[{"@context":"http:\/\/schema.org","@type":"Article","@id":"https:\/\/www.the-future-of-commerce.com\/2021\/08\/30\/the-undeniable-impact-of-customer-service-on-business-success\/#Article","articleBody":"It\u2019s a truism in business that it\u2019s easier and less expensive to retain existing customers than to acquire new ones. In fact, there are additional costs associated with new customer acquisition, in the sense that their loyalty has to be built \u201cfrom the ground up.\u201d After all, there\u2019s only a limited, short-term benefit to winning new customers who turn out to be one-time shoppers.\nHere\u2019s where the impact of good customer service on a business is irrefutable. Service agents are often the primary face of a brand. When they provide top-notch service, customer loyalty skyrockets.\nTo put it in simple terms, there\u2019s a direct, undeniable linkage between customer service, customer retention, and revenue retention.\nGiven these real economic calculations, it\u2019s not surprising that companies are seeking to bolster customer loyalty by increasing the quality of service they provide.\n \nWhat is customer service in 2022? Definition, types, benefits, stats\n   More than pricing, and even the product itself, customer service is the biggest driver of customer loyalty. Discover all you need to know about customer service in this deep dive.  \nThe growing impact of good customer service on business\nAs major economies try to recover from the pandemic, one alarming development is the shortage of qualified workers. This is especially true in the customer service industry, where it\u2019s hard to attract and retain high-performing talent \u2013 a cursory search of a leading job site revealed nearly a quarter million customer service job openings.\nThere are good reasons why companies are concerned about the shortage of top customer service agents. For one thing, service agents are one of the main faces \u2013 voices, rather \u2013 of a brand, since they are typically the only representatives of a company with whom customers speak once a sale is completed.\nFor another, service agents reside at a critical inflection point: the moment when a customer facing a problem is either satisfied with the service she receives or, more ominously, decides to take her future business elsewhere.\nFinally, there\u2019s a pandemic-driven reason for the heightened importance of service agents. Namely, the massive migration of B2C and B2B spend to e-commerce means that in-person sales interactions have, at least temporarily, dwindled. In other words, interaction with a service agent may be the only live interaction a customer has with a company.\n \nCustomer service: The X factor in business resilience\n   What's the key to business resilience? Find out why customer service is so critical to building a business that can adapt to change and weather any storm.  \nImproving the customer service experience\nThe growing impact of customer service on business has companies focused on improving service to prevent customer churn.\nTechnologies that provide service agents with full end-to-end visibility of a customer\u2019s history with the company \u2013 as well as a view to the specific issue that she is currently experiencing \u2013 help resolve problems more quickly. Ideally, they also help agents deliver resolutions with a greater sense of empathy, an element that\u2019s become vital during the pandemic.\nAt the same time, self-service tools enable customers to solve straightforward issues without spending needless time on the phone or in a chat.\nAnother way that technology boosts the customer service experience is by improving service agent efficiency. The introduction of AI and machine learning to the customer service environment means that vast knowledge bases of problems and potential solutions are immediately filtered in order to serve up the most likely resolution to an individual customer\u2019s issue.\nGood customer service = loyal customers, happy agents\nThere are many benefits to this approach. For one, customers whose issues are quickly and painlessly resolved are more satisfied, and consequently more loyal. What lingers in the mind is not, \u201cI had a problem with the product or service I purchased\u201d but rather \u201cI had an issue, and it was resolved quickly, and in a manner that made me feel like a valued customer.\u201d Secondly, speedy resolution of customer issues means that service agents are able to field more calls, chats, and emails. This can alleviate the need to hire additional service agents, which translates into an immediate savings.