Customer retention should be a top priority for any company. Though this can be difficult when securing new business or managing the various priorities between the marketing, sales, and customer service teams.
There are generally four major reasons why people stick to your business:
- A personalized experience where they feel part of something important
- Friendly employees and customer service reps that truly care for their experience
- Having the chance to be associated with a brand holding excellent reputation
- Transparency and an ease-of-access whether for information or help
These four make the foundation of a great customer experience but one wrong move and the customer that once championed your brand is now on their way out the door.
The following is a selection of customer-centric stats you need to know if you wish to excel at providing customers with the service they need (and desire):
- 86% of buyers will pay more for a better customer experience. But only 1% of customers feel that vendors consistently meet their expectations. CEI Survey
- In 2013, 62% of global consumers switched service providers due to poor customer service experiences, up 4% from the previous year. Accenture Global Consumer Pulse Survey
- 89% of consumers have stopped doing business with a company after experiencing poor customer service. RightNow Customer Experience Impact Report
- By 2020, customer experience will overtake price and product as the key brand differentiator. Customers 2020 Report
- 90% of respondents who recalled reading online reviews claimed that positive online reviews influenced buying decisions, while 86% said buying decisions were influenced by negative online reviews. Dimensional Research
- 70% of buying experiences are based on how the customer feels they are being treated. McKinsey
- A 10% increase in customer retention levels result in a 30% increase in the value of the company. Bain & Co
Eye-opening, isn’t it?
The shift in customer service is now becoming dominated by social media. Customers are out there talking about brands, products, and services each and every second. A company that doesn’t monitor and conduct social marketing campaigns are simply missing the action.
If these are the types of stats you want to be a part of then consider getting in touch with us at adQuadrant. We are masterful of the social marketing industry and can help take your company from one which misses the opportunities to one that is championed for providing an unbelievable customer experience through important channels.