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
  
  
• “It’s 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 Review
  
  
• “Happy customers tell 4 others of their positive experience.”
  “Dissatisfied customers tell 12 how bad it was.”
  Source - Business e-coach