Customer service is an integral part of any successful business, but many people may not realize just how important it is. Here are 5 facts about customer service you may not have known:
Customers Will Pay More for Good Service
According to a study by American Express, customers are willing to pay up to 17% more for products and services if they receive excellent customer service. This means that investing in customer service can actually increase your revenue and improve your bottom line.
Good Customer Service Improves Customer Loyalty
A study by Zendesk found that 82% of customers stopped doing business with a company after a bad customer service experience. On the other hand, customers who have a positive experience with a company’s customer service are more likely to remain loyal and continue to do business with that company.
Social Media Has Changed Customer Service
Social media has revolutionized the way businesses handle customer service. According to a survey by Sprout Social, 90% of people have used social media to communicate with a brand, and 34.5% prefer social media over traditional customer service channels like phone and email.
Customer Service Can Impact Brand Reputation
Bad customer service can have a significant impact on a company’s brand reputation. A study by NewVoiceMedia found that U.S. companies lose approximately $62 billion annually due to poor customer service. In addition, customers are more likely to share their negative experiences with others, which can damage a company’s reputation.
Employee Training is Key to Good Customer Service
Providing excellent customer service requires well-trained employees. A study by McKinsey found that companies that invest in employee training and development have a 37% higher customer satisfaction rate than those that don’t. By investing in employee training, businesses can improve their customer service and ultimately increase their bottom line.
In conclusion, customer service is a crucial component of any successful business, and investing in it can have a significant impact on a company’s revenue, customer loyalty, brand reputation, and employee satisfaction. By understanding these facts, businesses can prioritize customer service and take steps to improve it.
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