Poll reveals what consumers most want…….is Value

At the heart of our business goals is the objective of providing value – value in our services both in terms of cost effectiveness, value in terms of client retention, value in terms of our expertise leading to innovative solutions and of course value in terms of our high standards of customer service resulting in satisfied customers. With this in mind I was really pleased that a recent poll reveals that we are focusing on exactly the right theme according to consumers, the truth is they want to see, feel and hear value/be valued. A new survey completed by Convergys reveals what consumers are clearly seeking list from the companies that they do business with. In short they want companies to value them and their money, value their time and their preferences. Please note that the survey compares figures from an equivalent poll complied in 2008.

“Today’s consumer expectations are clear. They expect good value for their money and timely acknowledgement and resolution of their issues by knowledgeable employees, consumers will simply take their business elsewhere when their needs are not met. At the same time, the companies that have the customer service mechanisms in place to give their customers what they want are the companies that will retain and even grow market share.” Jim Boyce, President, Global Sales and Services, Convergys

In a sense its simply a sign of the times, as nearly half of those surveyed stated they are in a worse financial position than a year ago, the recessionary climate has left consumers demanding value as spending remains cautious. The poll goes on to elaborate on specifically the type of value customer are seeking. The findings are especially applicable to our role within the call center industry but apply to anyone in business to some degree. The message is loud and clear and this is what the responses reveal.

You need to value my time: Stellar customer service isn’t optional, customers demand that your business is committed to providing the highest levels of customer support all of the time. When ranking the most important attributes of customer service consumers said (33%) “address my needs on first contact” (25%) “have knowledgeable employees”. Both instances are good reminders that quality training combined with tested and approved procedures are both critical to customers.

You need to value my money: The old saying that time is money applies just as readily to consumers as it does for providers or so the poll would indicate. Consumers who are spending with great care aren’t simply driven by what is cheapest but seeking good value for the money that they part with. (31%) said that “good value for the money” is the second most important customer service attribute, which has risen sharply in the last two years. Meanwhile some 33% evaluated ‘reliable service’ as being more important than price when asked to define what exactly is “good value for money.” This might contradict the common (failed) wisdom – just 5% of customers would define good value as “paying the lowest price.”

You need to value me: Here is a response that polled at 22%, almost double the results of 2 years earlier “Treat me like a valued customer”. Very interesting and something you need to understand well to ensure customer satisfaction. How do you treat a customer like they are ‘valued’ – ask yourself what you expect from service providers, chances are the answer remains constant, caring about customers and getting things right both are of great importance although the ways you can make a customer can feel valued are endless.

You need to value my preferences: If I was polled this would strongly be my personal preference. I want to have choices, have them remembered and be able to use a service or a product as efficiently as possible, in the way I choose. When businesses assume they know what a customer wants they’ve often lost touch with a certain percentage of those same people.

You would think that the fragile economy coupled with common sense would result in higher scores when it comes to customer service. Remarkably that isn’t the case though its not clear if that is due to staffing shortages, less training or any other combinaton of factors. Of those surveyed 57% said they’ve “had a bad experience with a company” in the last year, a number that is higher than previous. If you ever wondered how many customers react to poor service by choosing to refrain from doing future business with a company – the answer is an understandable 44%, again a figure that is rising. For those who have a negative experience but don’t simply leave, the remainder are more likely than ever to pursue and demand an issue be resolved to their satisfaction when they do not receive the service and value they had expected. 66% said that would be their expectation am increase of 8 points from an earlier survey. expect. Survey respondents reported that they informed companies of their bad experiences 66% of the time, up from 58% in 2008. Word of warning – some 57% of survey respondents who reported a bad experience and never received a reply will jump ship. How about the grapevine of goodwill or negative reviews? It seems 80% of those polled who had a bad experience would share the details with their friends or family. The bad tidings are shared via regular conversations, email, text messages and (don’t forget) social media. A negative voice on facebook can potentially be read by thousands of people in literally no time at all. Social media is the new gossip column, so promote the good news and counteract the negative.

The poll does in many cases tell us what we should already know – but I think you should share it with those you work with…..customer service must have value at the core- words worth remembering. Convergys’ Customer Intelligence Services surveyed 2,500 customers, 1,500 employees, and 120 executives of large companies in the United States and the United Kingdom in January 2010.