There is a high price to pay for poor customer service, while conversely, there is money to be made from consistently delivering an exceptional customer experience. The challenge on both sides is that customer expectations have never been higher for service and support. According to Accenture’s 2012 Global Consumer Pulse Research:
- 63% of consumers point to service as the most important factor in their choice of a brand.
- 44% have higher customer service expectations than they had a year ago.
- 70% say they are likely to switch brands if they deal with agents who are unable to answer their questions.
- 62% have actually switched brands in the past year due to poor customer service.
As in personal relationships, keeping a customer relationship going for years takes a lot of effort and care. But before giving up on the idea of increased investments, consider the financial impact of both poor and exceptional customer service: