Reassurance has limitless possibilities. It can be used to increase customer loyalty, satisfaction, retention and referrals.
At this time that some has termed ‘condition critical’, a time of high inflation rate and everybody cutting down cost, every business need a way to gain their customer's trust. However, one way of gaining trust and support is by building customer reassurance to give them the leverage.
Let’s explore.
Consumers have options and will switch if they are not satisfied
- Consumers have more options than ever before. Thanks to the internet, consumers are more informed and better able to evaluate their options.
- Consumers are more willing to switch brands. Customer reassurance is becoming increasingly important as consumers become more globalized and demanding in their purchasing habits.
- Consumers are more likely to switch to competitors. Because of this, it’s crucial for businesses not just to maintain customer satisfaction but also to strive for a complete quality customer experience!
Customers are willing to pay for protection
Customers are now willing to pay for protection. They are more likely to do so at this time of uncertainty. The rise in customer awareness has led them to become increasingly willing to pay for protection. Customers today expect that their purchase will provide benefits beyond what is delivered by competitors’ offerings. They want assurances that the risk of loss or harm has been reduced as much as possible.
In today’s market, the customer experience is a differentiator
It’s not enough to have a great product or service (even though you should). A business must also deliver that phenomenal customer experience at the critical phases when these customers are interacting with the brand. The quality customer experience is the new marketing: It’s what will keep a brand top-of-mind and help build brand equity.
82% of consumers say they’re willing to pay extra money if they receive excellent customer service from companies they do business with — and 89% of customers say they are more likely to recommend companies that provide excellent experiences than those who don’t!
Customers and their expectations are evolving
Customers today are more sophisticated, demanding, informed and connected than ever before. They will keep demanding more from you — because they can get it from your competitors.
We see seismic shifts in the way customers interact with brands. Customers have become more empowered and engaged than ever before; they expect transparency and value for money across all channels of communication (digital as well as traditional). This means there is less room for error when it comes to customer experiences.
Building customer reassurance can be the leverage you need
But what is reassurance, and how can you use it to build customer loyalty?
In a nutshell, reassurance is simply showing your customers that they made the right decision by choosing you over your competition. You might think of this as a “we’re here for you 24/7” type of service message. But building customer loyalty using reassurance has other benefits:
- Recurring revenue: If your company is subscription-based or otherwise depends on customers paying month after month (or year after year) for access to products or services, then having loyal customers who are confident in their choice gives you high retention rates — and therefore more recurring revenue. This means more money coming in each month — something every business owner loves!
- Better reviews: Consumers are becoming more aware than ever about businesses that take care of their customers. So if there’s an issue with one of our clients’ products but we fix it quickly and effectively, then word will spread quickly through social media channels — helping us improve our reputation even further!
As a business, to grow your revenue, expand your audience and create a loyal following of customers, it’s crucial to provide peace of mind. You can do this by taking steps towards building trust and customer reassurance by providing protection for them every time they do business with you.
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Traditionally, insurance claims can take up to 30 to 90 days to process and settle. Most consumers who take the extra step to purchase insurance expect that they will be protected if their travel is interrupted, a gadget is lost or goods in transit had an accident. The claims experience is often a crucial part of the customer’s insurance journey. Developing technologies to make the claims process seamless and provide transparency to customers is how Curacel Grow is able to help its partners improve their business, and revenue and reduce claims resolution time.
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