Why An Excellent Customer Experience Leads To More Revenue For Companies

Business experts are always emphasizing the importance of customer service and how it impacts the revenue of their company.  Some companies have gone to great lengths to enhance the experience their customers encounter when they walk through the door.  But, does the customer experience really matter or is it just a luxury that only the largest companies can afford?  One study determined that a positive customer experience can elevate a company’s earnings by a considerable margin.

 

To some extent, customer experience determines the loyalty your company generates in clients, both old and new, and whether they are more or less likely to buy from your company again.  In turn, this directly impacts revenue retention.  Software companies tend to benefit the most in this arena as they earn over $300 million a year from their existing customers alone.

Even if you only offer membership management software and your growth seems to have stalled out, your membership may still prosper.  A positive customer experience will encourage those customers you already have to stick with you long-term.

 

Though many organizations have thrived with membership management software alone, there is always room for growth.  Try to think of ways to expand your reach by providing excellent customer experiences.  If your customers are happy, they’ll do more than just come back.  They will tell others they know about your software and where they can go to learn more about it.  Excellent customer experiences can turn your clients into your biggest promoters, which typically elevates sales.

According to one study, 88% of customers that are happy with their experience are more likely to refer a company to their colleagues.  More importantly, software firms that offer an exceptional customer experience can add up to $185 million to their revenue.  Those numbers should be enough to encourage you to alter the way you treat your customers!