A great product will only get you so far. Inevitably, there will be customer issues that need to be resolved with every product ever for the history of time. How companies choose to handle those issues could determine their future.

A mediocre product with great customer service can surpass a fantastic product with awful customer service. Therefore, a great product with great customer service will almost always withstand the test of time (if they are consistently innovating and making enhancements, but that concept is for another time.)

The point is… customer service is the pulse of any business looking to stand the tests of time. After all, without the customer, where does the revenue come from? I know, stupid question.

Experience-Based Society

People are valuing their customer experience at a premium today. With more competition than ever before, the customer experience is often a differentiating factor in long-term, sustainable business. In the present day, there are simply too many options for people to settle for subpar customer experiences.

With that said, it is now more important than ever to deliver on customer experience, especially on the first transaction. Deliver a first-class customer experience on the first AND the second experience and the odds of you having a lifelong customer increase significantly.

The experience of the customer transaction process, whether they are paying for labor services or products is the most controllable and most important aspect of any business. It is a matter of effort. Those who deliver will establish a reputation as a leader in their area.

Loyalty Through Customer Experience

As mentioned above, delivering a top-notch customer experience through the first transaction is crucial to not only growing your business but also to establishing loyalty with existing customers.

Earning loyalty in such a noisy marketplace is no easy task. However, with effort and care taken towards the customer, the possibility of earning said loyalty increases.

With loyalty comes not only the benefit of the reliability of existing customers but the increased opportunity to acquire new customers through referrals.

We have written to a great extent on the importance of referral business, and it is crucial to see increased revenues.

Competitive Risk

If the customer experience is not held in high regard, you can bet the farm that your competition will capitalize on your shortcomings.

With innovation coming in close second, the largest area of vulnerability that any business faces is competition providing a better customer experience. We are in an age where everything is connected, and one negative customer experience could be listed on the internet for the world to see.

If you fail to deliver a premium service or product, or if you fail to deliver a premium customer experience, someone else will.

The Product/Service Integrity Dilemma

This is a consequential risk that runs when customer experience is poor. If a subpar experience is delivered, it subconsciously causes the customer to believe that a great product or service, by default, is also subpar. This concept is terrifying.

We live in a customer-centered society, and no matter how great your skill or product, you must ensure that the customer is happy and has a great experience. Otherwise, all of the time you have spent developing a great product or refining your expert skill is wasted.

Delivery

The equation for success is simple: provide a great product or service and pair it with an excellent customer experience. Your product or service can be made better by holding the customer experience in the highest regard.

Keep this concept in mind, and you will be astonished at how quickly your business will grow.