Pareto Global Associates
announce the implementation of a new business strategy which aims at further improving customer care which the firm expect will improve revenue by 20% in just 12 weeks.
1st April 2013 saw Pareto Global Associates roll out a new customer care strategy that they claim will improve profits as well as ensuring customer satisfaction. “In a saturated market it is important to stand out from the crowd,” states Cyril Williams, Director of Pareto Global Associates. “I personally feel that most direct marketing companies are wholly focused on customer acquisition, without following through with customer service. The aim is that our new customer care strategy will give us a point of difference from all other direct marketing firms in our marketplace. I am confident that improving customer satisfaction will improve revenue by 20% by the 3rd quarter of 2013”.
Outsourced sales and marketing firm Pareto Global Associates
understand that customer care is important not only to improve a business’ credibility but also to improve their bottom line. Research from Customer Relationship Management software firm Salesboom reveals that an increase on customer satisfaction by 1% translates to 11.5% growth of ROI over the course of 5 consecutive years. Branding Strategy Insider reports that a 5% improvement in customer retention can increase profits up to 125%. In contrast, a report by Genesys Telecommunications Laboratories Inc. which reveals that 73% of customer relationships were ended because of a poor customer experience, and the total cost to UK businesses is £15.8 billion a year. “This information was what prompted our customer care strategy,” explains Cyril Williams of Pareto Global Associates. “We realised that customer satisfaction correlates with customer retention, which makes a huge difference to our clients’ - and by extension our own - profits.”
Pareto Global Associates report that the new customer care strategy has been integrated well with the firm’s existing processes. The focus of the policy is to improve consumer satisfaction at the point of sale by ensuring the customer’s full understanding of the follow-up process. “The changes we have implemented have been small in scale. It’s about the brand representatives just taking a little extra time to ensure all the customer’s needs are met. It’s typically British not to ask questions or raise issues unless prompted, which unfortunately can leave customers dissatisfied with the brand. Our customer care procedure resolves any concerns, leaving customers happy and more likely to stay loyal to the brand,” says Cyril Williams, Director of Pareto Global Associates.
Pareto Global Associates will release results by late July of how this strategy has influenced growth. Early indications suggest that the firm is on track to hit their goal of improving profits by 20% by the third quarter of 2013.
Pareto Global Associates are an event sales and marketing firm based in Liverpool. The firm recently moved from Bradford to benefit from a larger target market.