Customer satisfaction key to thriving amid economic uncertainty – Business experts

As Nigeria navigates through a crippling economy that has challenged businesses and strained resources, quality customer service has been identified as a means of exploring best practices and innovative approaches not just to meet customer expectations but to exceed them.

At Tuesday’s annual Customer Care Summit in Lagos, business and industry experts echoed this thought and underscored the importance of investing in customer care.

Themed “Winning with Service,” the event showcased innovative strategies for exceeding customer expectations in difficult times.

Ope Wemi-Jones, renowned customer service expert and convener of the event, cited a recent report by Zendesk. This software company revealed that companies offering excellent customer service retain 89 per cent of their customers while those with poor service retain just 33 per cent.

‘‘These numbers highlight how crucial customer satisfaction is, not only for survival but for long-term growth. Customer service is no longer just about transactions; it’s about building enduring relationships. This emphasis on the importance of the audience in building enduring relationships leaves them feeling valued and integral to the business,” said Ms Wemi-Jones.

The Lagos State Consumer Protection Agency General Manager, Afolabi Solebo, who represented the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, delivered the keynote address.

He emphasised how customer-centric companies can thrive even in turbulent economies. “When organisations understand and cater to customer needs, they not only survive but win in challenging times,” he said.

Mr Solebo warned against relying solely on price cuts, which may offer short-term relief but ultimately fail to build long-term loyalty. “Only those focused on service quality will secure customer loyalty that lasts.”

Technology leverage

Christoper Ogirri, associate director at KPMG, discussed the need for businesses to leverage technology, especially artificial intelligence, to enhance service delivery.

“Companies that adopt AI and other technologies will have a competitive edge in meeting customer expectations,” Mr Ogirri said, urging African tech companies to create cost-effective solutions tailored to the continent’s needs. He also emphasised the importance of cybersecurity, calling for “deliberate strategies to prevent and mitigate cyberattacks.”

Ini Abimbola, a management consultant, commended the summit’s organisers and called for regular discussions on customer care as a critical business activity. She urged businesses to initiate programs that reduce customer complaints and enhance overall satisfaction. Folakemi Fadahunsi, CEO of Retail Supermarkets Nigeria Limited, echoed this sentiment, reminding companies that customer service involves every employee, not just frontline staff.

Ms Fadahunsi also cautioned against the rising trend of customers resorting to social media complaints, encouraging them to explore formal avenues first. “Customer care is delicate, and companies need to address grievances quickly and effectively before they escalate,” she said.

The event featured panel discussions, debates, and presentations on topics like emotional intelligence and customer communication, all reinforcing the role of customer service in driving business success.