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Impact of Customer Service on Consumer Behavior

Grexit
November 05, 2014

Impact of Customer Service on Consumer Behavior

It's never been about products, services, or brands. It was, is, and always will be about people. Business depends on people too. Here are the numbers as to how customer service impacts consumer behavior.

Grexit

November 05, 2014
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  1. When choosing a new product or service the consideration for

    GOOD SERVICE outweighs PRICE by almost 2X Source: Verint - Is Service the New Marketing
  2. MULTIPLIER EFFECT OF SOCIAL MEDIA 58% respondents are much more

    likely to share share their customer experience than they were 5 years ago GOOD Source: Zendesk Customer Service and Business Results
  3. MULTIPLIER EFFECT OF SOCIAL MEDIA Owing to Negative Bias, people

    are likier to talk about poor experiences more than positive ones BAD
  4. has the same effect on the company’s revenue as Source:

    Leading on the Edge of Chaos, Emmet Murphy and Mark Murphy 10% decrease in cost 2% increase in customer retention
  5. Source: RightNow Consumer Satisfaction Report 86% respondents in a survey

    said they completely stop doing business with companies due to bad customer experience
  6. ! 96% of unhappy customers don’t complain ! 91% of

    those will simply leave and never come back Source: 1st Financial Training services
  7. On average, the overall worth of ! loyal customers =

    10X their first purchase Source: White House Office of Consumer Affairs
  8. When purchasing online, 71% of visitors expect help within 5

    minutes Source: LivePerson – What Customers Expect When It Comes to Customer Service
  9. 84% companies expect to increase focus on customer experience measurements

    and metrics Source: Temkin Group - Data Snapshot: CX Expectations and Plans for 2014