In October, with 2015 lurking just around the corner, it’s frightening to think just how much customer service and the customer experience are impacting the reputation and bottom lines of brands and organizations. While satisfying customer experiences can have scary-good results (increasing customer acquisition, retention, brand loyalty and advocacy), just a single poor customer experience can lead to the unexpected demise of even the longest customer relationship.
According to a recent Customers 2020 Report, by 2020 customer experience will overtake price and product as the key brand differentiator. Customers “will expect companies to know their individual needs and personalize the experience. Immediate resolution will not be fast enough as customers will expect companies to proactively address their current and future needs.”
With this prediction, brands and organizations should be a little scared if they haven’t already planned for improvements in customer service and engagement heading into 2015. But there’s still time…. Here are 13 startling statistics to encourage a bigger and better buy-in for customer service and customer-centric marketing initiatives:
1. Brands in the U.K. are currently losing nearly £15 billion annually due to poor customer service. ~Harris/ClickSoftware Survey
2. U.S. brands are losing approximately $41 billion each year due to poor customer service. ~NewVoiceMedia Study
3. 65% of 1,000 consumers surveyed said they’ve cut ties with a brand over a single poor customer service experience. ~ 2014 Parature State of Multichannel Customer Service Survey
4. Only 14% of respondents in a 2014 CMO survey rated the customer-centricity of their organization as high; and only 11% believe their customers would say the same. ~ 2014 CMO Council Mastering Adaptive Customer Engagements Report Read More