Customer service is key to any business, and it’s especially important for businesses that rely on customer transactions. A bad customer experience can lead to lost customers, which can ultimately have a negative impact on your business. You can also navigate here to know more about customer services from online sources.
Here are three reasons why customer service is so important:
1. Customer retention. A study by the Aberdeen Group revealed that companies with high customer service ratings retain 78% of their customers versus only 54% for companies with low ratings. This means that good customer service can keep your most loyal customers from switching to competitors.
2. Increased revenue. According to the Aberdeen Group, companies with high customer service ratings generate an average of $3,000 more revenue per employee than those with low ratings. That’s because good customer service makes it easier for customers to resolve problems and get their issues resolved in a timely manner – which leads to satisfied customers who spend more money.
3. Reduced churn rates. According to research by the Radicati Group, a company’s churn rate is directly correlated with its level of customer service quality. The lower the churn rate, the better – which is especially true for businesses that rely on recurring
Customer service is one of the most important aspects of running a business. If your customers don't have a positive experience, they'll likely go elsewhere.