As products and services become more commoditized, competition is increasingly global, and high product quality is no longer a differentiator, the potential reward for providing excellent customer service becomes ever greater. As noted here recently, having “happy customers (leads) to higher profitability and stock price.”
The costs of poor customer become greater as well. According to the latest customer service statistics, just 1% of customers ” feel that their expectations of good customer service are always met.” Meanwhile, 86% are willing to pay up to 25% more for a better customer experience.
Among other findings regarding the frustration caused by poor customer service:
- 84% of customers say that their expectations had not been exceeded in their last customer service interaction.
- 82% of consumers have stopped doing business with a company because of bad customer service.
- 58% will never use the company again after a negative experience.