Mark Sparks is a well-known entrepreneur with the primary focus of being principal to numerous startup companies. From a software company that sold $200 million worth of product per year to an insurance holding company built to nearly a billion dollar market cap, Sparks has experience in a wide range of enterprises. With his founding of Timber Creek Capital, a private equity firm, Sparks is able to take a startup company’s initial idea and develop goals as well as growth plans that will ensure success. Aiding in the development over over sixty start-up businesses since the 1970s, Sparks knows a thing or two about the how customer service plays a pivotal role in a booming business or complete failure.
In the summer of 2014, Marc Sparks: The Importance of “Quality” Customer Service was featured in Marc Sparks of Business. The blog covers how many companies throw the phrase “quality customer service” around without standing behind the meaning of the collection of words. This concept is applied unilaterally throughout the world of business in order to successfully resolve issues, find solutions, and provide assistance that will keep clients coming back. However, this is much easier said than done. Companies that have a team of well-trained staff should be able to tackle any problem without the need to escalate. Businesses do not exist without customers so investment of this training takes significant time, energy, and resources that will ultimately prove fruitful to the accumulation of an extensive client base.
Let’s think of customers as brand ambassadors who are generally loyal to the business they voluntarily choose to work with. Experiences are relayed whether positive or negative and happy clients are more likely to refer friends and colleagues, increasing business over time. The effort that employees choose to put forth to keep customers happy stems from the overall attitude of serving client needs within the organization. Similarly, if a client is required to spend money which results in a favorable experience, they are more likely to return to a business they know and have a positive association with. Quality customer service is directly related to the retention and loyalty of clients.
In general, customer service in the vital ingredient that enables a company to maintain profitability and continued success in the diverse and competitive market that exists today. If a business fails to provide this, the likelihood of a client continuing as a patron is doubtful and with the open access of internet and word of mouth, their negative experience is likely to be broadcasted, preventing further referrals.
Source: Marc Sparks Blog