The marketplace, along with customer attitudes and the way companies respond to them are always shifting and changing.
To ensure your success in 2018, you’ll need to keep on top of the latest customer service and support statistics, and survey results. Below, we’ll cover the top 17, mind-blowing results on the most recent customer service and support statistics and research results. Read on so you can stay abreast of emerging trends in the industry.
1. In 2017, the average U.S. consumer told 15 people about a poor customer service experience. For good experiences, they tend to tell 11 people. Bad news spreads faster than good news, and with the ease of communication these days, it’s critical that you give customers a good experience when they open a support ticket.
2. Over half of U.S. consumers will abandon their purchase plans if they have a terrible customer service experience. Having excellent service and call center support is arguably as important as offering a top-notch product. Consumers aren’t just looking for a product that makes their lives easier; they also want companies to give them a positive experience when they interact.
3. More than 30% of consumers say they will switch companies if they have a terrible customer service experience. Furthermore, 51% of recently surveyed consumers say that after one bad experience, they never did business with a company again. If you want to grow your market share, offering stellar service support will differentiate you from your competitors. On the flipside, if you don’t provide good support, your customer base will slowly shrink as your competitors grow.
4. Demographically speaking, Millennial consumers were the most likely to cite good customer service as the reason they were willing to spend more on a product. While price is important, a growing share of consumers gives more weight to the service experience than the product’s cost. In 2014, 14% of U.S. consumers said they were willing to spend more for excellent customer service. Since 2017, that number has increased to 17%.
5. As far as ROI is concerned, a mere 5% increase in customer service and support satisfaction can increase your profits anywhere from 25% to 95%. It doesn’t take much to move the needle, but the payouts can be substantial.
6. It is more expensive to acquire a new customer than it is to maintain the loyalty of an existing one. Statistics point out that 75% of consumers will switch brands if they find the buying process too complicated. If you want to retain your customer’s loyalty, you want to make things comfortable and convenient for them.
7. Are you in a crowded market? You might be worrying that you need to cut your prices to stay competitive. Statistics say otherwise. 64% of surveyed consumers say they find the customer experience more important than the price. Customers are more likely to remember their experiences than the price they paid for a product. This is great news for companies that are competing in otherwise saturated markets.
8. If you work in B2B sales, a lack of speed is the number one complaint that B2B decision makers site in their interactions with their suppliers. In fact, speed is mentioned twice as much as price in B2B customer surveys.
9. People are busier than ever before. With so many demands on their time, time is your customers’ most precious resource. A whopping 66% of consumers say that the most important thing a company can do for them is to respect their time. Don’t waste your client’s time with a poor user interface, or lengthy service calls. Make it quick and easy for them to get the answers to their questions, and they will reward you with their loyalty and hard-earned money.
10. Word-of-mouth marketing is one of the most powerful marketing strategies you can have. But it needs to happen organically for it have the most impact. Fortunately, if you give your customers consistent, excellent service, they will tell their friends. 77% of all customers will tell a friend or family member about an exceptional customer service experience.
11. 75% of customers think it takes too long to reach a live agent. So what can you do? Ensure that your customers can contact a real, live person within two minutes or less. Waiting leads to frustration and an unhappy customer who is likely to reward your competitors with their hard-earned money and valuable time, so don’t waste it.
12. Incorporating personalized touches into the customer service experience can net you some serious points and loyalty with your customer base. Charity organizations that integrate handwritten thank you cards to first-time donors in their business models see massive increases in additional yearly donation revenue.
13. With the rise in AI technology, many businesses began to adopt a cynical view of customer service. Instead of using AI to enhance a human-centric, pleasant experience, they used AI to shield themselves from negative customer interactions. In 2018, you can’t use AI for this purpose. Customers demand human-centric approaches to business interactions. 68% of customers claim that interacting with pleasant, knowledgeable, and resourceful representatives is the key to positive support experience.
14. Social media channels are an excellent resource for differentiation. The average wait time for a social media support interaction is nine hours. Engaging customers quickly on social media can raise your customer’s regard for your business above your competitors.
15. U.S. consumers are quick to take to social media for positive customer service interactions. 53% will post about positive experiences on their social media profiles, while only 35% will post about negative experiences.
16. Friends and family recommendations on social media are more likely to drive increased sales opportunities than favorable reviews on third-party sites like Amazon or Yelp. Use social media reviews as a way to gauge where you stand on customer service. What your customers say about you is first-hand knowledge of where you can improve, or what you should increase or scale.
17. What’s the most frequently used customer support channel? It’s email. But it needs to be fast. Customers say that when they send a query via email, they expect a response within an hour. The reason why people don’t call, when in theory it should generate a faster response? Customers say the top reason they dislike phoning into a call center is that they can’t speak to a support agent right away.
The times have fundamentally changed. It’s not enough in the digital age to hide behind AI-generated support models.
Every customer expects to be heard from the companies they do business with. Today, consumers want businesses to respect their time and treat them like valuable individuals, not as numbers in a support ticket line.
There are so many tools available now that companies can meet, and even exceed customer expectations regarding support and services in a scalable way. There is a wealth of opportunities out there for you to grow a loyal customer base with excellent service and support. If you’re ready to capture a more significant market share in your industry, then don’t hesitate to reflect on these latest findings and incorporate them into your future business strategies.