No matter the type of product or service a company offers, the success of the business hinges almost entirely on its ability to provide a quality customer experience. After all, even the most feature-filled offering is unlikely to attract much interest if obtaining it requires buyers to go through an unpleasant purchasing process.
In addition to simply driving sales, improving the service a company provides to clients can also greatly reduce client turnover. For example, the Government of South Australia’s Consumer and Business Services asserted that around 70 per cent of customers with complaints will employ a company’s services again if the enterprise is able to resolve the issue.
Improving retention rates by 5 per cent can increase profits by 95 per cent.
This ability to retain clients can have significant financial benefits. In fact, Women’s Network Australia went so far as to say that improving retention rates by just 5 per cent can result in an increase of profits of up to 95 per cent.
Enterprises big and small across a range of industries understand the importance of fostering positive customer satisfaction, but achieving it is no easy feat. This is largely due to the fact that it requires employees at all levels of the organisation to have the client at the forefront of their mind at all times.
Understanding the trickle down effect
As with many elements of business, decision makers who want to improve customer satisfaction need to lead by example. Why? Well, as Forbes contributor Blake Morgan explained, the vast majority of modern companies are based on a ‘waterfall’ model, which effectively means that principles, standards and expectations that are set at the top of the business trickle down through managers, supervisors and front-line employees.
In many ways, Pacific National adheres to this philosophy, and as a result our focus on improving the customer journey has become a core objective for workers throughout the business. This shared vision is vital to our success, as every member of our workforce has the potential to influence the client’s overall experience. Whether our employees are directly responsible for the impact or are part of a chain reaction with indirect consequences, we’re not exaggerating when we say that every single Pacific National employee has the power to positively or negatively shape the customer’s journey.
One such employee who has had an immediate impact on our clients is Heidi Bailey Powell, who manages the accounts of some of our most valued clients in the mining sector.
How has Heidi had a positive impact on her clients?
In the dynamic coal mining industry, companies need to know they have a delivery partner they can rely on. This is particularly true in Queensland, where a perfect storm of high demand and low commodity prices means that mining enterprises are concentrating more than ever on improving efficiencies and implementing cost reduction practices.
One of Heidi’s clients explained how Pacific National has helped their company to remain competitive in a challenging economic climate:
“When we deal with Pacific National, they understand what is important to [us] as a business. Pacific National is flexible and able to react at short notice to changes in the Day of Operations environment, which results in a positive impact on our business, for example, in demurrage management. Pacific National hears our voice.”
“Our Account Manager is accessible and able to resolve any issues and provide information in a timely manner. [Pacific National] is aware of the day-to-day items that matter to [us] from an operational and an industry wide perspective. Planning and Live Run are proactive and are able to assist us in the Day of Operations environment as required. [We have] a direct line of communication to the areas of Pacific National that we need to engage with.”
Ensuring that the entire workforce from top to bottom is committed to the customer is an integral part of a business’ success. Employees at every level of Pacific National have the power to influence the customer journey, and consequently we’re doing our best to ensure that our entire workforce is moving towards meeting the same client-oriented goals and objectives.