Many times companies believe adjusting prices will make a significant difference, when in fact 86% of customers would actually pay more for better customer service.
We all know that customer service can have a huge impact on your business and there are a ton of metrics out there, so we’ve compiled a simple, tweet-sized list of the top 10 shocking stats about customer service;
1) The amount of money US Enterprises lose because of poor customer service is enough to match the GDP of Syria, Croatia, Bulgaria and Vietnam, collectively every single year. [Tweet this!] (Source: Parature)
2) The percentage of people that trust customers’ recommendation compared to direct mail is higher than the percentage of high school graduates each year. [Tweet this!] (Source: Forrester)
3) The percentage of customers a company loses due to bad customer experience is equivalent to losing the entire population of the US with the exception of Texas. [Tweet this!]( Source: RightNow)
4) Average annual value of each customer relationship lost to a competitor is equivalent to the cost of a roundtrip flight from NYC to LA. [Tweet this!] (Source: Genesys Report)
5) There’s a higher percentage of being killed by lung disease than for a customer to stay with a business with unsatisfactory customer service. [Tweet this!] (Source: RightNow)
6) For every 10 complaints, there is a customer population of a full Boeing 777 airplane that leaves a company to join its competition. [Tweet this!] (Source: “Understanding Customers”)
7) The percentage of people that list customer service as their top priority when looking for a brand is higher than the amount of low-income households in the US. [Tweet This!] (Source: Forrester)
8) About 13% of dissatisfied customers will individually tell an entire classroom-size full of people about their experience. [Tweet this!] (Source: White House Office of Consumer Affairs)
9) A 5% increase in customer retention increases profits up to 125%.[Tweet this!] (Source: Kapow Events)
10) More people prefer online chat/e-mail service than visit a dentist in the US. [Tweet this!] [Source: American Express]
Overall, the difference in changing poor customer service to great is monumental. Making your business one of the clicked links on the front page of a search could be as simple as fixing your customer service.What do you think about these business-life-changing statistics?