Mergers & Acquisitions: does customer service suffer?

The usual suspects continue to jump on the Merger & Acquisitions bandwagon, cherry picking the best up and coming companies. However, it is happening more and more frequently (and I shall mention no names, to protect my legal position!) that the bigger company buys the smaller company, which has carefully cultivated their own positive reputation in a particular field and has an envious customer base or product.   The bigger company then leaves the smaller company alone for a few months, ‘taking stock’ of its new asset, then generally jumps in and tries to assimilate the smaller company, to change the core values.

Mergers and acquisitions can dramatically affect the level of customer service provided by the company being merged or acquired. They can lead to the termination of sales positions, lost client relationships and confusion over names or branding. Mergers of service companies may lead to billing errors and overwhelmed customer service staff, which can lead to disgruntled clients and compromised profits. This in turn often drives out the good people, and then the founders generally leave as they complete their ‘earn out’. The smaller company ends up as a division of the larger company and the usual lack of support or understanding ensues until the smaller company’s core values are lost entirely. At least the smaller company’s founders are generally a few quid richer!

Some of these acquisitive, larger companies sit in Securus’ market space, and the seeming lack of regard for a customer-centric focus actually helps us out. We find that there is an almost endless stream of unhappy customers from the large companies looking for service-focused companies who actually remember what the customer wants and treats them as the prized asset that they expect to be.

Securus has a 97% customer retention ratio and we have renewed every single customer in 2016 that was at the end of their contract term.  None of our customers wanted to look elsewhere or even suggested getting the price down. We must be doing something different to the larger conglomerates and our customers seem to like that difference.

Sometimes you have to rewind the clock and try to recall the fundamental objectives that your business started with: what did you aim to do and how did you aim to do it? This will identify and help articulate the customer experience, which in the case of Securus, is focusing on great and reliable service.

Providing exceptional customer service is an essential part of every business. In today’s extremely competitive marketplace, consistently exceeding customer expectations is the best way to separate yourself from the competition and retain customers.

As an independent provider, service delivery is at the forefront of all Securus’ IT solutions: we will give you an unbiased view of the current and future technologies available and, with our own data centres and core network, we are able to provide unprecedented quality of service. That is what makes, and keeps, our customers happy.

To find out more about how Securus can offer your business the level of service you expect from a network provider, call us today on 03451 283457.