\nJust as important, service agents who have the latest tools and technologies to do their jobs more effectively tend to be more satisfied in their jobs. Happy, satisfied agents are going to deliver exceptional service that drives customer satisfaction.\nAnd keep in mind: It\u2019s far easier and cheaper to maintain existing service agents than it is to hire and train new ones.\n \nWhat makes quality customer service? Happy service agents\n   Quality customer service starts with happy agents. Satisfied agents who are given the right tools provide service that boosts customer satisfaction and drives customer loyalty.  \nUnpacking the impact of customer service on business\nWhen we talk about the necessity for top-notch customer service, there\u2019s a lot to sort out. But regardless of where you are in this, there are three key dimensions that are crucial to consider:\nService agents are the face \u2013 and voice \u2013 of your brand.\nWhen service agents engage with customers, it\u2019s an inflection point in the customer relationship.\nTechnology has a vital role to play in customer loyalty and, just as important, service agent job satisfaction.\nWhat\u2019s your CRM done for you lately? Explore the powerful punch of Sales + Service Cloud via this interactive masterpiece.","author":{"@type":"Person","@id":"https:\/\/www.the-future-of-commerce.com\/2021\/08\/30\/the-undeniable-impact-of-customer-service-on-business-success\/#Article_Person","image":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/2021\/08\/30\/the-undeniable-impact-of-customer-service-on-business-success\/#Article_Person_ImageObject","url":"https:\/\/23x6xj3o92m9361dbu2ij362-wpengine.netdna-ssl.com\/wp-content\/uploads\/2016\/06\/Skype_photo-150x150.jpeg"},"name":"Kirsi Tarvainen","sameAs":["https:\/\/fi.linkedin.com\/in\/kirsitarvainen\/","https:\/\/twitter.com\/kirsitarvainen"],"url":"https:\/\/www.the-future-of-commerce.com\/contributor\/kirsi-tarvainen\/"},"dateModified":"2021-10-15T22:18:33+00:00","datePublished":"2021-08-30T11:00:19+00:00","description":"The impact of good customer service on a business has grown in the wake of the pandemic. Improving service boosts customer loyalty and the bottom line.","headline":"The undeniable impact of customer service on business success","image":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/2021\/08\/30\/the-undeniable-impact-of-customer-service-on-business-success\/#Article_ImageObject","height":"630","url":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2021\/08\/CX-business-success_1200x375-1200x630.jpg","width":"1200"},"mainEntityOfPage":"https:\/\/www.the-future-of-commerce.com\/2021\/08\/30\/the-undeniable-impact-of-customer-service-on-business-success\/","name":"The undeniable impact of customer service on business success","publisher":{"@type":"Organization","@id":"https:\/\/www.the-future-of-commerce.com\/","additionalType":"https:\/\/www.wikidata.org\/wiki\/Q1193236","description":"Relevant, timely information & analysis on commerce trends, both consumer-facing and B2B.","logo":{"@type":"ImageObject","@id":"https:\/\/23x6xj3o92m9361dbu2ij362-wpengine.netdna-ssl.com\/wp-content\/themes\/hybris_foc\/assets\/images\/layout\/logo-new-2x.png?_=1","height":"96","url":"https:\/\/23x6xj3o92m9361dbu2ij362-wpengine.netdna-ssl.com\/wp-content\/themes\/hybris_foc\/assets\/images\/layout\/logo-new-2x.png?_=1","width":"500"},"name":"The Future of Customer Engagement and Experience","sameAs":["https:\/\/podcasts.apple.com\/us\/podcast\/a-call-for-a-better-experience\/id1479742201","https:\/\/twitter.com\/FutureOfCEC","https:\/\/www.linkedin.com\/groups\/4844282","https:\/\/www.the-future-of-commerce.com\/feed\/"],"url":"https:\/\/www.the-future-of-commerce.com\/"},"url":"https:\/\/www.the-future-of-commerce.com\/2021\/08\/30\/the-undeniable-impact-of-customer-service-on-business-success\/#Article"},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"2021","item":"https:\/\/www.the-future-of-commerce.com\/2021\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"08","item":"https:\/\/www.the-future-of-commerce.com\/2021\/\/08\/#breadcrumbitem"},{"@type":"ListItem","position":3,"name":"30","item":"https:\/\/www.the-future-of-commerce.com\/2021\/\/08\/\/30\/#breadcrumbitem"},{"@type":"ListItem","position":4,"name":"The undeniable impact of customer service on business success","item":"https:\/\/www.the-future-of-commerce.com\/2021\/08\/30\/the-undeniable-impact-of-customer-service-on-business-success\/#breadcrumbitem"}]}]