Statistics show 93% of customers will pay more if they receive high quality customer service when making a purchase.
CUSTOMER SERVICE FACTS
93% of customers indicated that quality customer service was vital to maintaining brand loyalty. Source: Creative Strategies
A 5% increase in customer retention can increase profits by 25 - 95%. Source: Bain & Co
Companies that make customer service a high priority see twelve times the return on sales than those companies with a low emphasis on service. Source: International Customer Service Association
Only 1 out of 25 dissatisfied customers will express dissatisfaction. Source - Business e-coach
68% of customers stop doing business with a company because of poor service. Yet 95% of dissatisfied customers would continue to do business with a company if their problem was solved quickly and satisfactorily. Source: International Customer Service Association,
Reducing customer defections can boost profits by 25-85%. In 73% of cases, the business made no attempt to persuade dissatisfied customers to stay; even though 35% said that a simple apology would have prevented them from moving to the competition. Source: NOP
1% reduction in customer service issues could generate an extra $40m in profits for a medium-sized company over five years Source: NOP
70% of customers left because of a lack of attention from front-line employees. Source - International Customer Service Association
Two-thirds (or 66%) of customers do not feel valued by those serving them. Source - Business e-coach
6-7 times more expensive to gain a new customer than it is to retain an
existing customer. Source - Bain & Co study in the Harvard Business
Happy customers tell 4 others of their positive experience.
Dissatisfied customers tell 12 how bad it was. Source - Business e-coach