Technologies that can Help MSMEs Drive Customer Satisfaction

23/06/2021

Why is Customer Satisfaction Important for Your Business?

Even great brands need to prioritize customer service/satisfaction to be successful. In fact, there is an age-old business mantra called ‘Customer is King’. If customers do not find your services and products satisfying, you are sure to lose them to competitors. Good customer service is the key to enhance customer satisfaction, which in turn can boost revenue by 5.7 times. Here are a few reasons why customer satisfaction is indispensable to business success:

Technologies that can Help MSMEs Drive Customer Satisfaction

Acquiring new customers is costlier than retaining satisfied customers. If you focus your resources more on satisfying your existing customers, then you can boost sales with less investment and efforts. Moreover, it is easier to retain an existing customer as they already know about your products and services and are interested in the same. This saves the time and effort required in researching a new customer base and re-customizing your services to suit their needs.
Customers value their experience with your brand more than the price they pay for your services. Research suggests that 87% of customers are likely to make a second purchase and are even willing to pay more for your services if you provide a positive and personalized experience.
Customer satisfaction also leads to positive word of mouth. Studies have revealed that word of mouth is among the most trusted sources of product information for consumers.

How Can Technology Improve Your Customer Satisfaction Rates?

Considering the importance of customer satisfaction, it is necessary for businesses to collect customer feedback and improve their services. As an MSME, you might get overwhelmed by the various sources that help collect customer feedback. You can gather feedback either through customer feedback surveys, emails, social media platforms or customer service calls.

Gathering customer feedback, however, is only the beginning. You need to leverage the right technology to collect and collate the data that can be further used to identify profitable trends and different areas of improvement. Here are a few reasons why you should move towards digital solutions to improve your customer service:

Technology can help you facilitate seamless communication with your customers. For instance, with the right software solutions, live phone interactions with customer desks can be routed to appropriate departments based on customer’s queries and needs. You can also make use of website analytics and help desk software options for finding FAQs (frequently asked questions). After knowing the most common concerns you can restructure your menu options to provide increased customer satisfaction. Not just this, you can also make use of chatbots to automate communication with customers.
The best way to satisfy your customer’s needs is to let them speak about their experience with your product or service. Being open to customer feedback can make 77% of consumers view your brand more favorably. Social media can serve as an excellent platform for engaging with customers and seeking their suggestions and recommendations. Any criticism received on these platforms can be used as lessons to make improvements in customer service accordingly.
By leveraging AI (Artificial Intelligence), you can easily deliver automated personalized responses. For instance, if a customer has a bad experience with your brand you can use AI to set up your system for sending coupons or other apology tokens. Presently, different AI based tools are greatly transforming e-commerce market-places. Predictive analytics (tools like Amazon Assistant), augmented analytics and geo-fencing[16] can be used to help customers make better purchase decisions by offering data backed suggestions and recommendations.
You can also make use of Big Data for:
a) Developing better products by understanding customers’ behavior and buying pattern
b) Personalizing advertising using sentiment analysis
c) Improving user interface by getting an insight about website’s performance
d) Bolstering data security by screening fraudulent activities and issuing warnings to customers.

Click here to know more about using Big Data for better customer experience.

Tips to Introduce Technology for Customer Satisfaction

Customer service for small business can be made much simpler with only a few steps:

Ensure you are engaging your workforce when introducing any new technology. Take their feedback as that can help you to understand loopholes in the technology that has been introduced. Make sure that you explain the need and working dynamics of the technology to them.
Avoid complete automation and digitization. Instead think of ways to efficiently balance human effort and technology tools on a smaller scale. After evaluating the performance of the same, head towards large-scale transformations.
Do not introduce technology just for the sake of trend. Carefully understand your business needs and then consider implementing the right technology. This will ensure that you only introduce technologies that can really benefit your customers. After all, what would be the point of introducing a change that cannot improve customer satisfaction.
Give security ultimate importance. Ensure the technological integration is secure and not prone to cyber-attacks.
Choose the right partners to ensure the transformation is seamless and effective. Analyze your present mode of working and outline your shortcomings. Research and find out about the services that can be provided by companies or applications to best suit your needs.

Tips to Introduce Technology for Customer Satisfaction

Conclusion

Customer service can either make or break your business. Thus, ensure that you are taking adequate care to avoid mistakes that can negatively impact customer experience. If you are still wondering about how to satisfy customers with the use of technology, tools like AWS SMB Digital Suite, are one of the best solutions for you to consider.

Disclaimer: Whilst Amazon Seller Services Private Limited ("Amazon") has used reasonable endeavours in compiling the information provided, Amazon provides no assurance as to its accuracy, completeness or usefulness or that such information is error-free. In certain cases, the blog is provided by a third-party seller and is made available on an "as-is" basis. Amazon hereby disclaims any and all liability and assumes no responsibility whatsoever for consequences resulting from use of such information. Information provided may be changed or updated at any time, without any prior notice. You agree to use the information, at your own risk and expressly waive any and all claims, rights of action and/or remedies (under law or otherwise) that you may have against Amazon arising out of or in connection with the use of such information. Any copying, redistribution or republication of the information, or any portion thereof, without prior written consent of Amazon is strictly prohibited.