Like it or not, online reviews influence your prospective clients. And, if you think your business can ignore online reviews and risk providing a poor customer experience, then think again! While you’ve probably heard the saying that “there’s no such thing as bad publicity”, but when it comes to negative online reviews, that kind of publicity can directly affect sales — negative reviews decrease sales. A 2011 Online Influence Trend Tracker survey found that 4-out-of-5 consumers changed their minds about a purchase after reading a negative online review. Bad online reviews and social media chatter hurts any business, small local ones will suffer the most. You could be losing customers without knowing who they are or why they chose a competitor.
Customer engagement can be defined as the experience and touchpoints a customer has with your product and company. It directly effects the emotional connection between a customer and a brand. And, customer loyalty is largely a result of frequent positive engagement. As the typical consumer wields power with more information and choices, engagement has become the primary channel to ensure that a brand is “top of mind” when a purchase needs to occur.
Why should you worry about whether or not a customer is engaged on the phone? Because customer engagement is built and rebuilt (or destroyed) with every brand interaction, and according to a study by CX Act Inc., the telephone still trumps the web and social media. So, it’s in your best interest to make sure every caller is engaged!
What’s your biggest enemy in business? While you might be quick to think it’s your competition – you’re wrong! One of the biggest enemies for businesses is customer acquisition costs (CAC). It’s where the rubber meets the road as they say.
Customer Acquisition Cost, or CAC generally refers to sales and marketing costs that are incurred in the process of acquiring a customer. And, reducing this cost is an ongoing mission for any business that wants to survive and continue generating revenues.