Why Customer Service Is Important: 16 Facts To Know.

Customer service is important because it is the direct connection between your customers and your business. It retains customers and extracts more value from them. By providing top-notch customer service, businesses can recoup customer acquisition costs. This helps to cultivate a loyal following that refers new customers, serves as case studies, and provides testimonials and reviews.

Customer service teams provide a valuable service to businesses by ensuring that customers are happy and satisfied with products or services. In turn, this loyalty creates positive word-of-mouth marketing for the business, which can lead to increased sales and profits.

Investing in a quality customer service team is one of the best investments a business can make. Customer service teams help businesses to create and maintain a positive reputation, which is essential for long-term success.

There are many reasons why customer service is important, but here are 16 data-backed facts that highlight just how crucial customer service teams are:

1. Customer service is the number one reason why customers stay with or leave a company, according to an American Express survey.

2. 78% of consumers have bailed on a purchase because of poor customer service, according to CustomerThink.

3. 90% of consumers would pay more for better customer service, according to American Express.

4. 92% of customers would recommend a company to friends and family after a positive customer service experience, according to CustomerThink.

5. A study by NewVoiceMedia found that U.S. businesses lose $62 billion each year due to poor customer service.

6. Customer service is the second most important factor (after price) when deciding whether or not to do business with a company, according to a study by Accenture.

7. 86% of consumers say they would pay more for a better customer service experience, according to American Express.

8. Good customer service leads to repeat business – 70% of Americans say they would return to a company after a positive customer service experience, according to CustomerThink.

9. The cost of acquiring a new customer is six to seven times more expensive than retaining an existing one, according to Bain & Company.

10. A satisfied customer tells nine other people about their good experience, while a dissatisfied customer tells 16 people, according to CustomerThink.

11. Customer service has the biggest impact on brand perception, according to a study by TARP Worldwide.

12. It costs five times more to attract a new customer than it does to keep an existing one, according to Bain & Company.

13. Customer service is the most important factor in determining whether or not someone will do business with you again, according to a study by American Express.

14. In today’s digital world, it takes 12 positive online reviews to offset the effect of just one negative review, according to Reputation.com.

15. A study by NewVoiceMedia found that U.S businesses lose $62 billion each year due to poor customer service.

16. Customer service is the most important factor in determining whether or not someone will do business with you again, according to a study by American Express.

These facts make it clear that customer service is essential for any business that wants to be successful. By investing in a quality customer service team, businesses can reap many rewards, including increased sales, profits, and loyal customers.