Why, How and What?
Organizations across the world, particularly those who industrial manufacturing hardware products are on the lookout for new and better ways to improve the experience of their customers and stakeholders. More often than not, the products manufactured in the Industrial Manufacturing sector are marketed either to a B2B or B2B2C clientele, necessitating the need for organizations to satisfy their clients, who will either use it in manufacturing their product or will pass it on to the client.
87% of Organizations believe that customer satisfaction is an extremely crucial factor in driving the success of the organization.
Why is Customer Satisfaction Crucial for Organizations?
Acquiring a new customer is 5 to 25 times more expensive than nurturing an existing customer.
In the industrial manufacturing sector, most players have only a handful of customers and exclusively create products for them. In most scenarios, Industrial Manufacturing units create volumes and generate revenues in the process. Hence losing even one customer can be a big blow and can derail the systems set in place.
As a result, ensuring customer satisfaction and retaining customers by providing exceptional customer service is of prime importance to Industrial manufacturing organizations.
As an Organization How can You Improve Customer Satisfaction?
When was the last time you purchased a product from any e-commerce site or even a traditional brick and mortar establishment without getting good reviews? In all spaces, customers are always on the lookout for other satisfied customers. People want to know of other users or organizations who have bought a product before they try it on their own.
Word of moth marketing is still very prevalent in some industries and satisfying customers is the only way in which many organizations can scale, reinvent, and grow.
Did you know that organizations who proactively ensure customer satisfaction grow four times faster than those who don’t?
Hence instead of asking why, it is about time that organizations focus on how they can ensure customer satisfaction.
Satisfying customers by attending to their needs at all steps of the sales funnel and beyond is the first and most crucial step to ensuring organizational success.
Additionally, this also boosts the morale of the employees, for most employees find it extremely hard handling difficult or irate customers. Offering demonstrations, service support, maintenance support and channels for feedback are the techniques an organization can deploy to enhance customer satisfaction.
What Can an organization do to Achieve Optimum Customer Satisfaction?
To enable customers to love a brand or organization, and choose their product over others, here’s what should be done.
Pre-Sale Assurance: When any customer purchases a product, they would want to know how the product blends in with the other components it has to interact with. They would also like to feel the product, get a better idea of its functionality and be assured of its aesthetics before they make a purchase. Creating an AR or VR based system that provides looks like models of products in their settings helps customers feel more assured of the purchase.
AI Based Upselling: Many organizations would prefer to buy multiple products with one single manufacturer than liaise with several manufacturers across the board. Developing allied products that can be used in conjunction with the product they are buy reduces the hassle for the customer (the hassle to search for that product) making them more comfortable with the brand. Additionally, it boosts revenues across the different verticals and offers organizations the opportunity to expand their product repertoire.
AR in Point of Purchase: Offering customers an AR based demo, in different languages at the point of purchase further helps them understand the functionality of the product and helps them choose the product in lieu of other similar products. This also helps them feel more connected with the brand.
Post-Sales Support: The responsibility of the organization selling the product doesn’t end once a sale is made. They need to offer post sales service, troubleshooting and a host of other services. In fact, if these services are below par, may choose other organizations, irrespective of the quality of product. Offering customers AR based troubleshooting and IOT based remote service technicians to solve problems goes a long way in fostering loyalty and customers satisfaction!
The Bottom Line!
The importance of Customer Satisfaction can never be further emphasized. Technology makes it easier for organizations to deploy systems that can help customers make purchase decisions, interact with the product, and even troubleshoot.
play an extremely crucial role in building an organization. They generate revenues and support organizations in unseen ways. Hence ensuring their satisfaction is crucial.
Customer Satisfaction increases loyalty, loyalty improves sales, sales increases revenue and enables the organization to grow efficiently.
Organizations need to put themselves in the shoes of the customer and deliver services that they would love if they were the customer. That is the prime solution to customer satisfaction.
Reference:
- https://www.smartinsights.com/customer-engagement/customer-engagement-strategy/customer-experience-research-statistics/
- https://lumoa.me/blog/the-importance-of-customer-satisfaction
