Why your customer service boosts your bottom line

Can the quality of your customer service actually determine the future success of your company? There are many who say a resounding yes. Keeping your customers satisfied, and building your brand awareness and reputation, is no easy task. Knowing what they really need and want is what will lead to exceptional customer service. In some recently released research by Zippia, it highlights just what your customer’s needs and wants are. The following is taken directly from that research:

  • 42% of customers are willing to pay more when offered a friendly, more welcoming customer experience.
  • When given a positive customer experience, 72% of customers will share their experience with six or more people.
  • Improved CX can increase company revenue by 10-15%.
  • Following a poor customer experience, up to 89% of consumers have switched to a competitor.
  • When making a purchase 64% of consumers consider customer experience to be more important than price.
  • 89% of companies compete primarily based on CX.
  • 40% of customers prefer self-service over human contact.
  • 92% of consumers trust positive reviews from friends and family more than advertising.

Kenneth H. Blanchard Quote: “Customer service should not be a ...

  • Of those who experience a positive CX, 77% will recommend the brand/company to a friend.
  • 32% of customers will stop doing business with a brand they love after a bad CX.
  • Following a poor customer experience, up to 89% of consumers have switched to doing business with a competitor.
  • U.S. companies lose roughly $75 billion per year to poor customer service.
  • A massive 96% of customers say that customer service is an essential factor in brand loyalty.
  • 66% of consumers expect companies to understand their needs.
  • Of the companies that focus on CX, there’s an 80% increase in revenue.
  • On average, companies that prioritize CX achieve 4-8% higher than their competitors.
  • Companies that focus on CX have 1.5 times as many engaged employees.
  • Companies that focus on CX are 60% more profitable.

-Written by Kevin Sawyer