Everyone knows that customer retention is essential for an organization to succeed. How you hang on to your customers and keep them coming back isn’t always as cut and dried. According to the annual Customer Experience Impact Report (CEI), customer service is the lynch pin in whether your customers continue doing business with you (and encourage others to) or take their business elsewhere (and recommend that others do the same).
- 85% of CEI respondents said that they would be willing to spend more than the standard product price if it came with a superior customer service experience.
- 55% of respondents said that they became a customer of a company because of its reputation for customer service
- 55% of consumers recommended a company because of its customer service
So if customer service is the key to winning new business, making the most of that business, and turning customers into evangelists, you may be wondering what the price of bad customer service is. According to the CEI results, it’s steep.
82% of customers have stopped doing business with a company due to a negative experience. When asked what negative experiences caused them to stop doing business with that company, the responses* were:
- 73% was a reaction to rude staff
- 51% reacted to unknowledgeable staff
- 55% were because of issues that weren’t resolved in a timely manner
79% of customers who have had a negative experience with a company told others about it.
While companies have a lot to lose by delivering bad customer service, they stand to gain a lot by delivering exceptional customer service. When asked how companies can encourage consumers to spend more*:
- 66% said improved customer service
- 61% said accessible information and availability for questions before making a purchase
- 23% said a tailored shopping experience
Fortunately, all three of these feats can be assisted by a full-featured customer relationship management solution, like Microsoft Dynamics CRM. A CRM solution like Microsoft’s delivers customer information, case management, service history, and support knowledge directly to customer service representatives and supervisors, giving them the tools to deliver consistent, efficient service that enhances customer loyalty and organizational profitability. The tools within Microsoft Dynamics CRM enable you to deliver superior customer service by utilizing multiple interaction channels, including phone calls, email messages, in-person communications, and self-service web sites to quickly create, manage, and resolve service issues.
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*Multiple responses were permitted and are reflected in the percentages
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