Many passionate entrepreneurs put enormous efforts in their start-up businesses; nevertheless over half of them will fail within the first five years according to statistics. Josh Cote at EA Worldwide Acquisitions believes that customer service can impact and perhaps even determine the level of success a business experiences.
New research reveals that only about half of business owners, 53%, believe that customer service has become more important over the past twelve months (businesszone.co.uk). “These figures are alarming considering that the competition within many markets is high. I think focusing on providing excellent and personalised customer service can be a key differentiator,” says Josh Cote, managing director of EA Worldwide Acquisitions. “Consumers have many options to choose from. If they don’t like their shopping experience, they will go elsewhere,” Josh Cote continues.
New entrepreneurs especially have to overcome many challenges, particularly in the beginning stages of starting a business. “I remember well, when I first opened my own company, there were so many things going on,” says Josh Cote. In fact, only 44% of UK businesses survive the first five years (barclays.co.uk). In order to better understand the importance customer service can have on a business, Josh Cote recommends certain initiatives described in the book ‘Managing Knock Your Socks Off Service’ by Chip Bell and Ron Zemke (entrepreneur.com)
It is crucial to be surrounded by positive people who are willing to make customers happy by providing high quality service. Creating a clear service vision helps people to understand the value of customer service. “By engaging with the customers, brands can get to know people more intimately,” says Josh Cote at EA Worldwide Acquisitions. Start-up entrepreneurs need to set the tone and be clear about the service mentality they want to introduce. Poor customer service only results in reduced profits and low morale. In reality, 90% of UK shoppers walk away without buying if they receive bad service; a study by Market Force Research has found (businesszone.co.uk). Customer service is not only about handling expectations anymore which can be dealt with later. It has become a core process that must be up and effective from the start (entrepreneur.co.uk).
EA Worldwide Acquisitions is an outsourced sales and marketing company based in Central London. Its direct face-to-face approach with the consumer provides opportunities to receive valuable information directly from the customer. “Building relationships with customers helps us find out more about their needs and wants and they will provide us with feedback about previous purchases that we can forward to our clients who can act on it immediately,” explains Josh Cote. Such connection with the consumer is what makes the difference. “Hopefully, many entrepreneurs will start focusing more on their business’ service mentality and hence increase the percentage of succeeding start-ups in the coming years,” summarises Josh Cote.
