How Providing Excellent Customer Service Makes You More Money.
David Brownlee🎤
2X #1 Best-Selling Author, Fortune 500 Speaker, LinkedIn Learning Instructor - 1.5M+ Students, Peak Performance & Executive Coach and Corporate Trainer - Helping athletes, entertainers, executives & their teams to win.
There are many statistics that show the importance of providing excellent customer service for businesses to make more money. Here are a few examples:
2. Positive word of mouth is powerful: According to a study by Nielsen, 92% of consumers trust recommendations from friends and family over all other forms of advertising. This means that if you provide excellent customer service, your satisfied customers are likely to spread the word about your business to others, which can lead to more sales and revenue.
3. Poor customer service can drive customers away: According to a study by New Voice Media, 75% of customers believe it takes too long to reach a live agent when contacting customer service, and 33% of customers say they would consider switching to a competitor after just one instance of poor customer service. This means that if you don't provide excellent customer service, you risk losing customers and revenue.
4. Happy customers are more likely to make additional purchases: According to research by Help Scout, customers who have a positive experience with a business are 86% more likely to make additional purchases from that business. This means that if you provide excellent customer service and make your customers happy, they are more likely to buy from you again in the future.
In summary, providing excellent customer service is crucial for businesses that want to make more money. By retaining customers, generating positive word of mouth, avoiding customer churn, and encouraging repeat purchases, businesses can increase their revenue and profitability
Want to find out how you can increase your organization’s revenue through delivering excellent customer service? CLICK HERE TO FIND OUT HOW
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By,
David Brownlee
CEO, The Brownles Group Customer Service Training Company
2X, #1 Best-Selling Author, Speaker and Trainer
Owner / Certified Wedding Planner™ @ Cherish Events and Design LLC
1yI have a question, if you don’t mind. This has always been my perspective, and I never forget a great or poor customer service interaction. Lately, however, I am constantly hearing about companies that are passing on their higher expenses to consumers. For example, the issues with the Panama Canal. Also, water and utility companies making consumers pay to cover costs like replacing antiquated systems, funding new facilities that aren’t even being built yet, and much more. So, how do things like this relate to your perception of customer service and satisfaction? I know that if I decide to install a bad product, replace a faulty part in my car, or make any other error that it’s my responsibility. I can’t just pass it along to an unwilling client. Does responsibility affect the outcome of customer service? Thank you in advance.
Experienced Casino and Gaming Specialist | Expert in Customer Escalations, Training, and Crypto
1yWhile excellent customer service is essential for building and maintaining customer relationships, it is not the sole factor that determines the financial success of a company. Providing great customer service alone may not be sufficient if the company's products or services are subpar or do not meet customer expectations. In practice, a company needs to offer quality products or services that fulfill customer needs and provide value. Customer service should complement the overall experience by addressing customer concerns, providing assistance, and ensuring customer satisfaction. However, if the core product or service is lacking, even the best customer service may not be enough to generate significant revenue.