Have you lost a customer recently? If you have, did you analyze why your customer left you?
There could be numerous reasons… Let’s start with it…
According to SuperOffice,
- 1% of customers die.
- 3% of customers move away.
- 5% of customers get a friend to go to a competitor.
- 9% of customers persuade to go to a competitor.
- 14% of customers are dissatisfied with your service.
- 68% of customers believe you don’t care about them.
As you can find from the above statistics, the two biggest reasons for a customer leaving are dissatisfaction with service and being neglected.
Losing Customers for Poor Customer Service
As per NewVoice Media, US companies lose more than $62 billion annually due to poor customer service. As per Accenture, in the United States, the estimated cost of customers switching due to poor service is $1.6 trillion. And this dissatisfaction often comes from a single incident.
While 33% of Americans say they’ll consider switching companies after just a single instance of poor service, 51% of customers will never do business with that company again. As per RightNow Media, 82% of customers have left a company because of a bad customer service experience. As per Glance, 91% of customers who had a bad customer experience aren’t willing to do business with your company again.
The younger generation customers are even more prompt in switching brands because of one single incidence. As per Microsoft, 68% of 18 to 34 years old have stopped their business terms with a brand because of poor customer service experience.
Customers Leave and Take More Customers with Them
The dissatisfied customers leave the brand, but they also spread the word of dissatisfaction among others.
As per a survey done by Groove HQ, unhappy customers, on average, tell sixteen friends about a bad experience. As per American Express, Americans tell an average of 15 people about a poor service experience versus the 11 people they’ll talk about a good experience.
This negative impact on customers can last for an extended period. In fact, as per a survey by Zendesk, 39% of customers avoid vendors for 2+ years after a bad experience.
So, now, let us understand, are we at fault for this service? Was there something we might have done to avoid this? As per Think Jar, 85% of customer churn due to poor service is preventable.
It is essential to understand what the customer wants to prevent them from leaving.
What do Customers Expect?
As per Microsoft, 68% of 18 – 34-year-old consumers have higher expectations for customer service today than they had just one year ago. They want quick and reliable service, which is readily available to them.
Service overcall is the most preferred way of communication for most customers.
In fact, as per New Voice, 75% think calling is the most effective way of getting a quick response.
As observed by American Express, 46% of customers prefer to talk to customer service on the phone about complicated issues.
Other than this, several techniques can be mastered to meet customer expectations and give a delightful service not to leave you.
If you have not yet mastered these techniques, then you must do them now. Remember, retaining a customer is much easier than getting a new one.
Harvard Business Revi is anywhere from 5 to 25 times more expensive to gain a new customer than to keep a current one.
Body Language
Another factor that impacts customers is Body Language. According to the survey, Body Language is an essential factor for sustaining customers.
So, learn techniques for handling your most demanding customers and turn them into loyal customers with your service.
Are you eager to learn techniques to handle challenging customers? To get details about the course, Meet Us here.
If you want to know more about our Indo-Canadian trainer and us, Click Here.
Getting a new customer is much more expensive than retaining the existing customers. That’s why their loyalty matters a lot to business.
Most of the customers leave because they believe that they are not cared. The business owner need to know about the expectations of the old customers.
Thanks for sharing this article. Customer’s expectations is with real time statistics is clearly explained.
keeping a customer for a long time is the real task for the organization.
This article regarding loyalty of customers is really true and it will help you to understand your customers so that you can provide your best to satisfy the customers. Thanks for sharing this
Loyal Customers are backbone of any business house. So it becomes very important to take continue feedback from them and do improvements, in order provide them better brand experience.
The blog is very relatable. Even I have seen many people who think of leaving a service provider many times when they do not get appropriate response. It makes them feel as if the company does not care. Since getting a new customer is much more expensive than retaining the old one, companies should invest more on customer services.
Thank you for sharing the blog.
Customer service is nowadays essential thing to do
Being a customer service representative means being the face of the company
Having a loyal customer means you are developing good relationship with the people and growing in your field
Very informative
Thanks for sharing
Yes definitely. Customer satisfaction is priority and we are also told at job that we should provide good customer service because if company get profit then we will ultimately get profit.
Worth reading article !! Gaining and maintaining loyal customers requires a lot of effort. The customer service needs to be exceptional and therefore learning to manage ones body language also plays an important role in business success.
It is said “ Customer’s are God”. They must be satisfied in order to gain their trust and loyalty. This is very essential for any kind of business. An article worth reading!
Happy customers should be the main objective for all organizations as they will be loyal in a long run. Very informative article. Thank you.
Loyal customers are important for the growth of any organizations. In long run the feedback from those customers will be helpful in the growth of the company. Thank you for sharing this.
A proper and well trained customer service is what makes the company reach to the top negligence with the services will be the main reason for the downfall as selling a product is the first task but maintaining a service is what people look forward to and this blog pretty much explains the same concept in a more factual way. Thank you for sharing..!!
Customers are like god and it is very essential to have loyal customers as they will help in the growth of the organization.