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Is Your Business at Risk?

Is your business at risk of losing 60% of its customers? No matter the size of a business, excellent customer service needs be at its heart if it wishes to be successful.

 

A holistic approach should be taken with a view to providing great service to all customers, including potential, new and existing.
We constantly hear about the demands of today’s customers; they expect a more personalised experience and customer service is certainly part of this. However whilst many companies concentrate on delivering the right message, or perfect shopping experience, customer service is often overlooked which can certainly be a costly oversight.
Our 2015 report on Customer Service highlighted that 60% of customers had switched away from a brand or company due to a poor customer service experience.
In a recent statement, Mark Jonston of The Chartered Institute of Marketing, said “Research shows that it can cost up to 30 times as much to get a new customer as it does to keep an existing one.”
The marketplace continues to become more and more competitive and acquiring new customers is increasingly more challenging so providing a service which can help retain customers should be top of the agenda.
Our research looks at the impact CS experiences can have on customer perceptions of, and interactions with, a business. With Customer Experience still top of the agenda for many and with service being an important element of that, Allto Consulting will be running a duplicate study of the 2015 Customer Service research piece, to see how things have changed for the better….or worse.
Last year 75% of people claimed to have become more loyal to a company or brand as a result of a good customer service experience – two-fifths specified a bank or building society in this context.  On the flipside, we found certain sectors to be significantly more vulnerable to losing business if their customer service standards were not up to scratch. A relatively large proportion of respondents said they could fairly easily be prompted to switch mobile network or utility supplier due to a poor experience.
This years’ study will again look at how loyalty is affected by customer service and we will compare this across various sectors. Thanks to some fantastic client contributions, we have included a customer satisfaction index score which will help benchmark industry service performance across different channels and complexity of issues.
Telephone communication was the much preferred method of contact last year, and Livechat was the favoured emerging service channel so it will be interesting to see if/how preference has changed, and how customers rank traditional methods against emerging technologies such as Video Chat and AI.
If you would like to receive a copy of our upcoming Customer Service report, please contact dale@allto.co.uk