Why focusing on customer relationships will help grow your business

customer relationships

Having a good relationship with your customers is the key to creating a thriving business. We all know this, but sometimes we get focused on the day-to-day minutiae of running a business and lose focus on what really matters. But in case you forgot, below are the benefits of building and growing customer relationships.

Happy customers are more valuable

The type of experience you deliver to your customer matters. In fact, customers are willing to pay a premium for good service. Research has found that 55% of consumers are willing to pay more for a good experience. Consumers don’t want you to cut corners, especially if it means receiving suboptimal service. Your competition might charge less, but in the end, it won’t matter as long as you are giving the customer what they want.

Good customer experience builds trust

Providing a good customer experience is also a good way to build trust with your base. According to a survey by Zendesk, it is actually the number 1 factor that impacts trust in a vendor. Having the trust of your customers is key because customers that trust a business are more likely to stay loyal and less likely to leave your business for the competition.

Happy customers tell their friends

Customers are vocal, whether their experience is bad or good. That same study by Zendesk found that 95% of respondents share their bad experience, while 87% shared their good experience with others. In the past, customers could only share their experience with people they knew or were acquainted with. Nowadays, their voices can be amplified using social media and online review sites.

As a result, the reach of your customers’ complaints or praise is significantly greater than before. It can now potentially reach hundreds, if not thousands of people researching your business. Because of this, businesses should place increased emphasis on building and maintaining good customer relationships. Doing so will mitigate the impact a negative review might have on your business.

Referrals help grow business

Sometimes customers can be your best salespeople. Consumers are more likely to trust a referral from a customer than a business’ marketing and advertising. The cool thing is those referrals don’t even have to come from someone they know. A recent survey by BrightLocal found that 84% of respondents trust online reviews as much as personal recommendations from family and friends.

How to leverage customer relationships

To make sure that your online reviews are representative of your actual experience, you should ask all of your customers for feedback. That same BrightLocal survey found that 7 out of 10 customers would be willing to leave a review if they are asked, so the key is to ask. The best way to ensure your customers are leaving reviews about your business is to create a frictionless process for inviting your customers. An online review management platform will help you accomplish this.

How Podium can help

Request a demo to see how Podium’s cloud-based solution can help you use text messages to invite all of your customers to review your business. Podium’s efficient, mobile process can help your business build a strong online presence on the sites that matter most. This will, in turn, improve local SEO and ultimately boost revenues.

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