Getting a hold of some quick customer service facts and statistics is going to give you a better picture of the customer success niche. It’s a given that every business wants to offer only the best customer experience to their prospects. And in such a case, rendering your best foot forward in customer service will give you a definite upper hand.
Your reputation is what decides how far your business is going to go. This reputation depends solely on the experience you cater to. Also, that should never be understated, considering the fact that it makes or breaks a deal. This is why you as an organization must familiarize yourself with the below customer service facts and statistics.
But first, let us brush up some basics.
What is Customer Service?
Customer service in simpler terms is the support that you render to your customers. It starts even from their purchase from you. World-class customer service helps retain clients and cuts down your churn rate to a good extent. It is also a measure of customer success in your company as that is the one that frames the right picture of your brand. Further, it is an absolute criterion for competing efficiently and keeping yourself ahead of others.
- Consumers are 2 times more likely to share their bad customer service experiences than their good ones. (Source: Salesforce.com)
- Nine in ten Americans use service to gauge whether or not they will do business with a company. (Source: Trustpilot)
- An estimated $41 billion is lost by U.S. companies alone each year due to poor customer service. (Source: SocialMediaToday.com)
- 84% of customers report that their expectations had not been exceeded in their last interaction with customer service. (Source: Harvard Business Review)
- 49% of American consumers switched companies last year due to poor customer service. (Source: Vonage)
- 82% of customers have ceased business with a company because of poor customer service. (Source: Zendesk)
- 80% of Americans agree that smaller companies place a greater emphasis on customer service than large businesses. (Source: LiveHelpNow.com)
- 91% of customers who had a bad customer experience won’t willingly do business with your company again. (Source: Glance)
- 73% of customers fall in love with a brand because of friendly customer service representatives. (Source: Slideshare)
- 54% of customers used email for customer service last year, making it the most used digital channel for customer service. (Source: Forrester)
- Only 1% of customers feel that their expectations of customer service are always met. (Source: Slideshare)
- A customer is four times more likely to switch a competitor if the problem they’re having is service-based. (Source: Bain and Company)
- 50% of customers will wait one week for a customer service representative response before they stop doing business with that brand. (Source: Slideshare)
- Businesses can grow revenues between 4% and 8% above their market when they prioritize better customer service experiences. (Source: Bain & Company)
- 67% of customers hang up the phone in frustration when they cannot reach a customer service representative. (Source: Glance)
- 73% of consumers say that valuing their time is the most important thing a company can do when providing customer service. (Source: Groovehq)
- 72% of customers will tell 6 people or more if they have a satisfying experience. (Source: Esteban Kolsky)
- 66% of adults feel that valuing their time is the most important thing a company can do to provide them with good online customer experience. (Source: Forrester)
- 67% of customers report a bad customer experience as the reason for switching businesses. (Source: Esteban Kolsky)
- When it comes to making a purchase, 64% of people find customer experience more important than price. (Source: Gartner)
- After having a positive experience with a company, 77% of customers would recommend it to a friend. (Source: XM Institute)
- 50% of customers have left a brand for a competitor who was able to stay more relevant and better satisfy their needs. (Source: InMoment)
- It takes 12 positive customer experiences to make up for one negative experience. (Source: Glance)
- 70% of the customer’s journey is dictated by how the customer feels they are being treated. (Source: Industry Analysts)
- 75% of customers desire a consistent experience regardless of how they engage a company, e.g. social media, in person, by phone, etc. (Source: Salesforce)
- 80% of businesses use customer satisfaction scores to analyze customer experience and improve it. (Source: Harvard Business Review)
- 72% of companies believe they can use analytics reports to improve the customer experience. (Source: Insight Squared)
- 71% of consumers (age 16 – 24) believe that a quick response from your service team can drastically improve their customer experience. (Source: Comm100)
- You have a 60-70 percent chance of selling to an existing customer, while you only have a 5-20 percent change of selling to a new prospect. (Source: Glance)
- 79% of customers who share their complaints online see their complaints ignored. (Source: Slideshare)
With customer service facts and statistics in mind, it brings out convenience to see how customer experience can be revamped. It all begins when you believe in customer-first centricity. Moreover, note that it is customer service that decides your rate of success, churn, retention, loyalty, and expansion.
That is exactly what your customer demands of you – respect and appreciation. They want to know that you care for them. Therefore, don’t let a negative interaction with one of your customers trigger a churn away step. Finally, it is a positive customer experience that calls for a win-win for all.