Customer empowerment is a term that has been around for years, but it’s still not widely understood.
But thanks to the rising popularity of customer reviews and the mounting influence of online communication, businesses are fast gearing towards customer empowerment.
They are leaning towards a customer-centric approach and aligning themselves to increase customer satisfaction and retention.
In this blog post, we’ll discuss what exactly it means for customers, why your company should care about empowering them regardless of industry or niche you’re in, and how you can go about giving more control back over their experience!
We also uncover the many tips and tricks on empowering your customers and giving them what they want and need from your company.
Mind you, we’ve ditched the timeworn suggestions and intend to provide you with practical and actionable tips.
So without further ado, let’s dive deeper into ways in which you can improve customer empowerment.
What Exactly is Customer Empowerment
Simply put, customer empowerment is giving customers control over their experience with your brand. It essentially involves providing them with the tools and resources needed to make smarter, well-informed decisions.
Why do you need Customer Empowerment
Okay, we know you’re thinking hard and fast about what this means for you and your business.
What exactly does it mean to empower a customer?
How can we ensure they are empowered? and how can that improve retention rates by 50%?
Let’s explore more about what it means for you and how empowering your customers will help improve business results and create value in today’s world.
Advantages and Benefits of Customer Empowerment
Many advantages come from empowering your customers and collecting feedback from them – here’s a quick list of our favorites!
- Customer empowerment is a customer-centric approach to increasing retention rates by creating better customer engagement .
- Giving more power to your customer involves empowering them with the knowledge that will help them make better decisions.
We have a ton of insights, tips, and tricks on how you can empower your customers and give them control over their experience with you.
But before we delve into customer empowering activities, you need to identify the channels where existing users leave their feedback, and other prospects gather information.
These could be:
- Current buyer reviews and feedback
- Online Product Catalogs
- Websites with Product Reviews
- Richly detailed product information
- Comments on Blogs
- User-generated reviews on Social Media Channels
It must be understood that prospects are on every channel and medium. They’re on the internet, they’re in stores, and they’re even eavesdropping as you interact with coworkers and friends.
Existing users always show their sentiments through reviews about what they like, as most consumers comment via digital platforms like website pages and social media.
So keep your eye open and go all out to empower your customers.
How to Improve Customer Empowerment for Better Customer Retention
The most crucial benefit any business can provide for its customers is knowledge.
Consumers love to research and read existing customer feedback about brands before they engage or transact.
But the issue is that, there is a lot of information online, and there are many ways to access it, leading to information overload.
This is why every business should give customers and prospects all information they require to make an informed action at every touchpoint.
Many businesses fall into the trap of competing with all other information sources that customers have at their disposal, but that’s the wrong approach.
For example, no matter how hard most companies work to build a library of relevant product information, most people will turn to product reviews for end-user information.
So focus on providing richly detailed product reviews that would be hard to find anywhere else.
Why is Customer Empowerment Important
When a customer believes that they understand the product, it is much more likely to purchase. This has implications for both up-selling and marketing in general.
What’s more-as you build a rapport with your customers and satisfy them, it’s likely that they will keep coming back to you. We all know what that means. More money.
Therefore, companies should not just focus on explaining their products but also empowering customers with knowledge about how different features can be used.
How to Retain Customers with Customer Empowerment
Retained customers generate more revenue over a longer period than new ones. No, we didn’t just make that up.
In fact, reports and studies show that retained customers bring in more sales and generate more profit than new ones.
So educating the users with content that empowers them to make the most of your business can be the factor that leads to customer success.
Well, for every first-time customer, there is always huge chance they will not come back.
They may have had a bad experience, got fed up with the product, or didn’t prefer what they were told on the sales pitch, so they decide against your service and go elsewhere.
But in the long run, empowered customers are more likely to be open and honest with companies if they find a problem or feel that the product doesn’t meet their needs.
This makes it much easier for problems to be solved quickly, which leads directly to another importance of empowerment; good customer service and support. Once your customers are happy with the support they receive, a lesser chance they will churn.
Overall, empowered customers are more likely to remain loyal because they feel they have control over what happens, and this way, companies can resolve problems quickly.
Yes, it’s not just sufficient to have a fantastic, more extended product or service. But to make it big, you need to take care of your customers and provide them with the support they want. Rest assured.
What is Customer Churn?
Customer churn is when a customer decides to stop using your product or stop being a paying customer.
The costs of customer churn can vary depending on the size and nature of your business. But you’ll want to reduce it because it means lost revenue, added expense to finding more customers, and a weaker bottom line.
To gauge the severity and put things into perspective, imagine that an individual has multiple subscriptions with your company and cancels one of their subscriptions.
Or worse yet, someone cancels all of their subscriptions at once? This means you will lose more money on what was previously paid in monthly fees and spend a lot more money on acquiring a said customer.
Therefore, the long-term benefits of improving customer retention rates through reducing churn far outweigh its short-term drawbacks, as well as the use of acquiring new customers in terms of increased revenue.
So what’s the way out? We got the answer!
Your businesses must endeavour to reduce customer churn by empowering their customers to build trust with them.
Ultimately, reduce negative customer feedback through calls to support or returns that lead to a higher risk of churn.
All that said, in the end, it is all about giving your customers the freedom and flexibility they need without making them feel frustrated.
You can do this by providing self-serve online resources for your customers instead of forcing them off their own accord.
It is not easy, but customer churn can be improved by considering how people think and what helps empower them through customer satisfaction surveys.
Are you looking for the best customer feedback tool?
SurveySparrow is the best way to get real-time, actionable customer information about your services or product.
We’re not just another survey tool that asks generic questions and gives you canned responses.
Our CSAT surveys are designed to ask specific questions so you can learn precisely what your customers think about your business.
Our executive dashboard makes it easy for executives to see how their teams are performing at any time and build better strategies.
You don’t need more data – you need better data! That’s why we built SurveySparrow with one goal in mind – making it easier for businesses like yours to collect valuable customer feedback, listen to their voice and act on it immediately.
There’s no complicated setup process or expensive software required with us – sign up and start collecting feedback today! It takes just a few minutes to set up a survey using our intuitive interface, then share it with your contact lists or anyone who needs it fast (like your CEO).
So stop wasting time trying out different tools that aren’t tailored specifically for your industry -use automated surveys and focus on growing your business instead of worrying about whether or not people like what they’re getting from you!
Try SurveySparrow for free today!
When you give feedback on areas that are important to your customers, you’re able to find out how they feel about their experience with your company overall and specific aspects like pricing, location, or even quality of products.
After all this input is collected, make sure you review it carefully, so there aren’t any surprises down the line!