BARE Shares – Poor Customer Service Is Costing You Customers
BARE International, the most trusted name in customer experience research shares an article from Media Post – Poor Customer Service Is Costing You Customers.
‘A company that provides poor customer service is running a great risk of losing a large percentage of its customer base.
According to new research from Accenture, 52% of customers have switched providers across all industries due to poor customer service. In all, the estimated cost to U.S. businesses of customer switching is about $1.6 trillion, the company estimates.
“It’s a major economy in and of itself,” Robert Wollan, senior managing director of advanced customer strategy at Accenture, tells Marketing Daily.
Of those customers who have switched providers in the past year, more than 80% felt the company could have done something to retain them with better live or in-person customer service. Indeed, 45% of consumers say they are willing to pay a higher price for goods and services if it ensured a better customer service experience, particularly if that experience involves a human interaction.
“[Companies need to] take a hard look about whether they’re getting the balance right between digital and human interaction,” Wollan says. “It would be a mistake to think mediocre digital would outpace human interaction.”
Much of the overall problem comes from a rising expectation across all industries for great customer service, he says. If a consumer can get great customer service in one sector (say electronics), they don’t understand why they can’t get it in another (say, food). That leaves underserving companies open to losing business, he says.’
Read the full article here.
BARE’s Customer Satisfaction Toolkit includes in-person exit interviews to gather opinions from customers while their experience is still top of mind, plus social media scanning, real time interactions and online satisfaction surveys to provide a thorough and valuable insight into every area of your company’s operations.
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