customer Service." My three key takeaways from his presentation were:
1. Customer Service is Key to Growth: As Saunders put it, customer service has always been key to growth and is the new hero. From early on, visionaries like Henry Ford knew providing outstanding customer service was a differentiator which helped companies stand out from others and achieve outstanding sales growth.
2. Bad Service is Expensive: One statistic Saunders shared with the crowd is that "$300 billion a year is the cost of bad service world wide" (Huffington Post, April 2016). This is from customers not getting the right answer or wasting time trying to get through to customer service. But it gets worse because "61% of customers go to competitors after bad service" (Huffington Post, April 2016).
3. Bad Service Affects Your Future Business: Another interesting concept that stood out from Saunders's presentation is that bad customer service doesn't just affect you possibly losing current customers, but could affect your future business. One report from Dimension Data said that "45% participants reported broad use of social media to spread stories about bad customer service experiences." If your prospects are looking for information about your company online, they will read those negative comments and it could keep them from purchasing your product.
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As you head into 2017 keep in mind that providing outstanding service and support will impact the bottom line, strengthen brand loyalty and drive repeat business. Five9 can help you achieve your 2017 business goals. Whether you want to improve call center productivity, convert more leads, increase profits, build customer loyalty, scale your business quickly, or lower your costs, Five9 can help. Five9 even provides tools that listen across social channels to detect negative language and can direct that conversation to an agent to follow up.