Numerous studies have established a direct link between poor customer service and loss of customer loyalty.
But what is poor customer service?
It manifests itself in unjustifiable delays, such as long response times to messages or e-mails, interminable waits, missed calls that are not returned, or even the simple oversight of a waiting customer. Attitudes, such as not smiling during exchanges, not respecting schedules and so on, are also part of the problem. When your customers discover a more satisfactory service from your competitors, they invariably head there.
What is the cost of a lost customer?
Let’s turn the question around: how much does it cost to acquire a new customer? It can cost up to 25 times more to find a new customer than to retain an existing one. So it makes financial sense to invest in customer service quality. Not to mention that quality customer service confers a significant competitive advantage. What’s more, a loyal customer who warmly recommends your company pays off handsomely. In a tough economy, guaranteeing quality customer service is crucial to your company’s longevity.
Remember that :
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Only 4% of customers report their dissatisfaction to the company.
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96% of dissatisfied customers leave without returning. Of these, 91% will never return.
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Your dissatisfied customer informs between 8 and 10 others.
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1 in 5 of these dissatisfied customers will inform up to 20 others.
Finally, even if sometimes your service isn’t perfect, by quickly correcting the problem, 95% of people will be ready to continue working with your company and will tell 5 people favorably about it.
