What do your customers say when they are talking about you? Great customer care ensures good word of mouth, increasing your revenue.
Anyone who even vaguely pays attention to movie box-office earnings (which is sort of like a sport) is familiar with how they use the common phrase “word of mouth.” You’ve heard it before: a movie opens well, with good numbers, before “word of mouth” hurts it the next weekend. Suddenly, it is pretty much a flop.
What they are saying, politely, is that a bunch of people went to see a movie, hoping it would be good, and then it wasn’t, and they started telling everyone about it. That used to happen by literal word of mouth.
Granted, not every negative review makes sense
Now, of course, it is amplified by social media. Any message can reverberate around the world nearly instantly, and messages can start piling on themselves, creating a snowball effect.
But it isn’t only for bad news. Good word of mouth can help a movie, and it can help your business. Positive word of mouth about your product, and especially about your customer care, can increase revenue by creating new customers. It does this because we’re used to negativity. Finding something positive--hearing good word of mouth--causes people to pay attention.
And paying attention is the first step in getting new customers.
Here are a few stats that will shine some light on the power of negative word of mouth. But don’t worry! This is just to get to the good stuff.
So what do you need to do to stand out? Be in that positive 20%
You ever hear of a movie called The Shawshank Redemption? Of course you have.
This is how you feel when you get positive tweets
But you might not have heard of it when it came out, assuming you are old enough to have been seeing movies in 1994. It made a paltry $28 million at the box office, which even in 1994 was a bit of a flop. It didn’t get much marketing hype, and could have came and went.
But here’s the thing. The people who saw it loved it. They told everyone. So by the time it came out on (sigh) VHS, it started to sell. It made $80 million in sales, nearly unheard of for a flop. It flew off the (sigh) shelves at (sigh) Blockbuster. It was a flop that became a hit, because people loved it.
And why did they love it? Because it gave them what they want. So they started talking about it, and more people got interested. In the year of Forrest Gump and Pulp Fiction, it became a word-of-mouth hit.
So why does this work? Because it is unusual.
Think of how many bad movies you have seen. There have been roughly 37,000 Transformers movies, I think. So when Shawshank started getting talked about, it brought in more eyeballs. People wanted to know what this movie was.
That’s what your company has to do. Great customer care can generate more revenue by maintaining your connection to current customers by decreasing dissatisfaction, but it can also bring in new customers by generating positive word of mouth.
When you hear something good, you want to try it. It is natural. If you are looking for a new product or service, and looks it up online (as 90% of Americans do first) and see positive reviews and glowing Tweets, you’ll be intrigued. It’s worth looking into of course.
Now, a lot of this depends on your product. If you have a bad product, the best customer care can’t fix it. But the reverse isn’t true. You can have a great product, and bad customer care can bury it in a sea of negativity. But great customer care can help it rise above the negativity everyone else is floating in, and let the product stand for itself.
That’s why so many companies are turning to trusted third-party vendors to be their customer care partner. That way, they can focus on what they do best, while letting customer care professionals answer questions, resolve problems, upsell services, maintain client relations, and generate positive word-of-mouth to create new customers.
That’s how customer care generates revenue. While hope might be a good thing, even the best of things, the link between good customer care and increased customers and revenues isn’t a hope. It’s a sure thing.
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Publish Date: September 12, 2017 5:00 AM
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